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Closing Bell

Closing Bell: Bulls Back in Control 5/9/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 9 May 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

From the open to the close, “Closing Bell” and “Closing Bell: Overtime” have you covered. From what’s driving market moves to how investors are reacting, Scott Wapner, Jon Fortt, Morgan Brennan and Michael Santoli guide listeners through each trading session and bring to you some of the biggest names in business.

Transcript

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0:00.0

All right now.

0:01.0

All right guys, thanks so much.

0:02.0

Welcome to Closing Bell.

0:03.0

I'm Scott Wobner live from Post-9 here at the New York Stock Exchange.

0:06.3

This Make-O-break hour begins with the best playbook for your money right now, and we will

0:09.9

get it exclusively today in just a bit from Pimco's Aaron Brown. She's going to

0:13.8

reveal her latest asset allocation strategy first. She's going to do it right

0:18.3

here. In the meantime, your scorecard was 60 minutes to go and regulation looks

0:21.5

pretty good. There's 5212 on the

0:23.8

S&P. Why is that significant? Because if we can hold this, it would be the first

0:28.4

close above 5,200 in a month. Exactly a month. And we're looking pretty good in this final stretch

0:35.8

because it's a pretty broad rally. The major averages are all higher, energy,

0:39.6

utilities leading the way, but we're almost green across the board. Well not necessarily growth. It is a

0:45.5

tough one today for Roblocks those shares are plunging following the company's guidance

0:49.2

today. There it is stocks down 21.5 percent. It does take us to our talk of the tape, the resilient

0:54.2

rally, how long this can last. Let's welcome in Kristen Bitterly of City Global

0:58.2

Wealth. She's here with me at post nights. Good to see you. Good to see

1:00.6

you too. Is this what the next leg of this rally looks like one that is

1:05.1

carried by a lot of things other than tech? Absolutely. I think that we've

1:09.5

entering into this year we thought that there would be a broadening out of earnings and I actually think it's good to see this is a healthy rally in terms of seeing it across the board without that type of concentration

1:19.3

But I think we have to point back to the fundamentals that are driving it as well.

1:23.0

This earning season has actually been better than expected.

...

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