Closing Bell Closing Bell: The AI Unwind 11/6/25
Nov 6, 2025
Oliver Chen, a senior retail analyst at TD Cowen, dissects retail trends, highlighting ELF's unexpected price disruptions and Tapestry's appeal to Gen Z shoppers. Steve Leisman, a senior economics reporter, shares insights on the Fed's cautious stance following recent labor data, emphasizing the implications of the Challenger layoffs. The conversation dives into whether the current AI unwind signals a larger market shift and how consumer behaviors during the holiday season will be shaped by these trends.
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Episode notes
AI Demand Matches Rising CapEx
- Anastasia Amarosa argues we're not in an AI bubble because demand and cloud revenue are rising alongside CapEx.
- Hyperscalers' cloud revenue growth and private AI firm revenue acceleration provide monetization proof points.
Next Phase Hinges On Broader Enterprise Spend
- Shannon Saccocia says the next phase of AI depends on traditional industries adopting AI and broadening spend.
- Market positioning now reflects seeking where AI monetization will expand into financials, industrials and healthcare.
Treat Modest Pullbacks As Healthy Resets
- Meghan Hsu says a modest 5–10% pullback would be healthy and not a time to overreact.
- She advises against short-term positioning and views a pause as a chance to reset into the next leg.