Kevin Mahn discusses the S&P 500 (SPX) hovering near record highs as investor focus shifts firmly to earnings strength. He explains why a stable U.S. economy and cooling inflation could allow the Fed to hold rates steady, while healthy banking activity points to a resilient consumer. Mahn also highlights a stock‑picker’s market, pointing to opportunities across A.I. infrastructure, energy, aerospace, biotech, and selective international exposure.