E.J. Antoni

The markets are driven at this point largely by AI, right?

We've talked about this.

The magnificent seven mega tech companies that are not largely impacted by tariffs or mass deportations.

But if you look under that seven, things are much shakier.

And we've talked about it before.

So many businesses are in this no hiring, no firing, no growth.

They're bracing themselves, right?

Foreign investors are not feeling great about investing in the U.S.

And a funny thing, as happy as people have been about the markets in the last year, look abroad.

Markets abroad have been stronger than ours have.

Well, the amazing thing is that they don't react badly to Trump anymore.

They just kind of grin and bear it and hope to get through.

And the positive for the markets is that they hope that Trump won't like regulation.

But when something like this happens today, they really like it because it means that we do adhere to the rule of law here.

And if we're a country that doesn't adhere to the rule of law, then expect your markets to fly out the window because nobody's going to invest a red cent here.

I think overall, these are very good numbers.

You know, we've seen them come down, obviously significantly from where they were under Biden.

But we also have to remember that there's a huge lag in some of the components that are contributing the biggest increases in this index.

The Bureau of Labor Statistics is not accurately capturing many markets in the country where rents are declining right now.

Instead, the indexes are still rising.