Closing Bell: Choppy session, Netflix soars, Palantir & Hertz CEOs on partnership 10/19/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 19 October 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks closed mostly lower after an up-and-down session, as investors weighed strong earnings against rising yields and weaker data. Katie Stockton from Fairlead Strategies joins with her call for a multi-week relief rally. Netflix was a major outperformer following blowout earnings and subscriber numbers. Macquarie analyst Tim Nollen breaks down how the company’s ad-tier could impact future results. Meantime Palantir and Hertz announced a partnership to use data to improve the rental car experience. The CEOs of both companies join exclusively to explain the deal. And the CEO of Citizens Financial Group discusses the plunge in mortgage demand and the impact on regional banks. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Stocks are pulling back in a choppy session again here as weak data and
0:05.0	higher yields counter an upbeat earnings picture. Energy is the only sector
0:08.8	right now in the green. This is the make or break an hour for your money.
0:12.0	Welcome everyone to Closing Bell I'm Sarah Eisen. is the make a breaking hour for your money.
0:12.6	Welcome everyone to Closing Bell, I'm Sarah Eisen.
0:14.8	Take a look at where we stand right now in the market.
0:17.3	We are down on the Dow, about 200 points.
0:21.0	We were higher at one point in the day, but it looks like we've lost most of the steam.
0:24.6	There the S&P 500 down a full percent again. Energy, the only sector higher.
0:28.6	What's getting hit the hardest? Real estate, financials, health care, and consumer
0:32.4	discretionary.
0:33.4	The NASDAQ's down 1.3%.
0:35.9	The move in Treasury's is catching a lot of people's attention today.
0:39.6	We saw a fresh 14-year high on the 10-year year yield which is higher today.
0:43.4	Netflix is certainly helping but Nasak getting hit by a Microsoft Apple,
0:47.9	Amazon alphabet.
0:49.4	They're all weaker today.
0:50.4	Check out the big earnings movers.
0:51.6	Netflix definitely the stock story of the day.
0:53.8	It's the top performer right now on the S&P.
0:56.2	On the back of strong results.
0:57.4	More on that, of course, straight ahead.
	...

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