Closing Bell 9/29/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 29 September 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

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	Welcome to Closing Bell. I'm Scott Wotner live from Post 9 right here at the New York Stock Exchange
0:03.8	a busy Friday. This make or break hour begins with news that is new on Closing Bell.
0:08.5	On the record comments now from Hedge Fund legend David Tepper. I spoke to him this afternoon about the markets
0:14.7	as a dismal month of September comes to a close. He told me the following about how he
0:19.3	sees the markets right now. Rates are rising, stocks are jittery,
0:23.2	Tepper telling me, quote, not that complicated right now.
0:26.8	You're just not in QE times anymore.
0:28.7	You're in the QT era.
0:30.4	It's a higher rate environment.
0:32.3	Can't be the same multiples as before.
0:34.0	It's not bad.
0:35.0	It's just different.
0:36.0	It's just a different environment.
0:38.0	Pretty clear for my conversation with the hedge fund legend.
0:40.0	He's trying to figure out what the right multiple in this market is just like all of you are.
0:44.6	Is it 18 times? 19 times? Is it 16? Is it lower than that? If so, that wouldn't be great. That's what he said.
0:52.6	It's not terrible, but he did tell me about a new investment he made yesterday.
0:56.7	You know what he did?
0:57.6	He got 6% on a CD for six months.
1:00.4	So he put some cash there, like a lot of you have done.
1:03.0	Says he didn't sell anything in his portfolio, that's clear.
1:06.0	Stocks are lower as we come on the air.
	...

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