Squawk on the Street Squawk on the Street 2ND Hour 1/26/26
12 snips
Jan 26, 2026 Steve Sosnick, Chief Strategist at Interactive Brokers, offers market strategy commentary and analysis. He discusses yen moves and possible U.S.-Japan coordination. He highlights mega-cap versus cyclicals, retail dip-buying and silver mania. He also covers flows into emerging markets and M&A tailwinds amid strong earnings and AI-driven investment.
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Bitcoin Acts Like A Risk Asset
- Bitcoin currently behaves more like a risk asset than a currency hedge and is not benefiting from the gold rally.
- Many retail investors have rotated from Bitcoin ETFs into precious metals and related ETFs this year.
Focus On Guidance Not Just Beats
- Don't rely solely on beat-or-miss earnings; focus on forward guidance and outlook.
- Retail traders are buying dips in mega-cap names, so evaluate guidance before following momentum.
Cyclicals Could Outperform Tech
- Pro-cyclical and industrial stocks may outperform mega-cap tech as expectations for the latter are very high.
- Strong macro prints and durable goods data are supporting value and cyclical rotation.