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Closing Bell

Closing Bell: AI Regulation, Home Depot & Debt Ceiling Talks 5/16/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 16 May 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

Evercore ISI's, Greg Melich, discusses discuss Home Depot earnings and outlook and what it means for the retail sector. Richard Saperstein, Treasury Partners chief investment officer, discusses conflicting signals in the market and his playbook. Plexo Capital’s Lo Toney and Firstmark Capital’s Rick Heitzmann, discuss the A.I. arms race, regulation and outlook. Plus, iCapital’s Anastasia Amoroso and John Hancock’s Emily Roland, discuss the looming debt ceiling and the impact on stocks.

Transcript

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0:00.0

Welcome to closing bell I'm Scott Wobner live from post nine at the New York Stock Exchange

0:03.7

this make-a-break hour begins with breaking news all eyes on the White House right now

0:08.0

as the president meets with congressional leaders to try and hammer out a debt ceiling

0:12.3

deal our a man jabbers in DC with leaders to try and hammer out a debt ceiling deal.

0:13.2

Are Amman Javers in DC with the very latest?

0:16.3

Aaman.

0:17.0

Scott, we know some of the congressional leaders

0:18.7

are on their way to the White House right now

0:20.6

for this 3 PM meeting.

0:21.6

They have left the building so to speak over at

0:24.1

the other end of Pennsylvania Avenue we're going to wait to see what they say if

0:27.6

anything at their arrival and what happens in this high stakes meeting today

0:32.3

at the White House.

0:33.4

We have a new no doubt from Goldman Sachs

0:35.2

in which they're saying that they expect

0:36.5

that any headlines that come out of this meeting

0:39.0

because it's still relatively early,

0:40.8

before that X date of June 1st or thereabouts.

0:44.0

Any headlines that come out of this meeting might be negative in the sense that they don't expect

0:48.0

this to be the meeting where a deal gets done.

0:51.0

Speaker McCarthy has had some very negative rhetoric

0:54.4

over the past 24 hours suggesting that he doesn't see enough progress

...

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