Schwab Network

Jed Ellerbroek sees a mixed picture for big bank earnings that kicked off the final earnings season of 2026. However, he warns of investors becoming more uncomfortable with Big Tech firms using their ROI and reinvesting it into CapEx. For this earnings season, Jed makes the case hyperscalers like Alphabet (GOOGL), Microsoft (MSFT), Meta Platforms (META), and Amazon (AMZN) need to demonstrate the data center story is working. Also mind caution in single stock volatility even if these companies post phenomenal results.

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BGV’s Anik Bose breaks down the economics behind the AI spending boom and says enterprises ultimately need tangible ROI through higher revenue, greater profitability or lower costs. He points to Amazon (AMZN) and JPMorgan Chase (JPM) as examples of companies seeing potential benefits from AI, while much of corporate America remains in the experimentation phase. He warns that if enterprise demand fails to materialize, AI model companies could feel the pressure first, followed by chipmakers and hyperscalers.

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Dr. David Stubbs of AlphaCore Wealth Advisory says the core AI trade remains intact despite pressure on semiconductors and memory stocks. He believes GPU makers, hyperscalers and major companies adopting AI can continue to benefit from the buildout. Dr. Stubbs expects earnings to separate the winners from the broader AI pack and sees potential for M&A and consolidation across the space.

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Charles Schwab's Patrick Ciummo breaks down a bearish S&P 500 (SPX) setup after its pullback from recent highs. He also charts Reddit (RDDT) ahead of earnings and Alphabet (GOOGL), highlighting key technical levels and volatility to watch.

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David Wagner of Aptus Capital Advisors explains why traditional bonds may not provide enough protection in volatile markets. He breaks down the Aptus Defined Risk ETF (DRSK) and Aptus Collared Investment Opportunity ETF (ACIO), including how the funds use options to pursue growth and downside protection.

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Apple (AAPL) says preorders for iPhone Duo sold out within minutes, something that gives Olivier Blanchard confidence that there's "no reluctance" in people buying Apple products despite the steep price tag. While he expects to see softness in iPhone 18 sales, he doesn't see it as an overhang for earnings. Apple's agentic AI capabilities through Siri updates is what Olivier sees leading the Mag 7 giant's growth as it expands hardware capabilities.

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Danielle Shay says a lot of the AI downside moves have been "greatly exaggerated" in 2026. The culprit? Danielle blames earnings and the sky-high expectations. As a technical trader, she discusses key support and resistance metrics she watches in determining next steps for trading AI stocks. In specific equities, Danielle talks about the "topping" action Broadcom (AVGO) sees after earnings, and notes AMD Inc. (AMD) as a stock to watch as it sits on historic support. She adds that Nvidia (NVDA) is entering its own "earnings hot zone" and anticipates an eventual comeback for Tesla (TSLA).

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Hayley Berg explains why Thanksgiving airfare is up 31% and Christmas fares are up 23%, driven largely by higher jet fuel costs. She shares ways travelers can save and explains how AI is increasingly being used to find deals and stretch travel budgets.

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As Nvidia (NVDA) launches a new laptop that competes with Intel (INTC), LikeFolio's Megan Brantley still sees bullish consumer demand for the legacy tech company. Her firm's data shows a strong uptick in consumer sentiment that largely correlates with Intel's stock price. Megan notes one bearish point in sentiment with growing concerns on AI debt financing, though more foundry deals for Intel are something she sees pushing those concerns away.

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There are no signs of relief for Americans at the gas pump, says GasBuddy's Patrick De Haan. He turns to the numerous global disruptions to the energy trade keeping crude oil and diesel prices elevated. $7 diesel a gallon is something Patrick believes is possible short- to mid-term. Mizuho Americas' Robert Yawger adds more insight to the geopolitical tensions and how they keep the Trump administration pinned on its inflation fight. He sees refiners facing great pressure once the winter months hit.

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