Full Signal

Kai Wu, founder and CIO of Sparkline Capital, dives deep into the shifting landscape of tech investing. He discusses how the Magnificent Seven are transitioning from asset-light to asset-heavy models, highlighting risks tied to AI's capital expenditure boom. Wu debates the impact of rising competition on tech oligopolies, emphasizing consumer benefits against producer pitfalls. He also draws parallels with historical infrastructure booms and shares insights on measuring true AI commitments, while remaining optimistic about AI's transformative potential.

Steve Hou, a quantitative researcher at Bloomberg with a PhD in financial economics, dives into the transformative effects of AI on the economy. He discusses the K-shaped divergence in labor markets, emphasizing how AI boosts returns for knowledge workers while posing challenges for young professionals. Steve also shares insights on developing a new stock index aimed at capturing companies in fundamental inflection points, highlighting a unique strategy to navigate the evolving financial landscape and the implications for investors.

Nancy Tengler, CEO and CIO of Laffer Tengler Investments, brings four decades of Wall Street experience and top-tier portfolio management to the discussion. She shares her six high-conviction stock picks for 2026, highlighting the evolving tech landscape and AI's role in earnings growth. Tengler compares today's market to the dot-com bubble, warns about governance issues within OpenAI, and emphasizes Walmart as a tech-forward retailer. She also discusses AMD, DR Horton, and why cybersecurity, particularly CrowdStrike, is crucial in the AI era.

In this discussion, Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, dives into the booming world of ETFs and the increasing dominance of Bitcoin in traditional finance. He highlights the staggering number of ETFs launched this year and the implications for investors. Eric explains how crypto ETFs are legitimizing the market and shares insights on Vanguard's game-changing approval of Bitcoin ETFs. He also debates the effectiveness of passive versus active investing in shaping market dynamics, offering a unique perspective on industry risks.

Stephanie Roth, Chief Economist at Wolfe Research and former JPMorgan economist, shares insights on AI's transformative impact on the labor market. She discusses the paradox of AI driving productivity while simultaneously causing youth unemployment. Roth argues that recent tech layoffs are more about attrition than mass automation. She emphasizes the importance of differentiating between economic and asset-price bubbles, and encourages investors to be cautious yet optimistic about AI's future role in business.

Jay Woods, chief market strategist at Freedom Capital Markets and a seasoned New York Stock Exchange veteran, shares insights on the AI trade and market dynamics. He highlights the importance of sector rotation and argues that diversification beyond tech is key for 2026, with financials, biotech, and transports as promising areas. Woods compares today’s market with the dot-com bubble, discussing macro risks from the Federal Reserve and inflation. His optimistic but cautious view suggests investors should stay alert to changing economic signals.

Eric Jackson is the founder of EMJ Capital and specializes in finding "100 bagger" stocks. He's spearheaded the retail investor-driven movement behind companies like OpenDoor and Carvana. He joined Phil Rosen to discuss where he's deploying capital in public markets today, his thesis for bitcoin hitting $50 million by 2041, the AI revolution, and the stocks he likes best right now.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/TIMESTAMPS: 0:00 - IntroDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Katie Stockton is the founder of Fairlead Strategies and the leading technical strategist on Wall Street. She joined Phil Rosen on Full Signal to discuss bearish near-term indicators, the AI trade and comparisons to the dot-com bubble, S&P 500 sector rotations, bitcoin’s correction, and what technical indicators say about stocks. Katie also manages the Fairlead Tactical Sector ETF (TACK), which has $275 million AUM.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/TIMESTAMPS: 0:00 - Intro0:25 - Bearish near-term signal3:20 - Technical indicators4:27 - Sector rotations5:77 - Opportunity in healthcare7:22 - Tech-heavy market9:15 - Dot-com comparisons11:43 - MACD Indicator16:50 - Seasonality trends19:00 - Nvidia and AI trade21:25 - Retail buying the dip23:00 - Bitcoin correction26:00 - Fairlead’s TACK ETF31:50 - Follow Katie#podcast #investing #markets #macro #stocks #bitcoin #fed

Dan Ives is the leading analyst in the world for technology stocks and he manages the IVES Wedbush AI Revolution ETF. He joined Phil Rosen to discuss the demand story driving AI, what Wall Street doesn't understand, visits to chip factories in Asia, specific stock picks he likes now, and why the bears are so wrong on tech.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/TIMESTAMPS: 0:00 - Intro0:25 - 1996 moment for AI1:34 - Chip factories in Asia3:15 - Warning to bears5:11 - Picking AI stocks7:16 - It's still early for AI9:25 - Palantir11:45 - Circular financing and risks14:48 - Dot-com parallels17:55 - Google 20:23 - Building views on stocks23:37 - Dan's highest conviction picks24:30 - Microsoft and OpenAI 27:18 - Eightco and Worldcoin#podcast #investing #markets #macro #stocks #bitcoin #fed

Douglas Boneparth, founder of Bone Fide Wealth and a leading financial advisor, discusses the fascinating interplay between AI and today’s market volatility. He argues that while tech stocks are experiencing a sell-off, the underlying AI productivity potential remains strong. Douglas shares insights from his Bitcoin mining days in 2013 and highlights how it has evolved into a risk-reward asset for investors. He also introduces his book, 'Money Together,' which explores effective financial communication for couples, offering practical advice for navigating money matters.