Editorial companion

What stands out

Tim Nyland told Schwab Network he expects the Fed to hold rates and called Microsoft and Tesla top picks inside the "Mag 7," arguing a broadening AI capital-expenditure story makes a renewed leadership run "very, very likely." The comment matters because it shifts the narrative from an isolated software AI trade to a wider capex cycle that could lift suppliers and platform owners alike. For investors, Nyland’s view highlights how macro steadiness and corporate spending trends can rekindle momentum in a handful of market leaders even when sentiment has cooled.