The "old economy" is experiencing a resurgence as AI anxiety drives investors back to traditional sectors. Dow Transports are seeing renewed interest, marking a shift away from tech-heavy portfolios. This rotation reflects growing concerns about AI's impact on markets and the economy.

In major M&A news, Nuveen is acquiring Schroders to create one of the world's largest active managers with nearly $2.5 trillion in assets. The deal signals consolidation in the asset management industry as firms seek scale to compete in a changing market environment. Meanwhile, President Trump's tariff agenda faces a setback as the House passed legislation to remove some levies on Canadian imports.

The luxury collectibles market is also heating up, with a white 1962 Ferrari 250 GTO helping drive record sales at Mecum's auction. The CEO of Mecum discussed the growing frenzy in the collector car market, highlighting how rare assets continue to attract significant investor interest even as traditional markets shift.