Eric Diton says not to read too much into the December retail sales report because of harsh weather. Tariffs and inflation remain a concern, but the explanation may be simpler, he argues. He believes the consumer is still strong overall, though he notes that many people are struggling in the bottom half of the K-shaped economy. He “doesn’t want to bet against” the Mag 7 and thinks software will continue to do well. Eric discusses international tailwinds boosting equities around the world and thinks it’s historically time for a rotation.