Closing Bell Closing Bell: What Can Turn Around Tech? 2/26/26
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Feb 26, 2026 Dubravko Lakos, JPMorgan’s Head of Global Markets Strategy, offers market strategy and macro views in a concise conversation. He tackles why NASDAQ fell despite NVIDIA strength. He highlights where to find low-volatility and 'halo' stocks, maps rotations between growth and value, and flags private credit and software risks to watch.
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Step Into Select Software Winners Not the Whole Sector
- Start selectively stepping into higher quality software opportunities rather than broad exposure.
- Lakos recommends focusing on resilient subsegments like cyber and low-volatility names as entry points amid the software sell-off.
Halo Stocks Lose Immunity Through Implicit Correlation
- Implicit correlations are causing supposed safe 'halo' stocks to get hit.
- Lakos says low-volatility sectors like utilities and staples have been unloved and may offer attractive risk-reward as rotations age.
AI As A Productivity Shock Not Immediate Job Killer
- AI is creating a productivity (supply) shock that lowers marginal costs and can boost real incomes and business formation.
- Lakos frames AI disruption as an S-curve with regulatory and compliance plateaus, often complementing labor rather than fully replacing it.