Members Area

Macro Research

Latest Updates

US Policy

Fri, May 22, 2026 | 1:46PM ET

New Fed Chair, Congress Goes Home

First to Market

Fri, May 22, 2026 | 8:51AM ET

U.S. Homebuilders Are Getting Hammered. Could Japan Help?

First Word

Fri, May 22, 2026 | 7:50AM ET

The 5 challenges we see for incoming Fed Chair Warsh in his first 100 days.

Earnings Daily

Fri, May 22, 2026 | 6:30AM ET

Fundstrat Direct 1Q26 Daily Earnings (EPS) Update – 05/21/2026

Macro Minute Video

Thu, May 21, 2026 | 10:02PM ET

Video: Macro Minute: The 5 challenges we see for incoming Fed Chair Warsh in his first 100 days.

Your Weekly Roadmap

Fri, May 22, 2026 | 5:12PM ET

Equities Continue Weekly Win Streak as SpaceX, New Fed Chair Take the Stage

First Word

Fri, May 22, 2026 | 7:50AM ET

The 5 challenges we see for incoming Fed Chair Warsh in his first 100 days.

VIDEO_:_ We discuss the 5 challenges in the first 100 days for incoming Fed Chair Kevin Warsh. The economy is strong, but we know there...

Thu, May 21, 2026 | 7:50AM ET

- $NVDA results good enough. FOMC minutes hawkish bias if inflation persists. Equities show impressive resilience

Wed, May 6, 2026 | 7:50AM ET

- The stocks working in 2026 deliver things that are scarce = market makes sense. Still see a 3-phase market in 2026.

Fri, May 1, 2026 | 7:50AM ET

- Adding Software $IGV to top sector ideas along with $MAGS $IBIT $ETHA. If correct, private credit risks diminishing

Macro Minute Video

Thu, May 21, 2026 | 10:02PM ET

Video: Macro Minute: The 5 challenges we see for incoming Fed Chair Warsh in his first 100 days.

VIDEO_:_ We discuss the 5 challenges in the first 100 days for incoming Fed Chair Kevin Warsh. The economy is strong, but we know there...

Tue, May 19, 2026 | 7:55PM ET

- Video: Macro Minute: $NVDA to report Wed and with a forward P/E of 19X, still reasonably priced. Oil and 10Y headwinds, but swaps show CPI YoY likely to peak in June 2026

Mon, May 18, 2026 | 7:20PM ET

- Video: Macro Minute: $NVDA results Wed and Warsh Friday are key macro events. Software risk/reward still attractive given the sizable underperformance since Oct

Wed, May 13, 2026 | 10:50PM ET

- Video: Macro Minute: Hot April Core PPI, but market takes this in stride = good. Median P/E of S&P 500 still "de-rating"

Outlooks

Wed, December 10, 2025 | 9:47PM ET

2026 OUTLOOK (Lee): Wall of Skepticism + New Fed, S&P 500 Year-end 7,700

Video_: _Please tune into our 2026 Outlook webinar. At the start of 2025, we said markets had two "puts" -- the Fed and the White...

Wed, December 11, 2024 | 7:50AM ET

- 2025 OUTLOOK (Lee): Two “puts” make a right - After 20% back-to-back, Mid-year 7,000, Year-end 6,600

Thu, December 7, 2023 | 7:50AM ET

- 2024 Year Ahead: Inflation down plus higher demand = P/E expansion.

Technical Strategy

Daily Technical Strategy

Fri, May 15, 2026 | 8:00PM ET

Initial signs of a stall in US Equities given a global push higher in Treasury yields

CROSS-ASSET VOLATILITY IS STARTING TO CREEP BACK INTO THE PICTURE, GIVEN A SYNCHRONIZED GLOBAL PUSH HIGHER IN LONG-END TREASURY YIELDS, BOTH DOMESTICALLY AND ACROSS MOST...

Thu, May 14, 2026 | 8:01PM ET

- NVDA Earnings could prove to be the inflection point for Semiconductor stocks, given price & time-based resistance

Wed, May 13, 2026 | 7:04PM ET

- FXI breaks out of Multi-month Trend ahead of Trump/Xi Meeting

Tue, May 12, 2026 | 8:33PM ET

- Forced Reweighting in EWY by Month-End Could Send Ripples Through Semiconductor Issues

Technical Outlooks

Sun, December 14, 2025 | 7:00PM ET

2026 Technical Outlook: Expecting a choppy but positive year of consolidation

REMINDER: My 2026 Technical Outlook is tomorrow (12/15) at 2:00 PM Est. Additionally, please find my Outlook Deck attached HERE. CONCLUSION: A VOLATILE YEAR BUT...

Tue, January 7, 2025 | 9:17AM ET

- 2025 Technical Outlook: A more Subdued year but still likely positive

Thu, December 14, 2023 | 10:24AM ET

- 2024 Technical Outlook: Broad-based rally back to new all-time highs likely in 2024

Mon, July 3, 2023 | 4:00PM ET

- 2H2023 Technical Outlook

Your Weekly Roadmap

Fri, May 22, 2026 | 5:12PM ET

Equities Continue Weekly Win Streak as SpaceX, New Fed Chair Take the Stage

Good evening, In some ways, this week was like a mirror image of the previous one. Whereas stocks began last week strongly before giving up...

Fri, May 15, 2026 | 5:04PM ET

- Stocks Give Back Early-Week Gains

Fri, May 8, 2026 | 5:11PM ET

- Stocks Surge 'for the Right Reasons'

Fri, May 1, 2026 | 4:42PM ET

- Stocks Extend April Surge to Open May

First to Market

Fri, May 22, 2026 | 8:51AM ET

U.S. Homebuilders Are Getting Hammered. Could Japan Help?

CHART OF THE DAY GOOD MORNING! It's been a rough few years for homebuilders. Actually, make that a rough couple of decades. A robust, profitable...

Thu, May 21, 2026 | 8:54AM ET

- This is Warsh’s Economy Now

Wed, May 20, 2026 | 8:39AM ET

- Is Walmart Becoming a Wealth Bellwether?

Tue, May 19, 2026 | 8:44AM ET

- The Other Deep-Sea Threats Lurking from the U.S.-Iran War in the Strait

Signal From Noise

Sat, May 9, 2026 | 5:00PM ET

The Trump Portfolio – From Bully Pulpit to Bull Market

President Trump has broken with precedent on numerous fronts during his presidency – both terms. One major precedent involves having the government take ownership stakes...

Sat, April 25, 2026 | 5:00PM ET

- How to Buy SpaceX, OpenAI, and Anthropic Before IPOs?

Sat, April 11, 2026 | 5:00PM ET

- The Business of Farming – Yields of a Different Kind?

Sat, March 21, 2026 | 5:00PM ET

- Beyond Hormuz – Iran Pushes Cybersecurity to the Forefront

US Policy

Fri, May 22, 2026 | 1:46PM ET

New Fed Chair, Congress Goes Home

The big news for markets today is the swearing in of Kevin Warsh as the new chair of the Federal Reserve. His first FOMC meeting will be on June 16-17. At...

Mon, May 18, 2026 | 11:13AM ET

- Trump Candidate Wins in Louisiana, New Fed Chair, China Readout

Fri, May 15, 2026 | 11:47AM ET

- Warsh Wins Vote, Crypto Bill Advances, China Talks

Mon, May 11, 2026 | 11:08AM ET

- China Trip, War Focus, Warsh Vote

Fed Watch

Fed Watch

Wed, April 29, 2026 | 6:31PM ET

End of an Era - Powell's Parting

The Federal Reserve kept rates on hold at 3.5%–3.75% Wednesday for the third straight meeting, delivering the non-decision that markets had fully priced in. What...

Wed, March 18, 2026 | 9:05PM ET

- The Only Certainty Is Uncertainty

Wed, January 28, 2026 | 8:22PM ET

- FOMC Holds Line, So Do Markets

Wed, December 10, 2025 | 9:05PM ET

- The Cut, The Dots, and the Chair: Why 2026 Looks Different

Markets Wrapped

Markets Wrapped

Wed, January 7, 2026 | 12:03PM ET

2025 Markets Wrapped

2025 was another fantastic year for markets, continuing a bull-run as the 3rd Consecutive year of double-digit gains in the S&P 500. Yet despite the...

Earnings Daily

Fri, May 22, 2026 | 6:30AM ET

- Fundstrat Direct 1Q26 Daily Earnings (EPS) Update – 05/19/2026

Macro Videos

Macro Minute Video

Tue, October 8, 2024 | 8:28PM ET

Video: Macro Minute: HBO documentary (airing tonight) claims to identify Satoshi. Still a "whipsaw" market but we expect investors to buy the dip, with 3Q24 EPS around the corner.

VIDEO: Be sure to tune into the HBO documentary Digital Money tonight at 9pm ET, where HBO claims to reveal the identity of Satoshi Nakamoto,...

Sun, August 18, 2024 | 7:52PM ET

- Video: Macro Minute: Fed Chair remarks at Jackson Hole likely to solidify that 8/5 was summer low.

Sun, August 11, 2024 | 7:43PM ET

- Video: Macro Minute: We are watching 3 things this week. At top of list is Middle East conflict.

Sun, July 28, 2024 | 10:04PM ET

Members Area

Macro Research

Latest Updates

New Fed Chair, Congress Goes Home

U.S. Homebuilders Are Getting Hammered. Could Japan Help?

The 5 challenges we see for incoming Fed Chair Warsh in his first 100 days.

Fundstrat Direct 1Q26 Daily Earnings (EPS) Update – 05/21/2026

Video: Macro Minute: The 5 challenges we see for incoming Fed Chair Warsh in his first 100 days.

Equities Continue Weekly Win Streak as SpaceX, New Fed Chair Take the Stage

First Word

The 5 challenges we see for incoming Fed Chair Warsh in his first 100 days.

- $NVDA results good enough. FOMC minutes hawkish bias if inflation persists. Equities show impressive resilience

- The stocks working in 2026 deliver things that are scarce = market makes sense. Still see a 3-phase market in 2026.

- Adding Software $IGV to top sector ideas along with $MAGS $IBIT $ETHA. If correct, private credit risks diminishing

Macro Minute Video

Video: Macro Minute: The 5 challenges we see for incoming Fed Chair Warsh in his first 100 days.

- Video: Macro Minute: $NVDA to report Wed and with a forward P/E of 19X, still reasonably priced. Oil and 10Y headwinds, but swaps show CPI YoY likely to peak in June 2026

- Video: Macro Minute: $NVDA results Wed and Warsh Friday are key macro events. Software risk/reward still attractive given the sizable underperformance since Oct

- Video: Macro Minute: Hot April Core PPI, but market takes this in stride = good. Median P/E of S&P 500 still "de-rating"

Outlooks

2026 OUTLOOK (Lee): Wall of Skepticism + New Fed, S&P 500 Year-end 7,700

- 2025 OUTLOOK (Lee): Two “puts” make a right - After 20% back-to-back, Mid-year 7,000, Year-end 6,600

- 2024 Year Ahead: Inflation down plus higher demand = P/E expansion.

Technical Strategy

Initial signs of a stall in US Equities given a global push higher in Treasury yields

- NVDA Earnings could prove to be the inflection point for Semiconductor stocks, given price & time-based resistance

- FXI breaks out of Multi-month Trend ahead of Trump/Xi Meeting

- Forced Reweighting in EWY by Month-End Could Send Ripples Through Semiconductor Issues

Technical Outlooks

2026 Technical Outlook: Expecting a choppy but positive year of consolidation

- 2025 Technical Outlook: A more Subdued year but still likely positive

- 2024 Technical Outlook: Broad-based rally back to new all-time highs likely in 2024

- 2H2023 Technical Outlook

Your Weekly Roadmap

Equities Continue Weekly Win Streak as SpaceX, New Fed Chair Take the Stage

- Stocks Give Back Early-Week Gains

- Stocks Surge 'for the Right Reasons'

- Stocks Extend April Surge to Open May

First to Market

U.S. Homebuilders Are Getting Hammered. Could Japan Help?

- This is Warsh’s Economy Now

- Is Walmart Becoming a Wealth Bellwether?

- The Other Deep-Sea Threats Lurking from the U.S.-Iran War in the Strait

Signal From Noise

The Trump Portfolio – From Bully Pulpit to Bull Market

- How to Buy SpaceX, OpenAI, and Anthropic Before IPOs?

- The Business of Farming – Yields of a Different Kind?

- Beyond Hormuz – Iran Pushes Cybersecurity to the Forefront

US Policy

New Fed Chair, Congress Goes Home

- Trump Candidate Wins in Louisiana, New Fed Chair, China Readout

- Warsh Wins Vote, Crypto Bill Advances, China Talks

- China Trip, War Focus, Warsh Vote

Fed Watch

End of an Era - Powell's Parting

- The Only Certainty Is Uncertainty

- FOMC Holds Line, So Do Markets

- The Cut, The Dots, and the Chair: Why 2026 Looks Different

Markets Wrapped

2025 Markets Wrapped

Earnings Daily

Fundstrat Direct 1Q26 Daily Earnings (EPS) Update – 05/21/2026

- Fundstrat Direct 1Q26 Daily Earnings (EPS) Update – 05/21/2026

- Fundstrat Direct 1Q26 Daily Earnings (EPS) Update – 05/20/2026

- Fundstrat Direct 1Q26 Daily Earnings (EPS) Update – 05/19/2026

Macro Videos

Video: Macro Minute: HBO documentary (airing tonight) claims to identify Satoshi. Still a "whipsaw" market but we expect investors to buy the dip, with 3Q24 EPS around the corner.

- Video: Macro Minute: Fed Chair remarks at Jackson Hole likely to solidify that 8/5 was summer low.

- Video: Macro Minute: We are watching 3 things this week. At top of list is Middle East conflict.

- Video: Macro Minute: Post-FOMC press conf (2:30pm), equities rallied 5D last 5 of 6 instances. Small-cap remains most compelling.