Fenton Shellman Wealth Management Team - Stifel

08/25/2026

The dog days of August may be providing a glimpse of what investors should expect following the midterm elections. The resulting gridlock is likely to mean that Congress will be limited in what it can pass. Instead, it is expected that the regulatory agencies and the Federal Reserve are to be the venues where the policy action takes place.

Read more in Potomac Perspective from Brian Gardner: https://livesocial.seismic.com/aZ60Ad

08/25/2026

News reports suggest that President Trump is considering proposals to cut the capital gains tax. The idea that the Treasury Department can act independently to change the rules for the capital gains tax has been floated before, but doubt that it has the authority to act. Absent administrative action, Congress would need to change the law and that is unlikely to occur in 2026. In this note, Brian Gardner, Stifel's Chief Washington Policy Strategist reviews some of the options and describes the significant hurdles that each proposal would face.

Read more here: https://livesocial.seismic.com/afie8-

08/05/2026

U.S. equities were choppy and two-sided in July. The S&P 500 started the month strong before pulling back, then rebounded into month-end to finish little changed.

Read the full piece here: https://livesocial.seismic.com/asrf2X

08/04/2026

Recent developments in the Middle East suggest the path to peace may be more complicated than it appears. In this , our CIO Office discusses why escalation and negotiation can be part of the same strategy, what coercive diplomacy means in practice, and why a Managed Off-Ramp remains the most likely outcome despite rising risks and uncertainty.

https://stifel.info/SL072826

08/03/2026

Recent insights from Treasury Secretary Scott Bessent highlight a nuanced economic landscape. While the initial estimate of second quarter GDP shows a slowdown to 1.5%, Bessent views this as a technical adjustment rather than a sign of weakness, citing strong manufacturing and employment data.

Inflation appears to be trending down, with important measures like core PCE reflecting lower rates, even as tensions with China over AI and rare earth minerals simmer. Understanding these dynamics is crucial as they could shape future economic conditions and geopolitical relationships. Keeping an eye on these factors may provide context for broader market implications.

Business News | Financial News | Stock Market Quotes - FOXBusiness.com

07/28/2026

In this Potomac Perspective, Brian Gardner discusses what a Democratic win could mean for certain sectors and how policy may, or may not, change. Following that, they explain why they think a Democratic takeover of the House is likely, but by a smaller margin than has occurred in past elections. They also present the reasons why they think that Republicans are currently favored to win the Senate.

Read more here: https://livesocial.seismic.com/aoloHP

07/27/2026

The Federal Reserve is taking a closer look at itself. Under new Chair Kevin Warsh, five task forces have been launched to review how the Fed measures the economy, manages its balance sheet, communicates with markets, and approaches inflation. In this , our CIO Office explores what these reviews could mean for monetary policy and why changes to Fed communication may matter most for investors.

https://stifel.info/SL071626

07/24/2026

In addition to working on another reconciliation bill and a stopgap funding bill for the fall, Congress is working on a cryptocurrency bill (yes, still!) and a community bank deregulatory bill. Despite some positive headlines about both bills, there are reasons to be skeptical about their prospects. Also, data centers and their impact on energy costs are getting more attention in the House. We are uncertain if legislation will pass in 2026, but the issue will stick around.

Read more in today's Potomac Perspective from Brian Gardner, Stifel's Chief Washington Policy Strategist:
https://livesocial.seismic.com/aFl4Lo

07/17/2026

U.S. equities pulled back, with the S&P 500 falling in June and slipping from record highs as a late-month sell-off in technology weighed on the cap-weighted index, offsetting strength in value, defensive, and smaller-cap areas of the market.

Read the full piece here: https://livesocial.seismic.com/aZlwTD

07/16/2026

Congress is back in session this week and the Senate will try, yet again, to strike a deal on a cryptocurrency bill. Congressional leaders will also try to make progress on a series of budget-related bills. Several congressional hearings relevant to the markets, especially for bank and financials investors, are scheduled to take place this week. The heads of the Federal Reserve and the Consumer Financial Protection Bureau will both testify before the House Financial Services and Senate Banking Committees.

Click here to read more in Potomac Perspective from Brian Gardner, Stifel's Chief Washington Policy Strategist: https://livesocial.seismic.com/aPiAWh