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Closing Bell

Closing Bell: Bull Market Intact? 5/24/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 24 May 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

What does the road ahead for this rally look like? Wharton Professor Jeremy Siegel tells us what he is expecting. Plus, Hightower’s Stephanie Link breaks down the latest moves she is making in her portfolio. And, venture capitalist Rashaun Williams tells us how he is putting his money to work in the tech sector and reveals his new sports investment.

Transcript

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0:00.0

This make a breakout begins with the full market, whether it is intact and capable of even more gains.

0:06.0

We will ask our experts over this final stretch, including the Wharton Schools Jeremy Seagull,

0:10.8

he will join us momentarily.

0:13.0

In the meantime, take a look at the scorecard with 60 minutes to go in regulation.

0:17.0

Got a pretty decent bounce back for stocks today following some revisions to inflation expectations.

0:22.8

That sent yields reversing lower, stocks higher.

0:26.1

Technology, one of the best groups today.

0:28.2

And by the way, the NASDAQ right now

0:30.4

is above a new closing high. So we need to track that over the final

0:34.2

stretches. Many of the mega caps including NVIDIA see nice gains today. Pretty good

0:38.8

day too for discretionary stocks like Decker's surging after its earnings.

0:43.2

It does take us to our talk of the tape, the road ahead for the rally.

0:47.0

Let's welcome in Wharton, Professor, Jeremy Seagull.

0:50.8

He joins us now.

0:51.8

Professor welcome, it's nice to see you again. Happy to be. See cover off the ball again and you know we had a turbulent day yesterday and a nice

1:04.7

bounce today at least in parts of the market. Yeah well I think no video did so

1:10.4

well it almost sucked all the oxygen out of the room so no one else could breathe yesterday and now I think they settled down.

1:18.8

I think what disturbed people yesterday was that little chatter in the FOMC minutes about some people saying,

1:27.4

hey, are we done raising? I mean, that would drive a stake into the heart of the bull market.

1:34.0

So any talk about that brings it out fear.

1:36.7

Now I absolutely do not think that that's going to happen.

1:39.2

I think a little settling down right now, I actually think the forward looking data that we're going to be

...

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