Closing Bell Closing Bell: Trading AI Anxiety 11/18/25
Nov 18, 2025
Mike Santoli, CNBC's senior markets commentator, shares insights on the upcoming earnings report from NVIDIA. The discussion touches on whether the recent market pullback is nearing its end and the nuances of AI valuations. Guests including Liz Thomas and Brian Belski debate the potential for selective opportunities in tech amidst worries of a bubble. Aswath Damodaran warns about stretched tech valuations while Elizabeth Burton highlights investment opportunities outside the U.S. Dives into Bitcoin's volatility and implications of circular AI deals add even more depth to the conversation.
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Healthy Washout In A Strong Bull Market
- Market pullbacks during strong bull runs can be healthy washouts that prevent excessive exuberance.
- Liz Thomas and Brian Belski argue we're closer to the end of the recent pullback, not its beginning.
AI Trade Needs Stock Selection
- Fund managers widely view AI stocks as potentially in a bubble, driven by sentiment shifts.
- Sonali Basak and Brian Belski stress stock-by-stock differentiation and the need for selectivity in the AI trade.
Debt Raises Trigger Sentiment More Than Risk
- Tech companies issuing debt after long cash accumulation fuels sentiment concerns despite healthy balance sheets.
- Liz Thomas notes debt raises often reflect efficiency choices, not cash distress.