Commonwealth's McMillan: The other 493 S&P stocks are reasonably valued

Brad McMillan, chief investment officer for Commonwealth Financial Network, says that while market valuations are high right now on a historic basis -- which might make investors cautious -- the sky-high prices for the Magnificent Seven stocks that have been leading the market to record levels have left room for the other stocks in the index to be particularly reasonable. That means the market's overall valuation is more reasonable than headlines suggest, and there is room to grow in other sectors. Likewise, economists are feeling like economic policies are working well enough to avoid big problems like recession this year -- according to the latest Policy Survey from the National Association for Business Economics, released today; Lester Jones of the NABE survey committee discusses how economists still have some worries about fiscal policies and how the Federal Reserve might mess things up. Plus David Trainer of New Constructs revisits a Danger Zone pick that has fallen dramatically but that he thinks will go all the way to zero in due time, and author Jared Dillian talks about his new book "No Worries: How to Live a Stress-Free Financial Life" and how three key financial decisions will determine how easily you can avoid feeling day-to-day financial pressures.