S&P 500, Nasdaq hit record highs — three market experts look at what’s next

Three experts joined CNBC to discuss where markets are headed next.

Mike Wilson, chief U.S. equity strategist at Morgan Stanley, says expectations may have been too lofty and a market cooldown could be healthy. "We've seen consumer confidence … suggesting the consumer is fading a bit — not a recession but the consumer is tired — and that's been our thesis all along. Is there's going to be a payback here on demand? Overnight, our economics team actually lowered their GDP forecasts from 6.5% to 2.9% for the third quarter.

Tom Forte, senior research analyst at D.A. Davidson, discusses one critical issue for the largest publicly traded company on Wall Street —"My thesis is that over time that 30% commission that Apple collects from the App Store to decline to a lower number such as 10%. I think maybe the hope from some investors is that if Apple can make these adjustments on its own, it won't require the government to step in and maybe come up with a more onerous solution for Apple.

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