Closing Bell: Can Tech Carry Stocks Higher? 10/12/23
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 12 October 2023
⏱️ 43 minutes
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| 0:00.0 | Kelly, thanks so much. Welcome to Closing Bell. I'm Scott Wopner live from |
| 0:03.3 | Post Nine right here at the New York Stock Exchange. This make-or-break hour |
| 0:06.5 | begins with the major averages trying for five straight days of gains. That's |
| 0:10.5 | clearly shaping up to be a struggle to say the least rising rates no doubt a headwind today on that hotter than expected |
| 0:17.0 | CPI report and a week Treasury auction right around midday. There's your picture. Dow S&P, NASDAQ, Russell, all week. |
| 0:26.2 | That's your scorecard with 60 minutes to go in regulation as there is plenty of red on the |
| 0:29.9 | board today. Materials, industrial, and staples, all dragging stocks lower today. |
| 0:34.2 | It's pretty weak. |
| 0:35.2 | Overall, you look under the hood, you see a lot of weakness. |
| 0:37.9 | There's your picture from the three sectors that I mentioned. |
| 0:40.5 | Financials, they're lower too as they get ready to kick off earning season in the morning, |
| 0:44.3 | City, J.P. Morgan, Wells Fargo, all of that before the bell. |
| 0:48.8 | Check, well it was one of the only decent spots today. |
| 0:51.9 | Even it now has rolled over. We show you the |
| 0:54.4 | tech XLK ETF. It does take us to our talk of the tape with the NASDAQ |
| 0:59.0 | performing better lately and still on track for a relatively strong week, |
| 1:03.0 | can tech alone carry the market higher |
| 1:05.0 | into the end of the year, |
| 1:06.0 | just as it did for the first six months of 2023. |
| 1:09.0 | Let's ask someone who counts several tech names |
| 1:12.0 | as top holdings. |
| 1:13.2 | Amy Kong is with Corrient. |
... |
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