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 Morning Star.

Every Monday before market open, Morningstar Chief U.S. market strategist Dave Sakara, 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. Well, hi, Dave. It's been a couple of weeks since our last episode of the podcast. So we've got a lot of catching up to do. But before we do, how is your Labor Day weekend? Hey, good morning, Susan. It was great. So it's actually really just emblematic of my entire summer where it seems like I was hardly home any of the weekends this summer. I was just always traveling and on the road. So Labor Day weekend, travel to go visit my son, went to the University of Illinois football game, back home to do some yard work. I went to go visit my parents to go celebrate my birthday. So long weekend, a lot of travel time, but great weekend overall. How about yourself?

It was pretty good. It was pretty chill for me because I then had to head out midweek last week

to help my son, who's a student in Savannah, move into his first apartment.

Nice.

So I'm feeling a little rusty after the moving. So this could be interesting today. Fair warning to

everyone. All right. So let's recap some of the economic highlights from the past couple of weeks.

A federal appeals court ruled that many of President Trump's global economic tariffs are illegal.

So what are the implications, Dave?

Well, from here, of course, it's now going to go to the Supreme Court. But for the most part,

you know, the market just ignored it. I really didn't see any reaction out there whatsoever.

You know, at this point, I think the market's looking at it that, you know, even if the appeals

court ruling were to hold, the administration has a lot of other options that they can do to try and get done what they want to get done, just using some other different areas within the law.

I'm not exactly sure what the section numbers are.

I think it's like section 301 covers unfair trade practices, section 232 for national security implications.

So again, these would all take longer for them to be able to implement.

They've got to do the investigations, do some write-ups behind it.

But again, you can get things done using some of these.

Plus, there's also just a lot of non-tariff regulatory actions that can be taken.

You can put in, you know, import quotas, licensing restrictions, you know, other things that could

...