Closing Bell Closing Bell Overtime: Worries hit the AI trade, SpaceX IPO Buzz, and the 2026 Consumer & Fintech Outlook 12/12/25
Dec 12, 2025
Jose Rasco, Chief Investment Officer at HSBC Global Private Banking and Wealth Management, discusses the challenges hitting tech stocks and the bullish outlook for 2026. He emphasizes potential earnings acceleration and the strength of financials amid a multi-year AI revolution. The podcast also explores the growing speculation around a possible SpaceX IPO, with insights into its valuation and the implications for the space industry. Additionally, experts share top consumer picks and analyze the fintech landscape for upcoming opportunities.
AI Snips
Chapters
Transcript
Episode notes
AI Trade Repricing Sparks Broad Tech Pullback
- Broadcom's earnings exposed customer-concentration and AI backlog concerns that sparked broad tech profit taking.
- Oracle's struggles and data-center delays amplified sector-wide re-pricing risks, especially for GPU renters and memory names.
Oracle Credit Concerns Persist Despite Denials
- Oracle denied Bloomberg's delay report but its rising leases and CDS widened, leaving financing timelines uncertain.
- The market is watching when Oracle might need to return to debt markets and how that could pressure credit spreads.
AI Spend Competes With Sovereign Debt Demand
- Treasury supply and AI-related corporate issuance are competing for the same investor dollars, steepening the yield curve.
- Longer-term yields rose while twos and threes eased, widening 2-10 and 2-30 spreads to multiyear highs.