This week we break down the current stock market correction, including what history says about typical election-year seasonality. We also review the latest on GDP, jobs, productivity, and inflation—and what it all means for investors.

Plus, Alejandra Grindal of Ned Davis Research joins us to discuss slowing long-term U.S. growth, inflation likely settling above pre-pandemic levels, why she doesn’t see a recession or cyclical bear market, the outlook for the dollar and gold, rising U.S. deficits, and key geopolitical risks including continued U.S.–China decoupling and Taiwan.

Geopolitical expert Matt Gertken joins Smart Money to break down rising global tensions, the limits of U.S. power, and what shifting alliances mean for investors. We discuss the dollar, Trump’s leadership risks, the threat of an oil shock from Iran, and the long-term competition with China—and why independent thinking matters more than ever for portfolios.

David McCord joins us to discuss the growing market rotation away from speculative areas, the impact of AI spending, and what recent Mag 7 earnings reveal about leadership in stocks. We explore whether this shift signals a new bear market or a normal rotation, why the Fed remains in a policy pickle, and the key risks investors should be watching. We also break down the K-shaped economy, AI-driven white-collar layoffs, persistent inflation, and why housing remains central to the broader economic outlook.