Closing Bell Closing Bell: What’s Next after this Record Run? 2/12/26
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Feb 12, 2026 Richard Saperstein, founding principal and CIO at Hightower Treasury Partners, outlines his ideal portfolio today in light of recent market churn. He discusses trimming munis, boosting select stocks, opportunities from tech dislocations, the long-term case for hyperscalers, sector rotation dynamics, and where durable software and AI-related bets fit in a shifting market.
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Housing Shock And Bond Auction Lower Yields
- A sharp drop in yields followed a weak existing-home sales print and a strong 30-year auction, creating a flight-to-safety move.
- The market nudged up the probability of Fed cuts but broad data still supports June as the likely first cut.
Transport Sector Faces AI-Driven Competitive Fears
- Transports suffered one of their worst days since last April with trucking and brokerage stocks hit hardest.
- Some sellers blamed an AI-driven platform that could let smaller players scale without adding headcount, intensifying fears for incumbents.
Sentiment Outpacing Fundamentals In Tech
- Tech selling is being called whimsical and flippant by some analysts despite strong fundamentals like Apple's revenue growth.
- Investors are rapidly re-pricing software and AI exposure regardless of recent earnings beats.