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Closing Bell Overtime: Markets Pause as AI Leaders Cool and Big Tech Faces Its Next Test 7/10/26

Closing Bell

Time for the Closing Bell. Mike Santoli and Ned Davis Research. Ed Klisold here to break down these crucial moments of the trading day. Oliver Renick standing by live at the CBOE Global Markets in Chicago today. And Tanea McKeel looking at the huge move today in shares in Circle. Michael, begin with you. Give me your thoughts, please.

Yeah, I mean, just on a one day basis, clearly it's this low volume levitation, the kind of thing that makes it very difficult to fight an upward trend on a Friday in July when the macro is quiet, which is what we have right here. You know, Monday is basically two months since we started digesting and going sideways in the S&P 500. Over that period of time, I've been flagging some of the potential kind of dangerous rhythms out there. Right.

It was like if there's going to be a stampede out of semis, are they going to trample other sectors? Is it going to cause some kind of a volatility spike? But it hasn't happened. So you have to give credit to we got through this, at least to this point, the easy way. And maybe the bears missed a little bit of a window. I don't think we've taken care of some things like high equity exposures and the possibility that we're kind of setting the groundwork for some kind of a dislocation down the road with very low correlations and all the rest.

But right now you have to respect the market's action going into earnings season, yields remaining tame, oil still tethered. So you've got to got to reach for something to look at, to worry about with valuations having actually come in a little bit.

Closing Bell Overtime: Markets Pause as AI Leaders Cool and Big Tech Faces Its Next Test 7/10/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Closing Bell Overtime: Markets Pause as AI Leaders Cool and Big Tech Faces Its Next Test 7/10/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.