Companies like Nvidia (NVDA) rallied big off April 8th lows, but as Charles Schwab's Jeffrey Kleintop points out, the Mag 7 is still down on the year. Meanwhile, Europe's top 7 defense stocks are up 57%. Jeffrey talks about the dichotomy between the U.S. and international stocks and weighs if the U.S. can return to outperformance. Joe Mazzola says we're still stuck in a "headline-driven market." He says investors may not have fully priced in tariffs, which can lead to downside action.
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