Friday's market may struggle amid current news cycle, says Cerity Partners' Jim Lebenthal

• Market is "unsettled" and "uncomfortable," with Fridays likely to be challenging due to the news cycle and upcoming long weekends.
• Economy has "cushions" like low jobless claims and capital expenditures, and is fundamentally strong with good earnings and GDP growth.
• Concerns about the Middle East conflict and a potential closing of the IPO window could negatively impact banks.
• Mega-cap tech stocks like Microsoft, Alphabet, and Amazon offer "defensive growth" and "good value" at current multiples.

Jim Lebenthal describes the market as "unsettled" and "uncomfortable," especially for Fridays given the news cycle and upcoming long weekends. While acknowledging a strong underlying economy and good long-term prospects, he expresses short-term caution due to geopolitical risks and potential impacts on sectors like banking.