Can the artificial intelligence trade continue driving markets higher, even as investors navigate inflation, geopolitical risks, and rising oil prices?

In this NYSE Live interview, Dale Smothers, CEO and President of RDS Wealth, discusses the outlook for equities, the future of the AI trade, major technology stocks, earnings season, and the macroeconomic forces shaping investor sentiment.

Smothers begins by sharing a constructive outlook on markets despite near-term volatility. While acknowledging uncertainty surrounding earnings, inflation, energy prices, and geopolitics, he remains optimistic that strong corporate results and continued AI adoption could provide support for equities moving forward.

A major focus of the conversation is artificial intelligence and investor expectations for profitability. Smothers explains that markets are increasingly seeking evidence that large investments in AI infrastructure and innovation can translate into sustainable earnings growth. Recent results from major technology companies have strengthened confidence that AI-related spending can ultimately generate attractive returns.

The interview also explores the importance of earnings season. Smothers highlights investor scrutiny of capital expenditures, profitability trends, and management guidance as key factors influencing technology valuations. He notes that earnings performance remains one of the most important indicators for assessing the strength of the broader market rally.

Another key theme is the role of market leaders within the AI ecosystem. Smothers discusses companies such as Nvidia and Apple, highlighting their strategic positions within the technology landscape and explaining why he believes they remain important beneficiaries of long-term AI adoption trends.

The conversation further examines Apple and its ability to capitalize on emerging technology opportunities. Smothers points to the company's brand strength, ecosystem advantages, product innovation pipeline, and expanding AI integration efforts as factors that support his positive outlook.

The interview also addresses market concentration and investor preferences. While acknowledging the strong
performance of several technology companies, Smothers emphasizes the importance of conviction-based investing and maintaining discipline during periods of volatility.

Inflation and energy prices remain another major topic of discussion. Smothers explains how oil price movements and geopolitical developments continue to influence inflation expectations, consumer confidence, and overall market sentiment. He believes future market performance will depend in part on how successfully inflation pressures are
managed.

The discussion also explores the outlook for the broader market. Smothers argues that earnings growth, expanding participation beyond large-cap technology stocks, and stronger performance from sectors including consumer staples could provide a foundation for continued gains across the equity market.

Looking ahead, Smothers expects investors to remain closely focused on AI profitability, earnings quality, inflation trends, interest rates, and the impact of geopolitical events on financial markets.

Throughout the interview, Smothers shares insights on artificial intelligence, technology investing, earnings season, capital expenditures, inflation, market leadership, consumer spending, oil prices, and the future outlook for U.S. equities.

Disclaimer: Informational content only. NYSE does not endorse or recommend investments, strategies, companies, products, or services discussed.

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