Why the Consumer's Breaking Point Could Punish High-Flying Tech

Adam Coons says the Fed is unlikely to raise rates again despite consensus, as the consumer nears a breaking point with mortgages above 7%. He warns that tech names with stretched valuations and refinance risk, like Oracle (ORCL), could get punished this earnings cycle. He also likes Japanese financials and Southeast Asian semiconductors for diversification and prefers higher-dividend energy names for defense.

Opening Bell With Nicole Petallides

30 Sep 2026

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