Closing Bell: 2-day win streak, Oaktree's Howard Marks on market volatility & Fmr. Bank of England Governor on risks of a recession 5/3/22

Closing Bell

CNBC

Business, News

4.4 • 141 Ratings

🗓️ 3 May 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks closing higher for a second straight day ahead of Wednesday's Federal Reserve decision on interest rates. Oaktree Capital’s Howard Marks discusses this year's wild market volatility and why he thinks the worst of the market's excesses have been corrected. Bridgewater’s Rebecca Patterson says she doesn't like stocks or bonds right now and explains what investments she finds attractive right now. Oppenheimer’s Chris Kotowski reveals the three big banks he thinks look cheap. And Former Bank of England Governor Mark Carney on whether the Fed will achieve a soft landing and avoid a recession. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Welcome everyone.
0:01.0	Stocks are inching higher.
0:02.0	The Fed meeting gets underway.
0:04.0	Is it the calm before tomorrow's rate decision storm?
0:06.8	The most important hour of trading starts now.
0:09.0	Welcome everyone.
0:10.0	To closing bell, I'm Sarah Eisen, live here at the Milken Global Conference in
0:14.3	Beverly Hills California here's where we stand right now in the market's higher as
0:17.9	Kelly noted we're off the session highs we got as high as up to 80 on the doubt but we've
0:21.5	also been lower down more than 100 today.
0:23.6	S&P 500 going strong so we're building on that reversal we saw yesterday up
0:27.7	seven tenths of a percent. It's the cyclical groups that are leading the market
0:31.2	energy, financials, materials, consumer discretionary
0:34.2	underperforming.
0:35.2	Nazdak also part of the rebound of 4 tenths and small caps, doing especially well at 1%.
0:40.7	It's kind of valucyclical kind of day.
0:42.4	Check out the most active names at the New York Stock Exchange.
0:45.4	In this final hour of trade, Chag,
0:48.3	getting hit hard today, down almost 30% off earnings.
0:51.3	CEO Dan Rosenzwey on
0:52.6	cambec earlier today Ford which continues to be in the most active names
0:55.9	along with some of the EB makers as well it's up today Nokia and Uber
	...

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