Editorial Representation of Liz Ann Sonders
EDITORIAL REPRESENTATION

US EQUITY MACRO

Liz Ann Sonders

As of 29 September 2026, Liz Ann Sonders holds 20 current views on Headge, 12 Bullish, 1 Neutral, 7 Bearish. The latest is Bearish on SPY over 1 Month. Every view links to the original post or video.

Schwab Chief Investment Strategist. US equity and macro, labor, breadth and valuation. Chart-led X feed; Schwab Network video waits on attribution.

FOLLOW ALERT ON NEW VIEW @LizAnnSonders
VIEWS 7
LAST PUBLISHED 3D AGO

Catch-Up

Generated 08:00 ET

The picture is unchanged: record-high equities still sit alongside weak breadth, cautious positioning and housing softness, leaving the near-term backdrop less resilient than headline index strength suggests. Labor signals are mixed, with softer continuing-claims trends offset by a better-than-expected weekly claims print, while manufacturing data point to firmer activity but building price pressures.

At Generation 3 Higher · 0 Neutral · 4 Bearish
Mix By Horizon
1 Week
1 Month
1 Year
Held
SPY
BEARISH
Stock market strength is masking underlying breadth weakness beneath the surface despite record highs, signaling a less resilient near-term equity backdrop. Month
LABOR
LOWER
Continuing jobless claims moved into double-digit year-over-year declines for the week ended September 12, signaling a weaker labor-market trend. Month
Positioning & Vol
BEARISH
AAII bearish sentiment remains dominant despite the bull-bear spread rebounding to negative 15.4%, indicating persistently cautious investor positioning. Week
Inflation
HIGHER
Manufacturer pricing pressures continue to build as the gap between prices paid and prices received widened in the latest Kansas City Fed survey. Month
Housing
LOWER
New-home median sales prices fell 5.8% year over year to $399,700 in August, likely reflecting builder incentives designed to attract buyers. Month
Growth
HIGHER
Kansas City Fed manufacturing activity strengthened in September, with new orders and shipments accelerating above prior readings and expectations. Month
LABOR
HIGHER
Initial jobless claims fell to 197,000 versus 200,000 expected, while continuing claims were 1.719 million against estimates of 1.740 million. Week
Gone
Housing
LOWER
Mortgage applications fell for a third consecutive week as 30-year mortgage rates rose to 7.12%, their highest level since May 2024. Week

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Sentiment Graph

Last 30 Days
Today
SENTIMENT GRAPH

Current Views

ANALYSTDIRECTIONTOPICSUMMARYHORIZONFRESH
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
BEARISH Moderate
SPY
Stock market strength is masking underlying breadth weakness beneath the surface despite record highs, signaling a less resilient near-term equity backdrop. DIRECTION ONLY $SPY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 3d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
LOWER Moderate
LABOR
Continuing jobless claims moved into double-digit year-over-year declines for the week ended September 12, signaling a weaker labor-market trend. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 3d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
BEARISH Moderate
Positioning & Vol
AAII bearish sentiment remains dominant despite the bull-bear spread rebounding to negative 15.4%, indicating persistently cautious investor positioning. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Week 3d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Moderate
Inflation
Manufacturer pricing pressures continue to build as the gap between prices paid and prices received widened in the latest Kansas City Fed survey. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 3d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
LOWER Moderate
Housing
New-home median sales prices fell 5.8% year over year to $399,700 in August, likely reflecting builder incentives designed to attract buyers. LEVELS · TARGET 399700
Post(Opens in a New Tab)
Agree Disagree
Model
Month 3d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Moderate
Positioning & Vol
AAII bullish sentiment rebounded in the week ending September 23, but bearish sentiment remains quite elevated despite the latest improvement. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Week 4d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Moderate
Inflation
Kansas City Fed manufacturing prices paid rose to 68 in September from 55 previously, signaling stronger input-cost inflation pressures. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 4d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Moderate
Growth
Kansas City Fed manufacturing activity strengthened in September, with new orders and shipments accelerating above prior readings and expectations. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 4d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Moderate
Housing
August new home sales rose 6.4% month over month versus 1.3% expected, while the median new home price increased 0.4% to $393,700. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 4d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Moderate
LABOR
Initial jobless claims fell to 197,000 versus 200,000 expected, while continuing claims were 1.719 million against estimates of 1.740 million. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Week 4d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Weak
Inflation
US Composite PMI selling prices ticked higher in September, though they remained below the elevated levels recorded between March and July. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 4d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Strong
Growth
US Composite PMI rose to 58.4 in September as growth reached a five-year high, led primarily by strength in services. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 4d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
LOWER Moderate
Housing
Mortgage rates above 7% are increasing adjustable-rate mortgage activity, signaling that borrowers are taking on more risk in the housing market. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 4d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Strong
Growth
U.S. manufacturing, services, and composite PMI readings rose well above estimates and prior levels in September, signaling stronger business activity. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 5d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
LOWER Moderate
Housing
Mortgage applications fell for a third consecutive week as 30-year mortgage rates rose to 7.12%, their highest level since May 2024. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Week 5d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
LOWER Moderate
Growth
Manufacturing capital-expenditure activity slid further into contraction in September and has not expanded for more than two years. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 5d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Weak
Growth
Richmond Fed manufacturing remained in expansion territory in September after adjustment for ISM methodology, despite falling to 50.8. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 5d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
NEUTRAL Neutral
Positioning & Vol
Moving-average breadth charts indicate market participation is the focus, without a stated directional implication for equities or volatility. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Week 5d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
HIGHER Moderate
Inflation
Philadelphia Fed services prices paid rose to 37.8 in September from 29.2 previously, signaling firmer services inflation pressures. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Month 6d
Editorial Representation of Liz Ann Sonders Liz Ann Sonders US EQUITY MACRO
BULLISH Moderate
AI
AI has become increasingly central to corporate discussion, with 67% of S&P 500 companies citing it on second-quarter earnings calls and especially high mention rates across technology, financials, and communications. DIRECTION ONLY
Post(Opens in a New Tab)
Agree Disagree
Model
Year 6d

Wordcloud

ClaimsJoblessCityContinuingFedKansasAAIIInitialManufacturerManufacturingMarketMedianPressuresPricesPricingSalesSentimentStockDespiteFellHomesIndexMillionPriceSeptemberSignalingAboveAcceleratingActivityAttractAugustBackdropBearishBeneathBreadthBuildBuilderBuyersCautious

Direction By Day

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Sentiment Heatmap

15 SEP16 SEP17 SEP18 SEP19 SEP20 SEP21 SEP22 SEP23 SEP24 SEP25 SEP26 SEP27 SEP28 SEP
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Housing▲▼▼▼▼▼▼▼▼▼▼▼▼▼
Inflation▲▲▲▲▲···▲▲▲▲▲▲
LABOR▼▼▼▲▲▲▲▲··▲▼▼▼
Positioning & Vol▲▲▲▼▼▼▼▼■■▲▼▼▼
SPY···········▼▼▼
Tariffs & Geopolitics▲▲············

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