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Closing Bell

Closing Bell: Bet on a Year-End Rally? 10/31/23

Closing Bell

CNBC

Business, News

4.4139 Ratings

🗓️ 31 October 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

Can seasonality spur stocks higher into year’s end? Sofi’s Liz Young and Veritas’ Greg Branch give their expert forecasts. Plus, BTIG’s Jonathan Krinsky is charting out the key levels to watch in Nvidia. And, top chip analyst Stacy Rasgon breaks down what he is watching ahead of AMD results after the bell.

Transcript

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0:00.0

Welcome to Closing Bell. I'm Scott Wobner live from Post 9 here at the New York Stock Exchange.

0:03.7

This make-a-break hour begins with all that is riding on the next few days. The Fed decision tomorrow,

0:08.4

Apple earnings on Thursday jobs report to end the week. Those events surely to decide whether the best month of the

0:15.1

year historically for stocks gets going with a boom or bust. In the meantime

0:19.9

your scorecard with 60 minutes to go and regulation feels a little bit of a

0:23.4

wait and see for the markets as stocks go for their second straight

0:26.3

update we're adding a little bit there's the Dow third of 1% S&P 2 thirds

0:30.5

Nasdaq's green Russell Green, yields are playing.

0:33.4

We'll tell you about those in the second two, doesn't mean there aren't some big movers

0:36.4

as this final stretch begins though.

0:38.4

Caterpillar dragging the Dow, it reports earnings, warns of softening demand in China.

0:43.0

It's one of the weakest stocks today, down more than 6%.

0:45.4

How about VF Corp?

0:46.7

Sliding as it launches a big restructuring cuts its dividend.

0:49.8

Look at the stock down 15%.

0:52.1

Pinterest, though, it is surging on its own earnings as we highlight

0:55.8

one of the biggest up movers today near 19% elsewhere financials higher definitely

1:01.1

a defensive tilt, somewhat today.

1:04.5

Utilities remain one of the better sectors, there you go, but financials leading the way.

1:07.9

As for interest rates, well with the Fed meeting underway, 10-year holding steady below 4.9%. 487 is where we are.

1:16.4

As we begin the final stretch, it does take us to our talk of the tape.

1:19.4

The great debate over where stocks are heading in the next couple of months.

...

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