While valuations remain a headwind, U.S. equity markets remain above key technical support levels with potential for another round of sector rotation developing heading into Q2.

After a year of uncertainty, tariff rates have stabilized at lower levels than feared—and become a significant U.S. government revenue source. We assess the tariff landscape ahead of the Supreme Court’s important ruling.

AI investment has more runway ahead, in our view. A shift toward monetization, return on investment, and enterprise applications strengthens the case for diversifying beyond Big Tech to capture broader opportunities.