Closing Bell: Are Rate Hikes Working? 3/3/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 3 March 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s a big week ahead for investors with the jobs report looming – a key read on the state of inflation. That critical piece of data comes as some on the Fed wonder whether rate hikes are working to slow things down. Professor Jeremy Siegel of the Wharton School gives his take on what it means for your money. Plus, Fundstrat’s Tom Lee is forecasting a strong bounce for stocks. He makes his case – and explains the level he thinks we could hit in the next two months. And, can Tesla continue its strong run? Bryn Talkington of Requisite Capital Management gives her take.

Transcript

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0:00.0	Kelly,
0:02.2	thanks so much. Welcome to the closing bell.
0:03.8	I'm Scott Wobner.
0:04.5	This make or break hour begins with stocks looking to end
0:07.4	their long losing streak and they're on pace to do just that.
0:11.0	Here's the scorecard with 60 minutes to go in regulation that nice
0:14.2	bounce around this time yesterday as you can see is continuing into the final
0:19.0	stretch. Rates importantly as you can see at the bottom there backing off a little bit to
0:23.2	taking a bit of a breather that certainly seems to be helping things.
0:26.7	Apple and Meta are as well they're leading the charts for tech pretty good day for
0:30.3	the Nasdak too and that brings us to our talk with the tape the big week ahead
0:34.6	that jobs report looming large one week from today another critical read on the
0:38.6	economy and very much the state of inflation all this says some on the Fed are wondering
0:44.0	whether their rate hikes are working to slow things down.
0:47.2	Jeremy Siegel, Professor Emeritus of finance
0:50.0	at the Wharton School is going to be with us momentarily to kick all of that around.
0:55.4	Let's first bring in our new CNBC contributor, Malcolm Etheridge of CIC Wealth, along with
1:00.4	Bryn Tockington of requisite capital management also of course a
1:03.6	c and b c contributor good to see you both Malcolm congratulations welcome to the
1:08.2	fam it's good to have you so the markets felt a little bit dicey lately.
1:13.0	We had this nice pickup yesterday.
1:14.8	We've got a continuation today.
	...

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