Closing Bell Closing Bell: 11/10/25
Nov 10, 2025
Tom Lee, co-founder of Fundstrat Global Advisors, dives into the robust AI fundamentals and market relief from the recent government shutdown. Glenn Kacher, founder of Light Street Capital, offers insights on AI adoption timelines, emphasizing which tech stocks to embrace or be wary of. CNBC's Mike Santoli contextualizes market volatility and the interplay of macro data with investor sentiment. Together, they dissect the future of AI investments, Bitcoin correlations, and the potential for a year-end market rally.
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Tech-Led Rebound Restores Market Leadership
- The Nasdaq led a strong rebound driven by big tech and chip names after a volatile week for AI stocks.
- NVIDIA, Meta, Amazon and chipmakers like AMD and Broadcom powered the comeback and outperformance.
AI Fundamentals Still Compelling
- Tom Lee argues AI fundamentals remain strong with clear visibility for spending and innovation gains.
- He notes NVIDIA trades at ~29x forward earnings, not a bubble relative to some critics' claims.
Wobble Triggered Profit-Taking, Not Structural Collapse
- Lee says market wobble triggered profit taking on leaders and highlighted fund managers' underperformance versus recent gains.
- He expects seasonal year-end chasing to bolster markets into year end.