Halftime Report Trading the Year’s Final Stretch 12/2/24
Dec 2, 2024
Joe Terranova and Jim Lebenthal, both esteemed members of the Investment Committee, dive into the final stretch of the trading year. They discuss the implications of Intel's CEO stepping down and the market's reaction to it. The conversation leads to a spirited debate on Tesla's stock future amid political influences and the tech sector's recovery potential. They also examine the effects of the Fed's monetary policy on market dynamics and explore how AI could shape trading strategies moving forward.
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Yields and Market Performance
- The 10-year Treasury yield started and ended at 4.20% over the past year.
- This stability, despite fluctuations, allowed a strong consumer, earnings growth, and a positive equity environment.
Market Trends and Influences
- The market is entering a strong seasonal period, suggesting a continued upward trend.
- High valuations and passive ETF flows are influencing market behavior.
December Rally Prediction
- Tom Lee predicts a December S&P 500 rally to 6,300 due to seasonality, declining interest rates, and cautious sentiment.
- Bryn Talkington agrees with most of Lee's points but notes a "YOLO" feeling in the market.