Crude oil over $100 and the 10-year Treasury yield above 5% are two pain points for the stock market, says Charles Schwab's Joe Mazzola. Both metrics don't just change market dynamics, but also serves as headwinds for future earnings should these overhangs persist. Joe points to AI's violent rotation as another dynamic to watch. Michelle Gibley turns to the global stage and discusses how some economies are mirroring the U.S. through their own interest rate hike talks. She sees European companies as strong buoys for portfolio diversifiers.