The market pullback will take time to play out. Planning for an eventual shift to defense beats a “hope for the best” approach.

Four unresolved issues related to the selloff stand to hold sway over stocks. More volatility is likely, and we favor a defensive tilt in equity portfolios, focusing on high-quality shares that can better withstand further economic deterioration.

As expected, the Fed held off on a rate cut this week. But as policymakers await more economic data before a likely September rate cut, the data may already be signaling the central bank is too late.

RBC’s AI software analyst enthusiastically talks about how GenAI has leapfrogged traditional AI tools and tells us what excites him about the technology today and its future potential.