Ocean Park's St. Aubin: Market is overvalued but downside risk isn't too high

James St. Aubin, chief investment officer at Ocean Park Asset Management, says that the stock market's flirtation with record highs is showing some overvaluation — increasing the potential downside risk — but he only expects that risk to be realized "if the narrative changes, if something comes out of left field that shakes the whole foundation of what is building market optimism today." His most likely candidate for that confidence-breaker is not war or current events, but some change in the artificial-intelligence boom that has been driving spending and earnings growth. St. Aubin says that if negative data on sentiment and feelings winds up showing up in changed habits and spending patterns, it could create economic problems, but until that happens, he says inflation and other concerns are not likely to derail the market's uptrend. Andrew Chanin, chief executive officer at ProcureAM — which runs the Procure Space ETF (ticker symbol: UFO) talks about how space may be the next frontier in investing, particularly in light of the excitement coming off of the recent Artemis moon mission, which highlighted not only the potential investment avenues but the prospects for private companies to drive the future of space exploration. He explains how concepts like "solar space energy" could help to power Earth-bound needs for more energy, and how satellite changes are impacting communications industries and more. Plus, researcher Allison Hadley discusses a study conducted for Partnercentric.com, which focused on Americans' impulse spending, which found that more than four in five consumers have made at least one impulse buy already this year, with an average of seven purchases made in the first quarter alone, and a median spend of $50 per purchase.