Halftime Report The Setup for Stocks into Year-End 11/26/25
Nov 26, 2025
Joe Terranova, a veteran market strategist, shares insights on market idiosyncrasies and the importance of thematic trades like AI. Liz Thomas emphasizes healthcare's strong performance amid tech rotation, while Steve Weiss dives into the risks of tech leverage and discusses Apple’s growth trajectory. The committee also debates key stock picks for the holiday season and the significance of Cyber Week for retailers. They reflect on stocks they’re thankful for, including industry giants like Amazon and Alphabet.
AI Snips
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Transcript
Episode notes
Market Has Become More Idiosyncratic
- Market personality has shifted to more idiosyncratic, selective leadership amid AI-related thematic trades.
- Broad participation and holding the 100-day moving average suggest the S&P could challenge highs into year-end.
Rotation Toward Health Care And Value
- Leadership is rotating into health care, materials and consumer discretionary after recent beta breakdown.
- Investors are seeking more attractive valuations and opportunities beyond narrow tech darlings.
Assess Leverage Relative To Cash Flow
- Don't broadly vilify tech leverage; assess debt relative to cash flows and business quality.
- Consider selective buying where leverage is reasonable and fundamentals support returns.