Halftime Report Earnings and the War Guide the Market 4/13/26
7 snips
Apr 13, 2026 
Joe Terranova, market commentator who focuses on trading, technicals and positioning, and Stephanie Link, senior portfolio manager known for macro and equity calls, discuss how earnings and the Iran war are shaping markets. They cover technical support, flows, software stock levels, AI infrastructure impacts, banks and exchanges, and top trade ideas in this environment.
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Digging Under Headlines Reveals Healthier Market Mechanics
- Jim Lebenthal highlights energy-market workarounds and tightening high-yield spreads as signs the macro engine is healthier than headlines imply.
- He cites Omani crude spikes and high-yield spread moves from 342 to 284 basis points as tangible data.
Buy Large AI CapEx Names Into Earnings
- Buy the AI-capex-impacted large tech names into earnings because multiples compressed and earnings power remains.
- Bryn Talkington and others argue Microsoft, Meta, Google and Amazon could outperform as CapEx concerns ease.
Valuation Reset Turned Growth Into Value
- Growth has partly become value after valuation compression; some tech names now trade at pre-AI boom multiples.
- Torsten Slockett notes the sector multiple fell from ~40x to ~20x, making several tech stocks more attractive.