Trading stocks as they approach new highs

Watch on YouTube ↗  |  April 15, 2026 at 19:12  |  8:51  |  CNBC
Speakers
Joe Terranova — Senior Managing Director, Virtus Investment Partners
Carrie Firestone — Investment Committee Member
Steve Weiss — Chief Investment Officer, Short Hills Capital Partners

Summary

The Investment Committee debates how to trade the market as it approaches new all-time highs. The consensus is that growth and technology stocks will lead the next leg higher, driven by strong earnings, attractive valuations, and insulation from geopolitical risks. Each panelist provides slightly different reasoning but agrees on the overarching theme of tech leadership.

  • Market is nearing all-time highs, with focus on whether it will break out.
  • Growth and technology sectors are seen as the key leadership for further gains.
  • Big tech earnings are expected to be strong, supported by digital consumption and insulation from supply shocks.
  • Valuations for tech have become more attractive relative to earnings growth.
  • Geopolitical events like the war have disrupted previous market trends but may benefit tech.
  • Panelists are positioned in tech and growth, citing historical market resilience and behavioral trends.
  • Risks include sticky inflation and higher interest rates, but fundamentals remain intact.
  • The discussion highlights a shift away from the broadening trade back to mega-cap tech dominance.
Trade Ideas
Joe Terranova Senior Managing Director, Virtus Investment Partners 1:00
Growth leadership will drive market to new highs.
Big tech names like Amazon, Meta, and Google are expected to report strong earnings because they are insulated from geopolitical supply shocks and rely on digital consumer activity. They represent over 35% of the market, so their movement will drive the overall market. Additionally, growth stocks have more attractive valuation multiples relative to industrials given their higher growth rates.
XLK MED
Joe Terranova Senior Managing Director, Virtus Investment Partners 1:00
Growth leadership will drive market to new highs.
The market will break out to new highs and establish a higher range if growth continues to lead the charge, as evidenced by technology and software stocks like Apple, Tesla, and Microsoft leading the market higher today.
AAPL TSLA MSFT MED
Joe Terranova Senior Managing Director, Virtus Investment Partners 1:00
Growth leadership will drive market to new highs.
He is positioned in tech and growth because he believes the next leg of the rally will be driven by these sectors. The new cohort of investors who buy on dips has been correct historically, as markets tend to go up over time. While the ease of making money in the market is troubling, froth is not yet a concern.
IWF MED
Carrie Firestone Investment Committee Member 3:03
Big tech earnings will drive market higher.
Big tech names like Amazon, Meta, and Google are expected to report strong earnings because they are insulated from geopolitical supply shocks and rely on digital consumer activity. They represent over 35% of the market, so their movement will drive the overall market. Additionally, growth stocks have more attractive valuation multiples relative to industrials given their higher growth rates.
AMZN META GOOG HIGH
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This CNBC video, published April 15, 2026, features Joe Terranova, Carrie Firestone discussing XLK, AAPL, TSLA, MSFT, IWF, AMZN, META, GOOG. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Joe Terranova, Carrie Firestone  · Tickers: XLK, AAPL, TSLA, MSFT, IWF, AMZN, META, GOOG