In this week’s Markets in Motion, Bruce Campbell breaks down what a weakening U.S. dollar could mean for commodities, small-cap stocks, and broader market leadership.
Drawing comparisons to the historical Plaza Accord, Bruce explains how renewed discussion around a so-called “Mar-a-Lago Accord” has coincided with a noticeable decline in the U.S. dollar — a move that is already driving momentum across commodity markets.
Precious metals, which delivered strong performance in 2025, continue to accelerate into the new year, but the strength is no longer confined to gold and silver alone. Bruce highlights growing upside momentum across platinum, palladium, nickel, and copper, noting that as commodity prices rise, investor interest is rotating down the capitalization spectrum.
Junior miners and smaller exploration names are beginning to outperform, a phase of the cycle where returns can accelerate rapidly as projects move toward economic viability.
Bruce also points to a broader market rotation underway, with money beginning to flow out of the Magnificent Seven and into less crowded areas of the market. Evidence of this shift can be seen in the equal-weight S&P 500 ETF outperforming the traditional market-cap-weighted index.
He closes with a look at energy stocks, which continue to show strength despite relatively flat oil prices — another signal worth watching as market participation broadens. Watch the full video for Bruce’s insights into where market opportunities may be forming next.
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