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GDP increased at a 2.8% annualized rate, while personal spending advanced 2.3%. "This is a perfect report for the Fed."

Because the Supreme Court overturned 40 years of federal agency deference, the ESG case is headed back to the Texas judge who originally heard it.

Investors are focused primarily on the Fed, currently pricing in at least two quarter-point interest rate cuts before the end of the year.

"Investors still have faith that the dollar itself, regardless of the state of the actual government, will continue to be the global currency of choice and keep value in a fraught political situation."

About 300,000 employees sued FBG for mismanaging their benefit plans by collecting "ill-gotten profits" from their retirement, health, and fringe-benefits plans.

"Now that inflation has come down and the labor market has indeed cooled off, we're going to be looking at both mandates. They're in much better balance."