Stocks rose on Thursday, supported by a jump in semiconductors and a fall in oil prices, as equity markets tried to recover despite renewed U.S.-Iran tensions. Kelly Evans and Brian Sullivan are joined on-set by Carson Group’s Ryan Detrick who provides his mid-year market report card and outlook for the rest of 2026. Meanwhile, Baker Hughes’ CEO, Lorenzo Simonelli, joined the show after his company announced it received three contracts for the Sabine Pass LNG facility in Cameron Parish, Louisiana. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Big Tech Bounces Back, Baker Hughes CEO, & Powering the AI Revolution 7/9/26

Power Lunch

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Stocks are higher again as we head toward a possible weekly gain. Welcome to Power Lunch. Kelly is back. I am Brian and Big Tech is back in a big way. All the trader favorites, they're higher right now. Semiconductors, even some software stocks are higher. Plus, crude is lower today, but some other news in the energy space with LNG. And Baker Hughes CEO Lorenzi Simonelli is here to tell you more about their big power deals, plural.

Big deal to have him. Plus the AI revolution and how we power it and the infrastructure required. The names that should be on your watch list, we'll talk about that with Stephen Byrd, Morgan Stanley's Global Head of Thematic and Sustainability Research. He will also be here. But we start with the markets, which are rallying as chip makers rise. The Nasdaq's up 1.2 today and oil prices fall. And maybe for that reason, the Russell's up 1.3. Your next guest says the late June swoon was not enough to derail his optimism in equities.

And he just unveiled his year-end price target. First, I thought it said 15 to 18 percent higher versus his 12 to 15 percent previous estimate. Ryan Dietrich is chief market strategist at the Carson Group and a CNBC contributor. So let's translate this into round numbers. What was your previous S&P target, if we call it that? Exactly. The start of the year, we said a full-year gain between 12 and 15 percent.

Big Tech Bounces Back, Baker Hughes CEO, & Powering the AI Revolution 7/9/26

Read the full transcript

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

Big Tech Bounces Back, Baker Hughes CEO, & Powering the AI Revolution 7/9/26

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.