Closing Bell: Does Bad Breadth Matter? 2/6/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 6 February 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Anastaia Amoroso from iCapital, Veritas’ Greg Branch and Keith Lerner of Truist debate where they see the rally headed from here. Plus, Aswath Damodaran – the so-called “Dean of Valuations” – reveals the one Magnificent 7 stock he thinks is “priced to insanity. And, New York Times Columnist Jim Stewart breaks down what is at stake for Disney when it reports in Overtime tomorrow.

Transcript

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0:00.0	All right, Court, thanks so much.
0:01.8	Welcome to Closing Bell.
0:02.6	I'm Scott Wobner live from Post 9
0:03.9	here at the New York Stock Exchange.
0:05.5	This make-a-break hour begins with everything
0:07.2	other than the mega-caps and why one of our experts today
0:09.8	says now is the time to buy those stocks.
0:12.4	We'll get to that in just a moment of course.
0:13.7	First your score card with 60 minutes to go in regulation looks like that. We've been
0:17.4	mixed for most of the day. It's the NASDAQ mostly muted and video
0:21.8	giving back some of its massive gains today.
0:24.7	Amazon and AMD also under some pressure as you see there, AMD down by about 3.5%.
0:30.2	We are also watching shares of New York Community Bank today as that stock trades.
0:35.2	But it is under five dollars a share.
0:37.9	Treasury Secretary Janet Yellen on the hill today saying she is watching that situation
0:42.3	around regional banks and commercial real estate
0:44.6	closely adding she is quote concerned but thinks it's manageable those are her words also
0:50.7	keeping an eye on yields they're holding firm following comments from Loretta
0:55.0	Mester. The Cleveland Fed president suggesting rate cuts quote later this year are
0:59.5	likely appropriate while also throwing some cold water on the idea of that first one coming in March.
1:05.6	It takes us to our talk of the tape.
1:07.2	The state of this rally, whether it really matters whether it's broad enough.
	...

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