Closing Bell Closing Bell: 11/24/25
Nov 24, 2025
Abby Goodenough from JPMorgan discusses market positioning and the potential for a year-end rally, particularly scrutinizing AI-related revenues. Jon Fortt provides insight into tech leadership and the impact of easing financial conditions on cyclicals. Mike Santoli highlights the importance of market breadth and volatility, especially regarding Nasdaq performance. The panel also considers the implications of Amazon's $15 billion AI data center expansion and Oracle's rising debt concerns, while exploring strategic portfolio management amidst shifting market dynamics.
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Episode notes
AI Leadership Requires Revenue Scrutiny
- The AI trade remains fundamentally supported but will face more discerning revenue scrutiny.
- Investors must ask where revenues come from and how concentrated or backward-loaded they are.
Demand Signals From AI Supply Chain Hold Up
- Despite some volatility, NVIDIA and other AI suppliers continue to report unchanged demand.
- That consistency supports the narrative that AI spending remains a durable market driver.
Labor Market Drives Fed Cut Odds
- Fed officials like Mary Daly signal a tilt toward cutting if the labor market weakens.
- The Fed may favor addressing job-market deterioration over slightly sticky inflation.