Trading ahead of the Apple iPhone event & the upcoming CPI report

• Macroeconomic concerns include rising WTI crude ($92.30) and Brent crude ($97.55), record high diesel prices, increasing US Treasury yields (2-year at 4.394%, 10-year at 4.798%, 30-year at 5.252%), and the looming CPI report.
• Despite market dips, panelists highlight the resilience of momentum stocks and the 'Magnificent 7' (MAG7), with some noting that MAG7's performance has caught up to the S&P 500 after a period of underperformance.
• Strong earnings are seen as a significant tailwind, with HSBC raising its S&P year-end target to 8,100 and Deutsche Bank reporting a bullish shift in investor sentiment for the first time in seven weeks.
• Specific stocks like Nvidia (NVDA) and Microsoft (MSFT) are mentioned for their strong fundamentals and potential for continued growth, while Amgen (AMGN) is noted for a significant intraday drop.

The discussion centers on current market dynamics, upcoming economic reports like CPI, and the Federal Reserve's potential actions. Panelists debate whether strong corporate earnings and the resurgence of momentum stocks, particularly the 'Magnificent 7', can outweigh macro headwinds such as rising oil prices and bond yields, with a generally positive outlook prevailing.