Halftime Report: The Fed, the Markets, and Your Money – June 24, 2025
Hosted by CNBC’s Scott Wapner
Introduction
In the June 24, 2025 episode of Halftime Report, CNBC’s Scott Wapner engages with top financial experts to dissect the current economic climate, focusing on the Federal Reserve's policies, market dynamics, and investment strategies. The discussion provides insightful analysis on how tariffs are influencing Fed decisions, the resilience of the stock market, and highlights key sectors and stocks poised for growth.
1. Federal Reserve’s Current Stance on Interest Rates
Scott Wapner opens the discussion by addressing the Federal Reserve's (Fed) cautious approach to cutting interest rates. The primary reason for this restraint is the need to evaluate the economic impact of ongoing tariffs.
- Steve Liesman, Senior Economics Reporter, elaborates: “Chair Powell pretty explicitly said that if not for the tariffs and the uncertainty created by them, the Fed would already be cutting” (01:47).
This sentiment underscores the Fed's intent to stabilize the economy before making further adjustments to interest rates.
Notable Quote:
"If it wasn't for the tariffs, the Fed would already be cutting." – Steve Liesman (01:47)
2. Economic Indicators and Upcoming Reports
The team discusses key economic indicators and upcoming reports that will influence the Fed's decisions:
- July 6: Jobs report
- July 11: Inflation data
- July 9: President’s decision on reciprocal tariffs
- July 30: Fed meeting
Steve Liesman emphasizes the importance of these dates in shaping future monetary policies and market reactions.
3. Market Overview and Performance
Scott Wapner highlights the stock market’s robust performance, nearing new all-time highs, buoyed by positive news such as a ceasefire in the Middle East.
- The S&P 500 is just 1% away from a new all-time high (03:06).
- Joe Terranova notes, “78% of tech stocks are above the 50-day moving average” (07:14).
Notable Quote:
"The market continues to drive higher. I use the word resiliency." – Josh Brown (04:46)
4. Sector Highlights: Technology and Financials Leading the Charge
The episode delves into the sectors driving market gains, primarily technology, consumer discretionary, and financials.
- Josh Brown remarks on the resilience of the tech sector: “I think the trajectory points towards we will achieve new all-time highs relatively soon” (04:46).
- Stephanie Link discusses consumer strength: “The consumer continues to do well because they have jobs, they have better wages, inflation is coming down” (05:29).
Notable Quote:
"This is one of the most resilient markets that I have ever witnessed." – Josh Brown (05:29)
5. Spotlight on Notable Stocks
Several stocks are highlighted for their strong performance and potential growth:
-
Uber (UBER):
- Recently surged by 7.5% due to expansions in autonomous vehicle services.
- Joe Terranova states, “This is my largest position personally. I've been saying it's my highest conviction” (13:45).
-
Toast (TOST):
- Up 22% year-to-date, lauded for its dominance in the restaurant payment sector.
- Joe Terranova compares its growth trajectory to early Salesforce.
-
Broadcom (AVGO):
- Achieving record highs with strong earnings and revenue growth.
- Stephanie Link comments on Broadcom’s impressive margins and cash flow (12:31).
Notable Quotes:
"It's the most profitable bull market to what the average does to what the index does." – Josh Brown on tech sector (07:34)
"They've got pricing power, free cash flow." – Stephanie Link on Broadcom (12:31)
6. Best Stocks in the Market
The panel introduces new additions to their best stocks list, emphasizing their strong performance and potential:
- Amphenol (APH): Reached an all-time high, praised for double-digit revenue growth.
- Snowflake (SNOW): Upgraded to overweight by Morgan Stanley, thanks to new CEO and product innovations.
- Electronic Arts (EA): Upgraded to buy from neutral with expectations of double-digit EPS growth.
Notable Quote:
"The setup here is very simple. A break below 100 bucks tells you the momentum is gone." – Joe Terranova on Disney (28:06)
7. Economic and Geopolitical Factors
The discussion also touches upon broader economic and geopolitical factors affecting the markets:
- Kerry Firestone highlights the role of technology and AI in driving market growth.
- Silvana provides brief news updates, including the postponement of Senate and House briefings on Iran strikes, legal rulings on AI training models, and the formation of the first Atlantic tropical storm.
8. Final Market Insights
In the concluding segment, the panel reflects on the market's near all-time high status and future outlook:
- Mike Santoli, Senior Markets Commentator, discusses market dynamics and the potential need for a "scare and relief cycle" to propel the market to new heights.
- Josh Brown emphasizes that despite some speculative activities, the leading stocks remain fundamentally strong and profitable.
Notable Quote:
"The market has self-corrected itself. The issues at hand, whether it's SPACs or other factors, don't derail the overall trend." – Mike Santoli (31:21)
Conclusion
The June 24, 2025 episode of Halftime Report provides a comprehensive analysis of the Federal Reserve’s cautious approach amidst tariff-induced uncertainties, the remarkable resilience of the stock market, and the sectors and stocks that are leading the charge towards new all-time highs. With insightful commentary from seasoned financial experts, listeners gain a clear understanding of the current economic landscape and informed perspectives on future market movements.
Notable Quotes with Timestamps
-
Steve Liesman:
"If it wasn't for the tariffs, the Fed would already be cutting." (01:47)
-
Josh Brown:
"This is one of the most resilient markets that I have ever witnessed." (05:29)
-
Stephanie Link:
"The consumer continues to do well because they have jobs, they have better wages, inflation is coming down." (05:29)
-
Joe Terranova:
"This is my largest position personally. I've been saying it's my highest conviction." (13:45)
-
Mike Santoli:
"The market has self-corrected itself. The issues at hand, whether it's SPACs or other factors, don't derail the overall trend." (31:21)
Timestamp Guide:
- [01:47] – Steve Liesman on Fed cutting rates
- [04:46] – Josh Brown on achieving new all-time highs
- [05:29] – Stephanie Link on consumer strength
- [07:34] – Josh Brown on market resiliency
- [12:31] – Stephanie Link on Broadcom’s performance
- [13:45] – Joe Terranova on Uber’s conviction
- [28:06] – Joe Terranova on Disney
- [31:21] – Mike Santoli on market dynamics
Disclaimer: The opinions and analyses presented are those of the podcast participants and do not reflect the official views of CNBC or its affiliates.