Disappointing earnings from Intel and Amazon added to a rough week for AI stocks, pushing investors into Treasuries. Bessemer Trust CEO Holly MacDonald said the selloff could be a time to pause and reassess or an investment opportunity, and she remains constructive on the economy, markets and the long-term AI buildout, though expects a bumpy ride. She favors a mix of public and private, growth and defensive assets, pointing to defense, cybersecurity and mainstream companies benefiting from AI-driven productivity. A 10-year Treasury yield around 5% provides income and a defensive role, and she expects bonds to protect portfolios in nine of 10 downside scenarios. Bessemer retains 80% of clients through generational transfers and 90% between spouses, versus about half for wealth managers generally.
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SPY
▲ Likely positiveSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 769.36 |
| Change that session | -0.38% |
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