Squawk on the Street SOTS 2nd Hour: PCE Breakdown, S&P/Nasdaq Record Highs, & Top Tech Picks w/Dan Niles 6/27/25
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Jun 27, 2025 Dan Niles, founder of Niles Investment Management and a seasoned tech investor, shares insights on the tech stock surge and market trends. He discusses how rising PCE and inflation report impact the broader economy, warning of potential market volatility by Thanksgiving. Niles reveals his top tech picks for investment and reflects on the current state of Nike, which is experiencing a remarkable recovery. The conversation also touches on the future of crypto in homeownership and the innovative efforts in EV battery recycling.
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Consumer Weakness and Fed Dilemma
- The May personal spending decline signals consumer weakness despite inflation concerns.
- This raises a Fed debate between guarding against inflation and supporting a weakening economy.
Bull Case Hinges on Productivity
- U.S. equities benefit from productivity growth and structural trends like AI.
- However, retail sentiment is rising, making markets fully valued in the short term.
Ride Tech Rally, Watch For Pullback
- Enjoy the tech rally but expect a market wall by Thanksgiving due to demand pull-forward.
- Ignore valuations for now and watch investor reactions to data daily.