Emerging market consumers are going to play a 'HUGE ROLE' in this, CEO says

• Emerging markets are expected to outperform due to global growth, a declining dollar, better earnings, and cheaper valuations, with many American investors currently underweight.
• Valuation concerns persist in the US market, with expensive stocks (like the 'Magnificent 7') showing underperformance year-to-date compared to lower price-to-sales ratio stocks.
• A strong US economy, driven by tax refunds and corporate capital expenditures, could lead to higher bond yields, further supporting a market rotation.
• Citigroup (C) is highlighted as an attractive financial stock due to its relative cheapness and strong performance, despite broader AI concerns in the financial sector.
• The 'Magnificent 7' tech stocks are experiencing a 'changing of the guard,' with some, like Apple, showing less capital expenditure growth compared to others like Amazon and Microsoft, leading to varied performance.

The discussion highlights a significant shift towards international and emerging markets, driven by global growth, a weaker dollar, and attractive valuations. While there are concerns about high valuations in some US large-cap tech stocks, opportunities are seen in undervalued sectors and specific financial names like Citigroup. The market is experiencing a rotation, with broader earnings growth outside the 'Magnificent 7'.