‘A strange calm’ has settled over the markets as investors ignore the risks ahead

Photo: Woman floating in transparent turquoise sea. Aerial view. - stock photo (Credit: Maria Korneeva via Getty Images)

• Despite significant macro risks ahead—including looming tariffs and weak consumer spending—markets remain buoyant, with the S&P 500 hitting a record high of 6,173.07 and futures rising further. Investors appear to be expecting either a tariff deadline extension or Federal Reserve rate cuts to support stocks. 

The S&P 500 set a new record on Friday and S&P futures are up 0.37% this morning. That’s interesting because there are clear macroeconomic risks on the horizon, which investors seem to be ignoring—at least for now.