Parag Sanghani of the Westwood Holdings Group, manager of the firm's Enhanced Energy Income and Enhanced Midstream Income ETFs, says that the ongoing war in Iran has pulled volumes from inventories early, creating synthetic demand that will keep prices higher for several years. That benefits the oil companies and stocks that Sangahni likes, but it hurts by creating a tax at the gas pump, which he expects to remain in place longer than most projections. Sanghani says he currently likes the entire spectrum of energy investments, not just oil and gas, noting that power demands are expected to keep growing beyond current capacity constraints for years to come.

Matt Freund, co-chief investment officer at Calamos Investments, says that productivity, GDP growth and earnings are "what matters," and that the headline risks that are driving consumer sentiment are "distractions" from a market backdrop that is solid. He says inflation remains the big risk, but notes that the investor sentiment is creating opportunities, particularly in closed-end funds where they are reflected in discount trends.

Plus, Stephen Lubben, a law professor at Seton Hall University, discusses his recent book, "To Protect Their Interests: The Invention and Exploitation of Corporate Bankruptcy," and how the nation's bankruptcy laws have been used in ways that don't protect the broader economy from the failure of big firms but instead protect wealthy power brokers from facing financial consequences of mistakes and misdeeds.