Equity markets are once again setting all-time highs—prompting both optimism and concern among investors. With valuations stretched and potential volatility from trade policy uncertainty, investors face growing questions about whether this rally has room to run or if a sharp near-term pullback is on the horizon.

During this webinar CFRA’s esteemed analysts, Paul Beland, CFA, Head of Global Research-Wealth Management, Sam Stovall, CFP, Chief Investment Strategist, and Drew Wells, CMT, Technical Analyst, combined fundamental and technical research to assess the current market environment.

They also examined the key drivers behind the recent market strength, identified potential warning signs from market internals and macro indicators, and discussed strategies to help advisors navigate elevated valuations and risks associated with volatility.

During the session, we discussed:

• Fundamental drivers behind recent stock performance
• Macro and sector-level risk factors to monitor
• Technical signals that may indicate market exhaustion or continued strength
• How investors can construct risk management frameworks to trim positions, rebalance, and seek defensive opportunities without early market exits.

Halfway through the year, action in Washington continues to be a key driving force of investor outcomes. During this webinar, John Sonsalla, Head of Policy & Legal Research, Washington Analysis, A CFRA Business, and Aniket Ullal, Head of ETF Research & Analytics, CFRA, examined key policies implemented to date by the Trump administration and Republican-controlled Congress, and what to expect in the back half of the year.

This webinar combined CFRA’s top expertise in policy and ETF analysis, providing valuable insights for ETF investors in institutional and wealth markets as policy in DC continues to evolve and get implemented.

During this session, we discussed:

• Half Time Report – How Policy Drove Markets in 1H-2025: Review of the policy agenda in Washington, underappreciated themes, and impacts on ETF investors.
• The Look Ahead – Policy Expectations in 2H-2025: Key insights for investors on what to expect through the rest of this year from the White House and Republican-controlled Congress.
• Washington Driving Cross-Sector Implications in ETFs: Opportunities and risks in the ETF space as the policy agenda continues to evolve and advance in Washington.

In the first 100 days of the Trump administration, healthcare underwent significant shifts. As HHS Secretary Robert F. Kennedy Jr. promoted the “Make America Healthy Again” (MAHA) agenda, the workforce was reduced, and priorities for Medicaid and Medicare were redefined. Where do stakeholders position themselves, and what crucial aspects should they actively monitor?

The Washington Analysis, A CFRA Business, Healthcare team hosted a roundtable discussion to explore key issues impacting the healthcare industry. They examined the impact of recent leadership changes and restructuring at federal health agencies on regulation, stability, and workforce morale.

In this session, we discussed:

• The Congressional Outlook on Medicare Advantage, Medicare reimbursement (from the doc fix to site neutral), healthcare REITs, pharmacy benefit managers, pharmacies and drug pricing reform
• Medicaid: Examined how Medicaid reform proposals will disproportionately affects specific facilities, insurers and technology providers
• Medicare: Following the release of five proposed and two final payment rules, how reimbursement to facilities (Acute Care, Long Term Care Hospitals, Home Health, SNFs, Hospice) and insurers CHANGE
• Pharmaceuticals & MedTech: Outlook for tariffs, vaccines, reduction in funding for biomedical research, shakeup at the FDA, DTC Ads, reimbursement expectations for 2026
• Workforce Reduction: Highlight topics such as the impact of DOGE-related cuts on health agencies

The markets have spoken—are you listening? We expect 2025 to continue to be a year of heightened market volatility. With geopolitical uncertainty clouding economic forecasts, how should you position yourself moving forward?

During this session we discussed CFRA’s fundamental outlook for 2025 and 2026 and what Lowry’s technical indicators tell us about what it all means for the remainder of the year.

CFRA Head of Global Research—Wealth Management Paul Beland, CFA, CFRA Chief Investment Strategist Sam Stovall, CFP, and Lowry Research Senior Vice President Michael Kahn, CMT, highlighted key market trends, identified critical indicators and emerging patterns, and provided insights that could influence future market movements.

During this session, we:

• Reviewed CFRA’s Fundamental Market Outlook
• Reviewed Lowry’s Current Technical Market Outlook
• Top Sectors, Stocks, and ETFs
• Q&A

As tariffs loom, along with rising national debt, persistent inflation, and elevated interest rates, how will investors effectively safeguard their portfolios from potential downturns?

During CFRA’s roundtable, our Consumer Analysts explored the nuanced and complex ways in which tariffs are expected to impact the consumer and consumer-facing companies. They delved into the specific challenges faced by different industries, analyzed potential ripple effects on consumers, and highlighted tariff-related dynamics shaping the market.

During this interactive roundtable, they discussed:

• Oil and Gas: How tariffs will raise fuel costs, disrupt supply chains, benefit domestic producers.
• Big Box Retailers: Higher import costs will lead to price hikes or supplier shifts.
• Auto Industry: Tariffs on steel and parts raise costs, affecting prices and jobs.
• Retail: Import tariffs will increase prices and reduce demand.
• Winners/Losers

While the recent news regarding tariffs and potential trade wars has led to an increase in near-term volatility, Lowry’s key gauges of market health suggest the market is undergoing a period of consolidation, rather than a major market top.

During this webinar we discussed the recent market consolidation and how our indicators continue to favor a positive outlook, where we see opportunity, and what we will need to observe to suggest a more cautious approach. CFRA Head of Global Research—Wealth Management Paul Beland, CFA, Lowry Research Senior Vice President Michael Kahn, CMT, and Market Analyst Michael Zuber, CMT, highlighted key market trends, identified critical indicators, emerging patterns, and provided insights that could influence future market movements.

During the session, we reviewed:

• Lowry’s Current Market Outlook
• Potential Signs that might Raise the Caution Level
• Sectors Likely to Outperform and Underperform
• Top Stocks and ETFs (in Lowry’s Most-Favored Sectors)
• Q&A

During this webinar, John Sonsalla, Head of Policy & Legal Research, Washington Analysis, A CFRA Business, and Aniket Ullal, SVP and Head of ETF Research & Analytics, CFRA Research, examined the incoming administration’s legislative priorities and their implications for ETFs across sectors and themes.
This webinar combined CFRA’s top expertise in policy and ETF analysis, providing valuable insights for ETF investors in institutional and wealth markets as they prepare for the new administration’s inauguration.

During this session, we discussed:

• The Impact of the New Legislative Agenda on ETF Markets: Discussed how policy changes may affect ETFs across various sectors and themes.
• 2025 Outlook on ETFs: Provided key insights for investors in the new administration and suggested strategies for ETF investors to navigate potential market fluctuations effectively.
• Cross-Sector Opportunities and Risks in ETFs under a New Administration: Discussed cross-sector opportunities and risks in the ETF space based on expected Republican policy focus.