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Closing Bell

Closing Bell: Election Volatility & Apple Earnings Aftermath 11/01/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 1 November 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

From the open to the close, “Closing Bell” and “Closing Bell: Overtime” have you covered. From what’s driving market moves to how investors are reacting, Scott Wapner, Jon Fortt, Morgan Brennan and Michael Santoli guide listeners through each trading session and bring to you some of the biggest names in business.

Transcript

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0:00.0

Welcome to Closing Bell. I'm Scott Wapner, front and center. Right now, very big week ending,

0:04.5

an uncertain one about to begin as the bull market tries to make sense of all of its stocks rallying across the board.

0:10.6

We're going to ask our experts over this final stretch, what lies ahead in this last and very important hour?

0:17.1

Take a look at the scorecard with 60 minutes to go in regulation, a weaker than expected, but noisy jobs report, all but being brushed off by the markets today, which are being led higher by Amazon and the consumer discretionary sector. Most other mega caps hired, too, with the exception of Apple following that company's earnings last night. You see that stock down. About one and a half percent of the big winners today, Intel and Chipotle,

0:37.8

which is bouncing back following its post-earning sell-off. It does take us to our talk of the tape.

0:43.0

Two months to go for stocks and a very big week ahead with the election and the Fed meeting looming large.

0:49.0

Let's ask our panel what's really at stake. Stephanie Link of High Tower Advisors, Greg Branch,

0:53.3

the Branch Global Capital Advisors, Greg Branch, the Branch Global Capital

0:54.6

Advisors and Iaco, Yoshioca of Wealth Enhancement Group.

0:58.6

Stefan Gregg are CNBC contributors. It's good to have everybody with us. Nice to see you back

1:03.4

here. Good to be. With us. Mr. Branch. So what's your, what's your current view of the

1:08.0

market? So it's still neutral.

1:17.4

And other than the election, I'm really searching for a catalyst to believe in either negative or positive.

1:21.2

Now, when we look at the election, of course there's some de-risking here that goes on,

1:25.3

no matter what the outcome is with one candidate on another level down. When you transition from candidate to elected official, we get to weed

1:30.3

out some of the rhetoric and noise that was never going to make it into policy anyway. So I think

1:35.3

that that's a de-risking event as well. And then thirdly, both of these candidates have been in

1:39.3

office before. So we know what sectors and industries they've been supportive of and where we might see a very particular and specific talent.

1:46.7

So you've been willing to stay neutral, I think, for a while, right?

1:52.4

In the slow lane, so to speak, all this traffic's been passing you in the left lane.

2:00.2

It has.

2:00.8

And why have you refused to... All this traffic's been passing you in the left lane. It has.

...

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