Please stay tuned for important disclosure information at the conclusion of this episode.

Hello and welcome to the morning filter.

I'm Susan Jubinsky with Morningstar.

Every Monday morning before market open, Morningstar Chief U.S. market strategist Dave Sikara,

and I sit down to talk about what investors should have on their radars for the week,

some new morning star research, and a few stock ideas.

All right, David, well, let's kick off today's episode talking about last week's Fed rate cut of 25 basis points.

The market finished the week up.

So what do you make of the market's response?

Hey, good morning, Susan.

You know, initially, I think the market was just a little confused by the really wider range that they had of the dot plots.

But on Thursday, market just got past caring and just everything moved up on Thursday.

Everything was in the green.

The only thing that mattered to the market at that point is that we're on an easing path again. We've got two more cuts expected by the end of the year. So everything was up until the right. Now, Friday was a little more interesting. I did see some indications of people

taking some profits here and there on some specific stocks. But all of the Mo Momo stocks, the momentum stocks, they just continue

to keep climbing higher on Friday.

So again, markets looking to just keep going to higher and higher levels at this point.

So did anything stand out to you and Fed Chair Powell's comments after the rate decision?

Well, first of all, I'll admit I only really listen to like the first, the first two-thirds of the press conference, and then I had, like, some media calls thereafter. I took a quick look back at the notes, you know, that I had, to be honest, really nothing in particular really stood out to me. I mean, I would say there was no surprises, really nothing unexpected, nothing all that noteworthy.

I think it was just a lot of what you would expect for him to say in such a situation.

Now, I think you said earlier that the market's expecting two more rate cuts for the rest of 2025,

but what about 2026?

...