Closing Bell: Defensives on the Offensive 9/10/24
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 10 September 2024
⏱️ 43 minutes
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Transcript
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| 0:00.0 | Welcome to Closing Bell, I'm Mike Santoli in for Scott Wopner. |
| 0:05.0 | This make or break hour begins with economic slowdown concerns, setting the tone and |
| 0:09.5 | restraining the major indexes, which haven't been able to build on Monday's brisk rebound |
| 0:14.0 | rally to outrun those harder landing fears. Here's a look at the scorecard with an |
| 0:18.1 | hour left in regulation. See the S&P 500 up about one-third of a percent. It's been plus or minus |
| 0:23.3 | around the flat line all day. A few mega caps really responsible for that game, |
| 0:27.6 | Microsoft, Oracle, and Broadcom in particular. You see the NASDAQ is outperforming based on those stocks working |
| 0:34.6 | Dow is down a quarter of a percent. Russell lagging today just a bit by down by 0.2 percent. |
| 0:41.2 | Financials and consumer cyclicals have been pacing the downside. |
| 0:45.3 | That reflects a bit of that macro tunnel, though you see the financial sector down about 1%. |
| 0:50.4 | A sluggish global growth backdrop dragging Treasury yields to new 14 month lows as well. |
| 0:56.0 | Lots of dovish global growth data that's getting on people's mind. |
| 1:00.0 | 3.64 on the 10 year oil extending recent losses actually |
| 1:05.5 | accelerating down to a three year low $66 with W.T. I which all takes us to |
| 1:10.8 | our talk of the tape. How best to navigate a market spooked by late cycle |
| 1:14.8 | ghosts, running into seasonal headwinds, and distracted by political static. |
| 1:19.3 | Let's bring in Eric Johnson of K Cantor Fitzgerald, Shannon |
| 1:23.2 | and B Private Wealth, and Christina Hooper of Invesco, Shannon, |
| 1:26.7 | AC, and B, contributor. |
| 1:28.0 | All joining me here, great to see everybody. |
| 1:30.7 | Eric, want to just focus on your take which has for a while been flagging |
| 1:34.9 | downside risk to the economy and markets that maybe aren't prepared for it. |
... |
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