'I think you can get to 10,000 in the next 18 months' says Joe Terranova about the S&P 500

Summary

The panel debates a strong S&P 500 rally, with Joe Terranova arguing the index can hit 10,000 within 18 months and others agreeing earnings and AI support further upside through year-end. They also discuss tactical sector leadership in memory, optical, refiners, financials and semiconductors over software, while monitoring rising long-term Treasury yields and curve steepening. The main risk debate centers on AI capex, consumer/oil and 2027 valuation expectations.

• Joe Terranova sees S&P 500 reaching 10,000 in the next 18 months on historic earnings and bullish momentum.
• Joe says memory, optical, refiners and financials are areas being maintained or rebuilt.
• Steve Weiss is bullish with AI driving earnings while oil/consumer and rates are potential risks.
• Shannon Saccocia favors semiconductors and hardware over software near term as compute becomes an asset class.
• Jim Lebenthal defends current S&P valuation and sees gains through year-end but a higher bar in 2027.
• Shannon argues curve steepening gives investors room to add duration and lock in yields.
• Scott Wapner raises 30-year Treasury yield strength driven by issuance and deficit concerns.