The Truth About the S&P 500: Why Manufacturing Won’t Show Up

Joseph Wang, CIO at Monetary Macro and a former senior Fed trader, joins Ash Bennington to share why he believes equities could have more downside, what the market is misreading about Trump’s agenda, and why the Fed is stuck in purgatory.

🔑 Key Insights:

• 💻 Tech Dominance in the S&P 500: Traditional industries like steel and autos are nowhere to be found—big tech still rules! 📈 But how does this impact the future of re-industrialization? ⚙️🏭

• 📊 The Shift in Economic Balance: Even if the economy moves toward manufacturing, it won’t show up in the major indexes. Instead, watch employment, interest rates, and consumer spending for clues. 🔎💵

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