Closing Bell Closing Bell: Playing Today’s Rally 3/23/26
5 snips
Mar 23, 2026 
Jeffrey Gundlach, founder and CIO of DoubleLine Capital, shares macro and fixed-income views on volatility, gold, commodities, and credit. Eamon Javers, Washington reporter, provides on-the-ground U.S.-Iran and policy updates. They discuss market reactions to Iran talks, sector repricing, software and AI rebounds, and risks in private credit and Fed messaging.
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Positioning and Short Covering Amplify Rally
- Traders saw a reflexive squeeze and short-covering bid that could boost April if geopolitical tensions ease, according to Citadel Securities and market commentators.
- Leslie Picker highlighted energy names mixed while airlines and travel stocks rallied more than 3% as positioning pressures unwind.
Ease Into Quality Growth Stocks Slowly
- Tom Lee advises slow, selective easing into equities for a six- to twelve-month horizon, favoring quality growth while acknowledging geopolitical unpredictability.
- He suggests rotating out of earlier risk aversion and finding growth opportunities rather than aggressively buying cyclicals now.
Markets Can Bottom Before War Ends And AI Drives Earnings
- Panelists argued markets often bottom before positive geopolitical news and that leadership may broaden to Mag7, software, and crypto as investors favor growth amid growth worries.
- They noted earnings growth expectations (double-digit) and AI as the primary driver for U.S. earnings into the recovery narrative.