It seems almost humorous that bullish Wall Street strategists and even more bullish financial media talking heads continue to tout that a Federal Reserve pause, and perhaps even a rate cut, may soon be in the cards. However, the 4.9% year-over-year inflation print for April is still way above the 2% Fed mandate level. Perhaps even worse, we are about three weeks from a default of the U.S. government debt, which could bring disaster.
What should worried investors do now? Take profits on high-flying big tech, as only 10 stocks have driven 95% of the S&P 500 gains, and they are almost all mega-cap tech firms, and look to the Dividend Aristocrats for safety.
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