Closing Bell: Do the Bulls have the Upper Hand? 5/1/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 1 May 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

… or is the old cliché “sell in May and go away” your best strategy? Josh Brown of Ritholtz Wealth Management and Marci McGregor of Bank of America Merrill Lynch give their expert market takes. Plus, Fundstrat’s Mark Newton is breaking down the key S&P level to watch ahead of this week’s Fed meeting. Plus, a rundown of what to watch when MGM reports results.

Transcript

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0:00.0	Welcome to closing bell. I'm Scott Wobner live from post nine here at the New York Stock Exchange.
0:03.6	This make a break hour begins with stocks. Well, they were trying to rally to kick off the big week for your money.
0:09.0	We'll see if they could keep that up. The Fed decision now just 48 hours away excuse me more earnings too
0:14.4	including the biggest stock in the market Apple. Here is your score card with
0:18.8	60 minutes to go in regulation. Well I mean the Dow was beginning May with a late day turnaround was up triple digits earlier gave it all back and now it's sitting virtually flat similar story today for the S&P and the NASDAQ S&P did get well ever closer to 4200 gave it back.
0:36.5	Technology not getting much going today as well. It all leads us to our talk of the tape.
0:42.0	Do the Bulls have the upper hand in this market again?
0:44.6	As some are saying, or is that old cliche, sell in May
0:48.1	and go away your best strategy?
0:50.2	Let's ask Josh Brown, Ridd Holtz Wealth Management, co-founder, CEO, and a
0:54.4	CNBC contributor. Welcome, it's good to see you.
0:56.7	Hello, Judge.
0:57.7	New month, new hairdo, all is new and fresh.
1:01.7	About that. So what about this this idea I mean there there was some
1:03.9	you know the bulls have the upper hand I agree with the premise and it's an
1:08.1	interesting conversation because if you want if you thought about how we went into
1:10.9	the year what was the big risk? The bond market, like how
1:14.5	much further is affecting the, that was it, every day all day. The bond market right now is
1:19.2	a basket case. Consider this. Right now the highest yield on the curve is the four month it's
1:24.5	5.2% yield right now the one month for contrast is at 4.3 this is a huge
1:31.4	spread between maturities that are like three months apart.
1:34.9	It's crazy.
	...

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