Hey, I'm in the service business too!

Travel discussions in San Antonio and Grand Rapids revealed anxiety among advisors regarding AI's impact on jobs and economic uncertainty. Concerns were raised about potential recession timing and varied expert opinions amidst a solid market, although seasonal downturns are expected.

The S&P 500 remains above its 200-day moving average, suggesting any corrections may be mild. Second-quarter earnings showed 12.4% growth, with a projected decline to 6% for the next quarter, particularly in tech, but U.S. equities still appear favorable compared to global markets.

Consumer strength is critical, despite rising credit card debt; positive retail sales and sentiment indicate resilience. However, industrial production fell, and the German economic outlook showed fragility.

Gold outperformed equities this year, raising safe-haven questions with Bitcoin's recent downtrend. Market volatility remains anticipated, influenced by VIX trends, historically tied to presidential election outcomes.