After the S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) close at record highs, J.P. Morgan Asset Management global market strategist Jordan Jackson sits down with Market Domination Overtime Hosts Julie Hyman and Josh Lipton to discuss his view that tech stocks are likely to take a backseat this earnings season.

The strategist expects CEOs and CFOs will "continue to have this sort of benign outlook." He tells Yahoo Finance, "It's not great, but it's not bad either. And so I think in this environment, they can still flex a little bit of pricing power. You can still see the earnings recovery kind of come through for other sectors outside of technology, which I think is really important for the durability of this market rally, right. So I think you know co confidence is going to again be sort of benign. And I think the consensus is that soft landing has been engineered right. So that's that's a pretty solid backdrop for risk assets."

Going into earnings season, Jackson says, "I really want to be focusing on price pressures, how they're focusing in on margins. In an environment in which nominal GDP growth should take a step down over the course of 2025, every revenue model is probably going to reflect some of that adjustment. So the focus is really going to be on margins. How are they managing input costs? How are they managing wage pressures? Both seem to be sort of easing a little bit, although there could be a bit of a question mark on the input cost side. We do think that the dollar should gradually slide over the course of 2025 as well. That should be a boost to international earnings. Oil may, hopefully, stay pretty rangebound or at lower levels [which] bodes well for industrials [and transportation. So you kind of can paint yourself a broader picture where this roughly 15% EPs target for 2025 can be achieved."

"Obviously mega-cap tech continues to sort of drive valuations a little bit higher at the index level, but you could find pockets of value in other sectors of the economy. When you look at healthcare [and] utilities in and of itself, they're a little bit expensive. But relative to the broader S&P, they still look pretty attractive. When you look at industrials [and] materials. These are some of the sectors that we like that have really lagged the performance of the broader market. And we think can play a little bit of catch-up."

Watch the video above for more on Jackson's market expectations as macro-level uncertainties like the Federal Reserve's next move and the upcoming presidential election play out.