Closing Bell: Can You Trust the Rally? 6/1/23

Closing Bell

CNBC

News, Business

4.4 • 140 Ratings

🗓️ 1 June 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Can you trust and depend on this rally as we begin a new month? Wharton Professor Jeremy Siegel gives his expert take. Plus, Chris Harvey from Wells Fargo breaks down the AI arms race and how it holds up to the dotcom bubble of the 90’s. And, Mike Santoli digs in on AI, the big earnings in Overtime, and the Fed.

Transcript

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0:00.0	Welcome to Closing Bell.
0:01.0	I'm Scott Wopner live from Post 9 at the New York Stock Exchange.
0:03.6	This make a break hour begins with a rally to start the new month.
0:07.2	We are at the highs of the day, by the way.
0:09.3	We have a big interview coming up in moments.
0:11.6	Wharton Professor Jeremy Seagull is here in just a
0:14.6	sec with what the summer might hold for stocks. In the meantime let's look at your
0:18.3	scorecard with 60 minutes to go and regulation now Dow as I said getting a
0:22.2	nice boost today and it's from United
0:24.2	Health and Chevron and Caterpillar and names like American Express.
0:28.0	Second interesting story too. Some of those cloud and AI names recovering a bit
0:32.3	from their intraday lows earlier today. of those
0:34.0	earlier today.
0:35.0	Pretty good one for Apple as well, ahead of next week's worldwide
0:38.0	developers conference.
0:39.0	Energy, the worst sector last month is leading today a rare victory for that beaten down space
0:45.9	It leads us to our talk of the tape can you trust and depend on this rally as we begin a new month
0:51.8	Let's ask the aforementioned Professor Siegel.
0:54.8	He is with us today, as always from Philadelphia.
0:57.2	Professor, welcome back.
0:59.8	Happy to be here, Scott.
1:01.0	New month?
	...

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