US manufacturing jobs have worsened rapidly since “Liberation Day,” with accelerating losses and weakening sector conditions. The data point to growing labor slack and rising concerns about overall economic stability.

You are living through an unusually powerful bull market. While the run from the “Liberation Day” lows has been breathtaking, the data suggests you could see the Nasdaq double from here.

Making their favorable outlook more attractive is that Delta and United stock trade roughly on par with the industry average of 9X forward earnings and less than 1X forward sales despite being clear-cut leaders in the space.