The S&P 500 has essentially ripped through the year with a relentless bid, printing fresh records and now sitting 12% up YTD on price. AI-fueled megacaps continue to do the heavy lifting, with the Magnificent 7 (Mag 7) now amounting to a third of the index’s value. That incredible mix of record highs, narrow leadership, and a market banking on Fed-cut hopes has investors eyeing both momentum and the roadblocks ahead. Into that backdrop, veteran economist David Rosenberg just dropped a massive new take on ...