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.

On this episode, we dive into the latest on the U.S. economy and markets: the national debt, the impact of a sliding U.S. dollar, and whether stocks are showing broader strength. We’ll discuss the Federal Reserve, potential rate cuts, and the challenges the new Fed chair will face. Plus, we’ll update you on earnings, market breadth, unemployment, inflation, and what bond markets are signaling about the economic outlook.