Closing Bell 7/17/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 17 July 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

From the open to the close, “Closing Bell” and “Closing Bell: Overtime” have you covered. From what’s driving market moves to how investors are reacting, Scott Wapner, Jon Fortt, Morgan Brennan and Michael Santoli guide listeners through each trading session and bring to you some of the biggest names in business.

Transcript

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0:00.0	Kelly, thanks so much. Welcome to Closing Bell. I'm Scott Wabner. This make
0:04.0	a break hour begins with the rally and weather earnings which really get going
0:08.1	this week will confirm or cancel it. We'll ask so fies Liz Young in just a moment.
0:13.0	First, your scorecard with 60 minutes to go now in regulation.
0:15.9	The Dow trying for six up days in a row.
0:18.1	With today's gains, we're right off the highest of the day.
0:20.3	We're still good for 80.
0:22.1	80 points that is, and that's about a fifth of a percent. Nice day. We're still good for 80. 80 points that is and that's about a fifth of a
0:24.0	percent. Nice day for J.P. Morgan. Financial's leading the way ahead of more
0:27.7	bank earnings tomorrow. Tech is strong as well. Both Netflix and Tesla are
0:32.4	higher. They get set to report midweek.
0:35.0	Apple shares also getting a lift and by the way we're going to talk about that
0:38.3	stock with Morgan Stanley's Eric Woodring. He just put out a new note on it today. We'll catch up with him in just a bit. Finally, interest rates. They're mostly lower and that you have to believe is keeping the pressure off of stocks a bit as well. It takes us to our talk of the tape a question many investors
0:54.4	are grappling with right now. Is it time to be sold on this bull market or still skeptical of
0:59.5	it? Liz Young is so far's head of investment strategy here with me with the answer at post nine.
1:06.0	I heard you. Are you sold on it yet or are you still skeptical of it?
1:10.0	I've been skeptical the whole way up and people have been angry with me for it. I've been skeptical the whole way up and people have been angry with me for it.
1:15.0	Yeah, well I haven't changed my mind yet. I mean I certainly haven't changed it now in the sense of we've run up really, really far and we've got valuations at extended levels by any measure.
1:24.3	You can look at it over historical measure, you can look at it currently, it just, it looks
1:27.8	very extended, particularly in tech in those growthy areas.
1:31.6	However, Tom Lee made the call last week, we still had more room to run, he
1:35.6	was right. I think we still can keep going until there's a reason not to. I do think
	...

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