How's the stock market doing, minus AI?

The S&P 500 has hit more than two dozen record highs this year, but the surge is largely driven by AI firms, while many other public companies struggle. This episode examines the growing split between AI stocks and the rest of the market, rising auto loan delinquencies as a sign of consumer stress, what to watch in the upcoming Q3 earnings season, and how the yield curve serves as a window into the bond market's outlook.