Closing Bell: Can the Bulls Stay in Charge? 6/21/23

Closing Bell

CNBC

News, Business

4.4 • 140 Ratings

🗓️ 21 June 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Fed is apparently intent on hiking even more, so what does that mean for the big bull run? Ritholtz Wealth Management’s Josh Brown weighs in. Plus, Cantor’s Eric Johnston is doubling down on his bear case … again. He explains why he is still seeing risk in the market. And, CME’s Terry Duffy weighs in on Powell’s testimony today and what more rate hikes could mean for your money.

Transcript

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0:00.0	Welcome to Closing Bell, I'm Scott Wopner live from Post 9 right here at the New York Stock Exchange.
0:04.6	We have a big interview coming up in just a little bit. I'll go one-on-one with Canders, Eric Johnston,
0:09.7	one of the biggest bears on the street. He still says stocks are going lower. So far he's
0:16.0	been wrong. He is not backing down though and we look forward to that conversation.
0:21.2	In the meantime this make a break hour begins with a head
0:24.0	hawk on the hill. Fed Chair Jay Powell saying two more rate hikes are probably likely
0:29.4	no shock that rates moved up on that stocks. well they're trying to avoid a third
0:34.0	straight day of losses and they're doing a pretty good job of it at this hour in
0:38.9	this the final hour here's your scorecard with 60 to go in regulation.
0:43.2	The Dow in the red for most of the day.
0:44.8	It's been fighting for positive territory though.
0:46.7	It was dragged by tech names like Intel and Salesforce.
0:50.3	The Mega Caps Week or 2, which is weighing heavily on NASDAQ today. It
0:54.4	leads us to our talk to the tape whether the bulls can really remain in charge
0:58.2	with a fed apparently intent on hiking even more. Let's ask Josh Brown. He is Riddholz, Wealth Managements,
1:04.7	co-founder and CEO, as well as a CNBC contributor right here as you can see at
1:10.6	post nine. So,
1:13.0	post nine rules.
1:14.0	Powell was on message.
1:15.0	Yes, his message of last week.
1:17.0	No surprises.
1:18.0	So what do we do now?
	...

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