Be cautious because yields may have fallen too quickly, notes Brian Mulberry. He discusses near-term market expectations. He talks about how markets may have risen just as fast. He mentions that we have not seen a material acceleration in job losses. He highlights that wages are still increasing and that creates a scenario where spending is more durable. He outlines how far inflation will need to fall for the Fed to cut rates. He then goes over his stock picks which include Microsoft (MSFT) and Home Depot (HD). Tune in to find out more about the stock market today.