Fox Business · Oct 4, 2026
With Chris McMahon, President and CEO of Aquinas Wealth Advisors
Without Meta and Microsoft, the stock market would be "in a bad spot right now", Chris McMahon said, and he does not expect relief on interest rates until the middle of next year.
The market is heading for another up quarter. McMahon said the gains are narrow, another rate rise is likely before year end, and his firm is worried about what that does to housing.
"I think housing is a catastrophe at 8% mortgage rates. I really do." — Chris McMahon
Chris McMahon, President and CEO of Aquinas Wealth Advisors, on Fox Business, laid out three themes in his latest note to clients: AI infrastructure spending, a broadening of the market, and rising rates. He named the stocks he owns and the ones he would buy.
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Key Takeaways
McMahon said the last 60 days have been "all about M&M": Meta and Microsoft
He expects another rate rise before year end and no relief until the middle of next year
His firm owns Micron going into its earnings, and likes Seagate, Coherent and Rockwell
Small caps become a buy once rates stop rising, he said
He said it is time to buy DocuSign, and time to re-enter Boeing
On Nike, he would buy with a stop-loss around $28
1. A Stock Picker's Market
The host said the market had held up even after the PCE inflation report, and asked whether McMahon was making changes.
Two stocks have carried the market, he said, and rates are the problem
"I think I think it's a stock picker's market more than ever before. I think you know, if you look even what happened Charles in the last 60 days, it's all about M&M, right? Meta and Microsoft. If it wasn't those two, we'd be in a bad spot right now." — Chris McMahon
He said he does not see relief on rates until the middle of next year, and expects another rate rise before the end of this year.
"We're seeing another interest rate rise before the end of this year, and we're very worried about that situation, what's going to happen to housing." — Chris McMahon
The host added that a lack of housing supply is not helping.
