The Morning Filter

In this bonus episode of The Morning Filter podcast, co-host and Morningstar chief US market strategist Dave Sekera and Morningstar chief US economist Preston Caldwell share their new outlooks for the market and the economy. Tune in to find out whether the market is undervalued today, which sectors hold the best opportunities, and what stocks make Morningstar analysts’ top picks list. Sekera also explains why he thinks a value-growth barbell strategy can win in 2026 and how to execute it. 

Caldwell covers when he expects GDP growth to reaccelerate, why worries about the K-shaped economy are overdone, and how long he thinks it’ll be before the Federal Reserve cuts interest rates again. The episode concludes with a bond-market outlook, including whether the worst is behind the private credit market.

Episode Highlights 

Why we think a barbell approach to US stocks make sense today.

Which parts of the US stock market look most undervalued.

Why we expect volatility to persist in 2026.

Morningstar’s updated forecasts for GDP growth, inflation, and interest rates.

Our take on the bond market.

 

Read about topics from this episode.

33 Undervalued Stocks to Buy in a Volatile Market

Q1 2026 in Review and Q2 Market Outlook

Stock Sector Outlooks: Morningstar’s Top Q2 Picks Across the Market

 

Got a question for Dave? Send it to [email protected]. 

 

You can follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research, and follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar).

 

Tune in to The Morning Filter podcast every Monday at 9 am Eastern, 8 am Central. Subscribe to get notified when we post next. Happy Investing!

 

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In this episode of The Morning Filter podcast, co-hosts Dave Sekera and Susan Dziubinski unpack the stock market’s response to the US-Iran cease fire and discuss how investors should be thinking about their portfolios as uncertainty persists. They preview earnings season and what to watch for in big bank earnings from JPMorgan Chase JPM, Bank of America BAC, and Citigroup C this week. 

Tune in to find out if Johnson & Johnson, ASML, Taiwan Semiconductor and Netflix are stocks to buy ahead of earnings and whether Veeva Systems’ competitive advantages are likely to be eroded by AI. They wrap up with five undervalued growth stocks that look attractive today.

Episode Highlights 

00:00:00 Welcome

00:01:42 The market’s response to new events in the Iran war.

00:10:14 How companies may approach their forecasts during earnings season.

00:11:32 What to look for in big bank earnings this week.

00:14:21 Why to watch earnings from Johnson & Johnson JNJ, ASML ASML, Taiwan Semiconductor TSM and Netflix NFLX.

00:22:53 Is Veeva Systems’ VEEV moat safe?

00:28:00 Undervalued growth stocks to buy before they come back.

Read about topics from this episode. 

Q2 2026 Stock Market Outlook: Don’t Panic, Readjust

Read Dave’s complete archive

Got a question for Dave? Send it to [email protected]. 

You can follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research, and follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar).

If you would like more information about any of the stocks Dave talked about today can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. We’ll see you on Monday!

 

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In this episode of The Morning Filter podcast, co-hosts Dave Sekera and Susan Dziubinski discuss the market’s response to new developments in the Iran war. They speculate what the Federal Reserve’s interest rate policy may be for the rest of the year and whether this week’s inflation reports will drive more market volatility. They explain why Anthropic’s Mythos model only makes cybersecurity stocks more attractive and whether the worst is behind for Nike. Tune in to find out if Carnival or McCormick are stocks to buy after making news last week.

Small-cap stocks have held up relatively well in 2026, but are conditions right for the outperformance to continue? They close with several at-risk stocks to sell in the face of higher inflation.

Episode Highlights 

00:00:00 Welcome

 

00:01:37 The market’s response to the latest events in the Iran war and whether the Federal Reserve is more likely to raise interest rates or cut them this year.

00:08:56 If this week’s inflation reports will stoke volatility in the market.

00:14:25 Are cybersecurity stocks facing a new risk?

00:16:05 What to make of updates from Nike NKE, Carnival CCL, and McCormick MKC.

00:20:36 Whether small-cap stocks can continue to outperform in 2026.

00:26:21 At-risk stocks to sell before inflation heats up.

Read about topics from this episode. 

Register for Dave's Q2 Market Outlook webinar.

Read Dave’s complete archive.

 

Got a question for Dave? Send it to [email protected]. 

 

You can follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research, and follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar).

 

If you would like more information about any of the stocks Dave talked about today can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. We’ll see you on Monday!

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of The Morning Filter podcast, co-hosts Dave Sekera and Susan Dziubinski discuss what economic and earnings reports to keep an eye on during this shortened trading week. Chewy’s stock skyrocketed after earnings last week; tune in to find out if the stock is a buy after the runup. They examine market valuations heading into the second quarter, revealing whether now is the time for investors to increase their exposure to US stocks. They also unpack which investment styles look most attractive today, as well as which sectors to take profits in and which sectors to invest the proceeds in.

They explain why Crowdstrike isn’t a top pick among cybersecurity stocks today. This week’s stock picks feature five undervalued stocks that Morningstar’s analysts like at the start of the second quarter.

Episode Highlights 

What to watch in the earnings reports from Nike NKE and McCormick MKC this week.

Is Chewy CHWY a buy after its stock pop? 

Heading into the second quarter, should investors overweight US stocks?

Which sectors to sell and which sectors to buy today.

Market trends to monitor in the months ahead.

Stock picks: undervalued stocks Morningstar’s analysts like.

Read about topics from this episode. 

Register for Dave's Q2 Market Outlook webinar.

Read Dave’s complete archive.

Got a question for Dave? Send it to [email protected]. 

You can follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research, and follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar).

Viewers who’d like more information about any of the stocks Dave talked about today can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. We’ll see you on Monday!

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of The Morning Filter podcast, co-hosts Dave Sekera and Susan Dziubinski discuss the market’s latest response to the ongoing war in Iran and explain what oil futures are telling investors. They unpack what’s going on in fixed income globally and whether the worst is yet to come in the private credit market. Tune in to find out just how big Morningstar’s fair value increase is on Micron after earnings and what drove an upgrade in Nvidia’s fair value, too. 

Speaking of fair value changes, the co-hosts answer a viewer question about why Oracle’s ORCL fair value has moved around so much lately. They wrap up with some attractive stocks to buy of companies that are brand powerhouses.

Episode Highlights 

00:00:00 Welcome

00:01:32Updates on the market’s response to the ongoing war and what oil markets are telling us.

00:11:26 What to watch in the US bond market today and what may be next for private credit.

00:17:25 Why to monitor international bonds.

00:21:16 Micron reported blowout results. Nvidia issued a stunning outlook for Blackwell and Rubin AI products. Why isn’t the market impressed?

00:33:12 Stock picks: top stocks with powerful brands to invest in.

Read about topics from this episode. 

US Stock Market Outlook: Where We See Investing Opportunities in March

Read Dave’s complete archive.

 

Got a question for Dave? Send it to [email protected]. 

 

You can follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research, and follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar).

 

Viewers who’d like more information about any of the stocks Dave talked about today can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. We’ll see you on Monday!

 

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