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Closing Bell

Closing Bell: Bracing for a Big Breather? 4/2/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 2 April 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Is an overbought stock market about to take a big-time breather? Our all-star panel of Solus’ Dan Greenhaus, New York Life Investments Lauren Goodwin and Citi’s Kristen Bitterly break down their forecasts. Plus, Ken Squire from 13D Monitor breaks down the big battle for Disney’s board. And, Goldman Sachs’ Tony Pasquariello weighs in on where he sees the record rally really heading from here.

Transcript

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0:00.0

Welcome to closing bell up Scott Wopner live from post nine here at the New York Stock Exchange

0:04.8

this make-a-break hour begins with rising anxieties over the rally as a jump in interest rates.

0:09.3

Well it's sending stocks falling today we're going to ask our experts over this final

0:12.7

stretch whether the markets are likely to continue to go down from here and where

0:17.7

they are likely to go in the meantime your scorecard was 60 minutes to go and

0:20.8

regulation looks like this the major averages under pressure for

0:23.4

most of the session today. That's where they currently are. We are off the worst levels. It's

0:27.6

the 10 year yield. Well, it's hitting its highest level since last fall and that's made the

0:31.3

market's a little uneasy the

0:33.0

biggest loser today and besides the move in rates oil's higher gold's

0:38.1

higher dollars higher watching all that united health not higher it's the biggest

0:42.1

drag on the dowel on a surprise from the government

0:44.7

regarding Medicare plan payments and Tesla's falling again as delivery numbers miss Wall Street

0:49.9

estimates it does take us to our talk of the tape, whether an over-bought stock market's

0:54.4

about to take a big-time breather.

0:56.8

Let's ask our big-time panel, Dan Greenhouse of Solis Alternative Asset Management,

1:01.1

Lauren Goodwin of New York Life Investments, and Kristen Bitterley of

1:04.1

City Global Wealth. As you see, everybody's with me at Post-9 today. Nice to see everybody.

1:09.3

Kristen, I'll come to you first. Is today about yields, nervousness about where they may go and

1:14.7

that the Fed may not cut as soon as we hope? I think it's a little bit of a garden

1:18.3

variety pullback. I mean we've heard day after day that we're either touching

1:22.3

all-time highs or within reach of all-time

...

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