Closing Bell Closing Bell: How Far Can the Rally Run? 10/24/25
Oct 24, 2025
Lo Toney, founding managing partner at Plexo Capital, shares insights on tech-sector trends and mega-cap earnings. He highlights AI-related capital expenditures and their impact on big tech companies like Meta and Microsoft. Toney also discusses competition from AI-driven browsers threatening Google's search dominance. Furthermore, he explains the complementary role of quantum computing to GPUs and how this advancement may enhance AI efficiency. All this comes as the market hits record highs and anticipates more gains.
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Economy Is Strong; Fed Cuts Are Priced In
- Jeremy Siegel views the economy as holding firm with cooling inflation and strong earnings supporting all-time highs.
- He expects a 25bps Fed cut in December and mid-3% policy rates by early next year.
AI CapEx Plus Stimulus Powers Rally
- Cameron Dawson highlights fiscal and monetary stimulus plus AI-driven CapEx as drivers of the rally.
- He warns sentiment can get frothy and cause volatility if prices outpace fundamentals.
Avoid Premature Rate Cuts
- Ed Yardeni advises caution about cutting rates because easing can fuel froth and big bubbles.
- He argues the economy has tolerated current rates and cuts won't fix underlying labor or housing issues.
