Halftime Report New Month, New Strategy 11/3/25
Nov 3, 2025
Join market strategists Joe Terranova, Kate Moore, Carrie Firestone, and portfolio manager Steve Weiss as they dissect their November market strategies. They explore the implications of mega-cap tech concentration and the latest on hyperscaler spending. Joe reveals key shifts in the GOT ETF rebalance, while Kate analyzes Amazon's strategic AI partnerships. The team also debates attractive entry points in biotech and the impact of Kimberly-Clark’s acquisition on consumer staples. Finally, they share top trade ideas as year-end approaches.
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Market Concentration Returns
- The market has become concentrated again, rewarding a handful of tech mega-caps over broad diversification.
- Joe Terranova warns equal-weight strategies now underperform because performance is concentrated in a few leaders.
Mega Caps Backed By Fundamentals
- Mega-cap tech fundamentals remain strong with cash generation despite concentration concerns.
- Kate Moore argues fundamentals, not just multiple expansion, justify the mega-cap leadership in 2025.
Heavy AI Spend Raises Future Risk
- Mega caps are spending heavily on AI build-outs and borrowing more, raising long-term profit risk.
- Carrie Firestone cautions that high capex and debt increase pressure on future revenue and margins.