Halftime Report: How to Play New Highs (August 13, 2025)
Released on August 13, 2025
Introduction
In the August 13, 2025 episode of CNBC's "Halftime Report," host Scott Wapner engages with a panel of seasoned investors, including Josh Brown, Joe Terranova, Carrie Firestone, Surat SETI, and Rick Reeder. The discussion centers around the current bullish trend in the stock market, examining whether this environment represents one of the best investing climates in recent memory. The panel delves into various sectors, market mechanics, and strategic investment opportunities, providing listeners with comprehensive insights into navigating the soaring markets.
Market Overview
Scott Wapner opens the discussion by highlighting the unprecedented run of stock prices, questioning if this bull market is one of the most favorable investment periods experienced. Josh Brown underscores the optimism in the market, referencing BlackRock's Rick Reeder's assertion that the current investing environment is the best ever (01:43).
Notable Quote:
"BlackRock's Rick Reeder came on closing bell yesterday and told me the overall investing environment is the best ever." — Josh Brown (01:43)
Investment Environment
The panel examines the factors contributing to the bullish market. Joe Terranova points out the extraordinary demand-supply dynamics, emphasizing the significant cash on the sidelines and robust buyback activities relative to IPO offerings (01:44).
Key Points:
- Technicals and Equities: High levels of buybacks and limited IPO supply create a favorable environment for stock prices.
- Income and Fixed Income: Attractive yield levels in fixed income products are compelling investors to allocate funds to stocks.
Notable Quote:
"You can create a portfolio with six and a half to seven percent yield." — Joe Terranova (02:08)
Sector Analysis
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Small Caps:
- Performance: The Russell 2000 has outpaced the S&P 500, reflecting strong performance in small-cap stocks.
- Opportunities: Investors are encouraged to explore beyond the large-cap "Mag Seven" to diversify their portfolios.
Notable Quote:
"Small caps are now slightly outperforming the S&P 500." — Carrie Firestone (05:59)
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Biotechnology:
- Growth: Biotech stocks are experiencing significant gains, with the Biotechnology Sector (XPI) up 2.7% and leading companies up 4-5%.
- Sustainability: The sector's growth is driven by advancements and renewed investor interest in speculative areas.
Notable Quote:
"Biotechs are up today... this is like one of the most left behind areas of the market." — Carrie Firestone (05:03)
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Homebuilders:
- Current Trends: Homebuilder stocks have surged, with a notable 6-6.5% increase over recent days.
- Future Prospects: Continued advancements in the housing market are expected to sustain this upward trend.
Notable Quote:
"Homebuilders are up six, six and a half percent over the last two days." — Carrie Firestone (05:03)
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Retail Stocks:
- Performance Variability: While traditional retailers like Chili's show strong performance, others like Cava face challenges due to changing consumer behaviors.
- Market Dynamics: Expansion in delivery services and suburban locations are key factors influencing retail stock movements.
Notable Quote:
"Chili's killing it because Chili's is in the suburbs... Tough to be those companies [like Cava]." — Carrie Firestone (34:51)
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Semiconductor Industry:
- Key Players: KLA Corp. and Lam Research are highlighted for their critical roles in the semiconductor supply chain.
- Growth Factors: Increased domestic manufacturing and strategic investments underpin the sector's robust performance.
Notable Quote:
"These are companies that do things that wouldn't occur to the average investor who's not paying that close attention..." — Carrie Firestone (39:02)
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Technology Giants (Apple, Meta, etc.):
- Market Leadership: Apple continues to show resilience with stock prices reaching new highs, despite market skepticism.
- Innovations and Acquisitions: Strategic acquisitions and advancements in AI technology are pivotal for maintaining competitive advantage.
Notable Quote:
"It's still the best product... until I start seeing people with Samsung... But I do think that you can't rule them out." — Jim Cramer (27:50)
IPO Market
The episode emphasizes a vibrant IPO market, with expectations of it being one of the strongest years in recent times. Experts suggest that capital market activities are robust, with significant demand fueling the success of new listings.
Notable Quote:
"I believe this is going to be... the strongest year for IPOs in like, a couple of years." — Josh Brown (09:46)
Fixed Income and Yield
Joe Terranova discusses the attractive yields available in the fixed income market, suggesting that even with potential Fed rate cuts, yield levels remain compelling for investors seeking income.
Key Points:
- Yield Opportunities: Fixed income products offer yields ranging from 6.5% to 7%.
- Federal Reserve Policies: Prospects of rate cuts could further enhance the attractiveness of these investments.
Notable Quote:
"You're getting yield levels... you can create portfolio six and a half, seven percent yield." — Joe Terranova (02:08)
Expert Insights and Notable Quotes
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Rick Reeder (BlackRock):
- Outlook: Reeder maintains a positive outlook, citing a healthy marketplace with diverse investment opportunities beyond traditional large caps.
Notable Quote:
"He's absolutely correct... a day in which momentum... it's one of the best environments for investing he could remember." — Joe Terranova (02:35)
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Carrie Firestone:
- Biotech and Homebuilders: Highlights the resurgence in biotech and homebuilder sectors as indicators of a broad-based market recovery.
Notable Quote:
"All developed nations are rallying and I think that's really important if you're going to stay bullish from today forward." — Carrie Firestone (05:03)
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Jim Cramer:
- Apple's Resilience: Discusses Apple's strong product ecosystem and strategic maneuvers that bolster its market position amidst competitive pressures.
Notable Quote:
"It's the employee, it's the employment rate that's affecting Salesforce... effectively a call option on the growth in employment in the country." — Carrie Firestone (25:21)
Conclusion
The panel concludes on an optimistic note, reinforcing the idea that the current market environment offers numerous opportunities across various sectors. With strong fundamentals, technical indicators, and strategic investment moves, investors are encouraged to consider diverse asset classes and remain vigilant of evolving market dynamics. The episode serves as a comprehensive guide for navigating and capitalizing on the ongoing bullish trends in the stock market.
Closing Remarks:
"You've been listening to CNBC's Halftime Report, the podcast. You can always catch us live weekdays at 12 Eastern only on CNBC." — Scott Wapner (46:22)
Disclaimer
All opinions expressed by the Halftime Report participants are solely their opinions and do not reflect the opinions of CNBC, NBCUniversal, their parent company or affiliates. Listeners are advised not to treat any opinion expressed on this podcast as a specific inducement to make a particular investment or follow a particular strategy.