Closing Bell: Cornucopia of Concerns Hit the Market 5/2/23
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 2 May 2023
⏱️ 43 minutes
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| 0:00.0 | Welcome to closing bell. I'm Scott Wobner live from post nine right here at the New York stock |
| 0:03.9 | exchanges. This make-a-break hour begins with this big day and the countdown to the Fed decision now less than 24 hours away. |
| 0:10.8 | So much riding on that outcome. Stocks already jittery, whether it's |
| 0:14.5 | worries about regional banks weighing on sentiment or more data showing a |
| 0:18.2 | weakening US economy. Here's your scorecard with 60 minutes to go in regulation. Dow under some pretty heavy selling |
| 0:24.5 | pressure for most of the day as you know by now. So much for the S&P closing in on 4200 |
| 0:30.0 | it was just on the doorstep. It's back way off that round number now |
| 0:33.8 | Nasdaq given back a good amount today as well as technology slides small |
| 0:39.3 | caps under pressure to Russell down by 2%. Brings us to our talk of the tape, |
| 0:43.7 | the cornucopia of concerns hitting the markets today |
| 0:46.8 | and what it might mean for where we go from here. |
| 0:49.2 | Let's bring in senior markets commentator Mike Santoli |
| 0:52.1 | for more on that. It really is a laundry list of |
| 0:54.2 | issues on your mind yeah we didn't have to go far to find things to worry about |
| 0:57.2 | today I think though it starts with when the market when the S&P 500 is that the |
| 1:01.6 | upper end of its range as it has been hanging around for a while. |
| 1:05.4 | More things have to go right and fewer things have to go wrong to keep it there. |
| 1:08.6 | The huge stocks did their job by insulating us from some macro concerns. |
| 1:13.2 | Much better than expected earnings last week, |
| 1:15.2 | I feel like kind of got burned up in the way of higher prices. |
| 1:19.3 | And then you get mixed with regional banks |
| 1:22.0 | unable to rally on what could have been that clearing |
... |
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