>> While little is a word many are using to describe the economy these days, war in the Middle East is disrupting oil prices and tariffs are still adding a layer of uncertainty to trade.

Meanwhile, stocks are down to start the year.

The S the S and P 500 is down 2 and a half percent.

The Dow is down nearly 3%.

And the Nasdaq is down nearly 4% since the beginning of 2026. joining us to discuss what all that means.

Our Daniel more a financial adviser at 7 Wealth management.

And to tell us Tasso Smiliar is a professor of economics at Loyola University of Chicago.

Can you pronounce your name?

I also got perfect that there's a lot to talk about than you know, I want to start with you for viewers who might not have paid attention to the stock market trends.

>> What has been happening in the stock markets is the beginning of the year.

What should they know?

Very fair question.

I think you summarized it well in the beginning by saying there's a lot going on.

So the markets have been an even the reason say their uneven is because the market is constantly assessing the price.

What disc how do I want to pay to Dayton for the market for future profits?

Right?

So there's a lot of uncertainty in regards this ongoing war in Ukraine.

We've got conflict in the Middle with Israel.

The U.S.

Iran.

There's a lot of uncertainty that changes by the day by the minute.

And all that's factored into the pricing of the market as well as we've got inflation, we've all kinds information coming out of political administration on a daily basis.

This is just never ending tariffs.

How you keep up?

>> It's doing is constantly price Enid and so the market is our friend in the sense that it pays us a premium for participating if this didn't exist, if it was just flat stable, we want to get a nice return.

We would get in the long run, a risk free rate of return, right?

That when it.

>> supporting our long-term wealth goals.

So and tells us I want to bring you when want to talk about Iran a little bit house warn Iran affecting global markets.

>> Well, there it is.

The markets to react.

2 events that have not been anticipated and obviously no one anticipated.

And what is currently happening.

Markets in general of all of because they constantly and continues try to reevaluate what does happen predictable.

A predictable.

But what is interesting to note with the kids, this is result of the Iran war.

The volatility has increased from what it's usually at around 20 point to approximately 30.

I do not want to know the viewers to poke through that.

This is a very bad event because a year ago when the Trump administration introduced parrot, the volatility then was significantly higher and it went all the way to 40 points.

So.

There is volatility, volatility because of the war.

live in an uncertain situation.

But if you look at the futures markets and you look at the price oil in September or October for 5 months from the price is expected to return back when it's the actually want to ask you about what's happening with oil prices because you turn on the and a lot going on on prices have been reasonably stable to approximate the 60 to $70.

And as a result of that, >> gasoline prices as well because they're highly are a Now that the Iranians are trying to to put up those other mines >> In this straight.

20% of the oil goes show the A's and worry about the supply of approximately 20% of the volume.

And as a result of that, the prices jumped from 60 to 90.

>> Does that affect the economy?

>> If the fix the economy probably at one thing for one percent year.

So it does, but not really significantly.

But the the markets, lot of excitement.

And I think right now we're trying to assess.

The door ability of the difficulties that would expand keeping a close eye and a nail.

>> People sometimes say the stock market is not the economy outside of the stock market.

What else is affecting how people feel about the economy now which say outside of house and make feel.

>> I'd say the economy and the market are not one and the same.

So the economy is looking at and this is So that's pretty where we're at today.

Where's the figures wears everything?

Stand today?

Again, the market is a practicing mechanism.

What those expectations for the future.

And when we do say that things you open with the markets off a couple percent for the year, right?

That sounds negative.

If you have a diversified portfolio and you all not only of stocks, you own bonds finds get returns in the way of price appreciation and income.

And we have some income this year to make those positive international markets have done very well.

And you have the benefit of currency appreciation, bringing those back to U.S.

dollars.

So you can still have a diversified portfolio and have a positive rate of return right now.

So the the whole point this is don't react with emotion.

Know that volatility, gses know that for the long term you're rewarded for that.

But discipline having a plan and falling at times like this.

When you're tested, you are rewarding and a long ride.

You understand people are nervous.

I can understand Ris please do not.

We acted based on that.

Seek out advice.

Follow your plan, connect with your financial advisor and test as you talk a little bit about stability.

How can federal policy stabilize or destabilize the economy?

>> Well, we are very, fortunate to have institutions that look at the economy and try to regulate it.

And one, of course, is the Federal and the Federal Reserve.

Blaze.

important role when the economy is weak to try to stimulate a little bit.

And when things are like inflation, to try to regulate it.

To the analogy.

I would like to mention between the economy and the stock market.

It's like the rabbit and the turtle that that's a good.

Okay.

That's is the economy that was only day today.

The stock market rice to see into the future.

And run very fast.

And many times gets too excited and then has to slow down and return back.

Overall.

The U.S.

economy today is doing very well.

Unemployment remains low.

Inflation is down to 2%, which is ideal.

But it's approximately 2.5 by some measures.

And the Federal Reserve remains independent and willing to do its job.

I really appreciate the way you break it down that we only have a couple seconds.

but what I want to ask is would advise.

>> Would you give to people who feel like they're struggling right now in this economy?

>> If you're struggling, anything you can do in terms of putting away and saving for your future times of volatility can create wealth.

If you're at the point where you're pulling income from your portfolio, stick to the plan.

Don't react to what's