The market rally's road ahead: How to position near record highs

Watch on YouTube ↗  |  June 16, 2026 at 18:26  |  10:54  |  CNBC
Speakers
Joe Terranova — Senior Managing Director, Virtus Investment Partners
Shannon Saccocia — Investment Committee Member
Jenny Harrington — CEO, Gilman Hill Asset Management
Frank — Anchor, Halftime Report

Summary

The Investment Committee debates positioning near record highs. Joe Terranova advocates for a momentum strategy across sectors as capital rotates out of energy and defensives. Shannon Saccocia sees the successful SpaceX IPO digestion and lower rates reviving the broadening trade. Jenny Harrington discusses managing winners like Teradyne with AI exposure. Overall bullish on momentum and broadening, with caution on narrow tech leadership.

  • S&P equal weight hits new all-time high, signaling market broadening
  • Joe Terranova recommends playing momentum via the JOE T ETF (JOET), highlighting non-tech 52-week highs
  • SpaceX IPO is successfully digested, clearing the way for more IPOs and M&A
  • Shannon Saccocia believes lower rates and softer CPI will revitalize the broadening trade
  • Jenny Harrington continues to hold Teradyne (TER) on AI prospects despite rich valuation
  • The panel sees momentum spreading across sectors, not just in tech
  • Capital is rotating away from energy and defensive positioning as yields decline
Ideas
Joe Terranova Senior Managing Director, Virtus Investment Partners 0:25
Buy momentum across sectors
Momentum is the right strategy now as capital is rotating out of energy and defensive positions, flowing into a wide variety of areas with 52-week highs. The S&P equal weight is at a record, and momentum can be found in both AI/semiconductors and non-tech names like Caterpillar, Edwards Lifesciences, Monster Beverage, and Williams-Sonoma. The JOE T ETF (JOET) holds these names and benefits from this broadening momentum trade.
JOET HIGH
Shannon Saccocia Investment Committee Member 3:19
Broadening trade revives on lower rates
The market has successfully digested the large SpaceX IPO without broader damage, clearing the way for more IPO and M&A activity. The rate environment is the key driver, with softer CPI and easing yield pressure removing the energy price overhang, allowing the broadening trade to re-emerge, similar to early 2023.
RSP MED
Jenny Harrington CEO, Gilman Hill Asset Management 7:53
Hold Teradyne for AI prospects
Teradyne (TER) is a long-term holding in the growth strategy, up 124% this year due to AI prospects. Despite a compressed free cash flow yield to 1.6%, the stock still has amazing AI-related prospects, and the firm continues to hold it, adding for new portfolios while managing position size.
TER MED
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This CNBC video, published June 16, 2026, features Joe Terranova, Shannon Saccocia, Jenny Harrington discussing JOET, RSP, TER. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Joe Terranova, Shannon Saccocia, Jenny Harrington  · Tickers: JOET, RSP, TER