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Closing Bell

Closing Bell: Great Expectations 11/13/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 13 November 2024

⏱️ 42 minutes

🧾️ Download transcript

Summary

Where are these markets likely to head over the next few months? Courtney Garcia of Payne Capital, HSBC’s Max Kettner and Capital Area Planning Group’s Malcolm Ethridge debate where they see stocks headed. Plus, top technician Jonathan Krinsky from BTIG says U.S. stocks seem to be the only game in town right now. He explains why. And we explain why Jetblue shares soared in today’s session.

Transcript

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0:00.0

I'm welcome to closing bell. I'm Scott Wapner live from Post 9 here at the New York Stock Exchange.

0:04.2

This make or break out begins with great expectations for the economy and of course your money.

0:08.9

Following the post-election stock surge, we'll ask our experts over this final stretch just how long this can all last.

0:15.3

In the meantime, I'll show you the scorecard with 60 minutes to go in regulation.

0:19.3

We did have a midday pickup in the major

0:22.2

averages, but it's dissipated a little bit. We're still hanging positive on the Dow and the S&P.

0:28.6

NASDAQ is a fractional loser. The latest CPI came in as expected, but did still show that

0:35.4

inflation remains sticky, and that sent yields at the long end of the Treasury curve

0:39.3

higher today.

0:40.3

445 is where we sit on the tenure,

0:43.3

and that might be part of the issue today.

0:45.3

Elsewhere, you do have yields at the shorter end,

0:47.3

the two and the five.

0:48.3

Our lower discretionary and energy are the best sectors

0:51.3

in a mixed day overall internally. It does take us to our talk of the tape where these markets are likely to head over the next few months.

0:59.5

Let's ask Courtney Garcia of Payne Capital Management, a CNBC contributor with me here at Post 9. Welcome back.

1:06.1

Thanks for having me. Are we supposed to just keep buying into this post-election surge?

1:16.2

Or what's your take on just how quickly we've done, what we've done, and what it might mean for where we go?

1:20.8

Yeah, and clearly what you're seeing is there is like an excitement and a euphoria post-election.

1:23.9

And everybody is really starting to get in there and putting that risk on rally.

1:28.9

And when you look at like the S&P 500, for example, it is trading expensive, right? It trades about 22 times forward earnings, which is historically expensive. But as you've

1:34.1

seen in history, markets can stay expensive for a while. So I don't think this is ending any

...

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