Closing Bell: Can Amazon Stop the Sell Off? 10/26/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 26 October 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tech has been feeling some serious pain. So, can Amazon stop the sell off or only add to it? All-star panel of Dan Greenhaus of Solus Alternative Asset Management, Big Technology’s Alex Kantrowitz and Evercore ISI’s Mark Mahaney weigh in. Plus, Sonia Meskin from BNY Mellon is making the case for caution into year end. And, top chip analyst Stacy Rasgon breaks down what he is watching when Intel reports after the bell.

Transcript

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0:00.0	Kelly, thanks so much. Welcome to closing bell. I'm Scott Wopner live from
0:03.9	CMVC Global Headquarters today. This make-a-break hour begins with stocks on
0:07.2	the retreat again and once again it's tech at the center of that takedown and
0:11.5	if that's not enough
0:13.0	another moment of truth less than an hour away
0:15.2	when Amazon reports earnings in overtime.
0:17.7	Top analyst Mark Mahaney with me momentarily
0:20.2	to size that up in the meantime,
0:22.0	your scorecard with 60 minutes to go in
0:23.8	regulation we start of course where else the Nasdaq on pace now for a near
0:28.0	5% decline in just a couple of days trying to improve as this day stretches on. We'll see how it goes. It's been a brutal stretch of selling.
0:36.5	Apple under 170 meta plunging even after its blowout earnings report.
0:41.4	NVIDIA threatening to close below 400.
0:44.2	Not even Microsoft able to get much going
0:46.2	and it had really good earnings earlier this week.
0:48.8	More broadly, yes, we are watching the S&P 500.
0:51.8	It closed below that key 4200 level yesterday you take a look here
0:56.2	it's moving further away from it health care energy among the weakest sectors in
1:00.5	the session it takes us to our talk of the tape, the state of this unsettled market,
1:05.2	whether Amazon might help stop the sell off or only add to it. Let's ask Dan Greenhouse,
1:10.8	chief strategist for Solis Alternative Asset Management and Big Technologies
1:14.8	Alex Cantruitz, also a CNBC contributor, both as you see are with me at our global headquarters
	...

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