Halftime Report The State of Stocks 12/16/25
Dec 16, 2025
Stephanie Link, a portfolio strategist known for her insights in consumer and technology sectors, joins Joe Terranova, a market commentator offering trading perspectives, and Malcolm Etheridge from Washington D.C., who provides thematic market views. They discuss a surprisingly bullish sentiment among investors, the potential rebound for major tech stocks, and the importance of quality investments. The team also debates the resilience of retail investors, Bitcoin's market signals, and specific stock calls including Digital Realty and Costco.
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Record Fund Manager Bullishness
- Fund managers are the most bullish in 3.5 years, with stock allocations at multi-year highs.
- That positioning is a key market headwind despite a broadly positive economic backdrop.
AI Positioning Is Maturing
- The AI trade's positioning feels mature, leaving fewer new buyers for that thematic.
- Investors should favor quality over momentum into 2026 because valuations are stretched.
Jobs, Yields And Market Tension
- Unemployment rising to 4.6% clashes with falling yields that price in Fed cuts, creating market tension.
- Broadening market leadership and lower rates underpin cautious optimism for 2026.