00:00Cameron Dawson of New Edge Wealth writing after a small pullback to trend. The market mood is still resoundingly risk
00:05on despite real risks. This uptrend should be respected. Cameron joins us now for more. And I believe you wrote
00:11that even before the agreement was signed. Yeah. This seems like a different moment. And the market is treating it
00:18as more real as some of the other inroads into a peace deal. What's so different this time around. I
00:23think what is different is that there seems to be at least some confirmation that there is some kind of
00:28agreement moving forward with
00:29Iran and that is certainly breathing life into areas of the market that have lagged since the start of the
00:35war. If you look at the non S&P 500 AI trade meaning those areas that don't have any exposure
00:41to AI they're only up about 1 percent since the beginning of the war. Compare that to AI which is
00:47up 47 percent since the start of the war. So we know that this market has been able to make
00:52new highs because of the AI trade with a lot of other areas of the market left behind. So it's
00:57those left behind areas that have the most
00:59potential of course for some kind of catch up trade some kind of bid as we see a broadening out
01:05potentially in some of this kind of relief in the rotation. How much is this really tied to the idea
01:10that it takes heat away from the central banks to have to be sort of punitive and raise rates in
01:16the face of inflation. I think that that is a big factor in all of this because if we looked
01:20at the upward pressure on oil prices that fed into gasoline prices fed
01:25into diesel prices all of that created that upward pressure on interest rates and expectations for a more hawkish Fed
01:32or potentially more hawkish Fed. So it's those areas of the market that could see the greatest potential. Look at
01:38the things like financials finally trading back above their 200 day moving average on Friday. You saw the equal weight
01:44S&P 500 hit a new high on Friday. So maybe markets are omnipotent and they were kind of sniffing
01:50out some of this as we saw the broadening come back.
01:52But that certainly can relieve some of the pressure in areas of the market that had been again left behind.
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