Stocks & Bonds Fall as Oil Jump Fuels Fed-Hike Bets | The Close 7/13/2026
Speakers
Gil Luria
— Technology Strategist at D.A. Davidson
Mike Mayo
— Head of US Large-Cap Bank Research, Wells Fargo
Romaine Bostick
— Anchor, Bloomberg
Alli McCartney
— Managing Director of Wealth Management, UBS Alignment Partners
Summary
U.S. stocks fell on Monday, led by tech and chips, as crude oil surged 9% on renewed Iran tensions, fueling fears of Fed rate hikes. The episode featured interviews with Russell Investments' CIO on AI and diversification, Chipotle's expansion into Mexico, Michaels' retail turnaround, and market outlooks from UBS and D.A. Davidson. Key investment calls included bullish views on memory chips and large/regional banks.
- S&P 500 drops 0.8%, Nasdaq 100 down 1.8% as tech selloff continues.
- Brent crude jumps above $80/bbl on U.S. reinstating blockade on Iranian ships.
- Two-year Treasury yield hits highest since early 2025 on hawkish Fed comments.
- Russell Investments CIO emphasizes diversification, flexibility amid structural changes.
- Chipotle and Michaels CEOs discuss international expansion and retail turnaround.
- D.A. Davidson tech analyst favors memory chips (Micron, SK Hynix) on valuation.
- Wells Fargo bank analyst highlights Citi transformation and regional bank loan growth.
- Upcoming catalysts: CPI, Fed Chair testimony, big bank earnings.
Ideas
Memory stocks cheap, less cyclical.
Memory stocks like Micron and SK Hynix are undervalued because they have locked in five-year supply contracts that reduce cyclical downside, yet trade at 8x earnings versus SOX at 40x, while AI demand continues.
Large banks lead on trading strength.
Largest US banks poised for record revenues this year from fixed-income and equity trading, IPOs and mergers, with Goldman Sachs and Morgan Stanley being the standouts of the quarter.
Citi top pick, cultural transformation.
Citigroup is top pick, undergoing a multi-decade cultural transformation under CEO Jane Fraser, moving from global matrix to five clear business lines with direct accountability, now on the right trajectory.
