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Closing Bell

Can Tech Keep Carrying Stocks Higher? 6/28/23

Closing Bell

CNBC

Business, News

4.4139 Ratings

🗓️ 28 June 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

The future of the tech rally is front and center for investors – with Apple and Nvidia taking center stage. Big Technology’s Alex Kantrowitz gives his forecast for the sector. Plus, Evercore’s Roger Altman weighs in on the fed and when he thinks the next rate hike could be. And, top bank analyst Mike Mayo explains what he is watching ahead of the release of the bank stress tests.

Transcript

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0:00.0

Welcome to Closing Bell. I'm Scott Wopner live from Post 9 right here at the New York Stock Exchange.

0:03.8

This make a break hour begins with two big tech stocks on the move today.

0:07.3

Apple on the doorstep of history again hitting three trillion dollars in market, kept trying trying to anyway and in video one of this year's

0:15.4

biggest winners under some pressure today on reports of possible new export

0:19.4

restrictions to China. We are following both big stories and asking just how much of this rally is now

0:25.1

hanging on those two closely followed and widely held names. We'll ask big technologies,

0:30.9

Alex Cantruitz. In just a moment in the meantime your score card with

0:34.3

60 minutes to go in regulation stocks mostly lower for most of the day

0:38.8

health care and some defense names dragging the major averages lower there's the

0:43.0

S&B a fractional loser the Dow's a modest loser by about one third of

0:46.3

one percent but the Nasdaq take a look at that's trying to buck the

0:48.7

trend we'll see if it can over this final stretch takes us to our talk of the tape the rally the second half

0:54.7

and weather tech can continue to carry stocks higher Alex Kantowitz founder of

0:59.6

big technology and a CNVCor joins us right here right now.

1:04.9

So Apple on the doorstep again is the second time going to be the charm for the $3 trillion stock.

1:11.8

Feels like it should, right?

1:13.0

Because the last time Apple reached three trillion dollars, there were things on the horizon that

1:17.4

looked really menacing.

1:19.2

For instance, supply chain issues.

1:20.7

We were on the doorstep of Amacon or actually in the thick of

1:23.2

Amacon. Inflation was about to get started, rate raises were coming. We've been

1:27.8

through all of that now, right? So we know what's in store for the market and

...

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