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Hello, welcome to the Morning Filter. I'm Susan Jubinsky with Morning Star.

Every Monday before a 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. Well, good morning, Dave. Let's start with

a read on tariffs with China and last week's market activity. Now, there's still a good deal of

uncertainty around how tariffs will play out here and whether we'll have a trade war. But the stock market

seems to be shrugging off that uncertainty. What's your take? Hey, good morning, Susan. Yeah,

I mean, there's just a lot of posturing going on, a lot of positioning going on. Each side is really

trying to be able to put itself in a place where it has some leverage in the ongoing

negotiations. Personally, as far as the market goes, my own strategy is really just to be in

more of like a wait and see attitude. I think until we have a definitive agreement, it's just

too speculative to try and readjust any of your investment thesis, try and change any of the analysis you have

on any individual companies or stocks.

Of course, President Trump, it seems like he always starts with probably the most extreme

stance that you can take, really trying to get that shock value as part of the negotiations.

And then he's willing to walk it back a little bit afterwards.

My opinion, I think it just appears that he tries to figure out a way to make it such that the ultimate resolution will be, you know, more in his favor than the middle ground as they go through these ongoing negotiations, whether or not that's true at the end of the day. You know, I have no idea. I would just note that as an investor,

I think that if you were to try and trade the headlines, you know, going all the way back,

you know, it's even like March and April, what would have happened is that you would have been

consistently selling the market after it's already fallen and then trying to buy back the market

after it's already recovered. So that's why I think as a long-term investor, to some degree, I think you need to look through

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