Closing Bell: Hot retail sales helps sentiment, Sam Zell slams tax proposals, DOJ focuses on Apple 2/15/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 15 February 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks gained momentum throughout the session following a much stronger-than-expected retail sales print. Matt Shay from the National Retail Federation joins to discuss his view of the consumer, and why spending remains strong despite higher prices. Billionaire investor Sam Zell weighs in on the real estate market, the Fed, energy investments, and why he thinks some of the tax proposals being floated in Washington are “crazy.” Plus why Barclays sold off, a mixed bag of chip stocks, and why the DOJ may be taking a closer look at Apple.

Transcript

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0:00.0	Another mixed session here on Wall Street as investors way a red-hot retail sales number against stubbornly high inflation.
0:06.5	This is a make or break hour for your money.
0:08.8	Welcome everyone to Closing Bell, I'm Sarah Eisen.
0:11.0	Take a look at where we stand in the markets. Lower on the Dow, 59 minutes left of trading, down about a quarter of 1%. Down 77, the low of the day was down 256 points. S&B 500 is unchanged. That's because you have strength in groups like
0:24.7	Communication Services. Paramount is leading the charge there.
0:28.2	Berkshire Hathaway upping at stake in that name. Consumer discretionary utilities,
0:32.1	industrial, materials, and Technology.
0:34.6	Those are all your sectors in the green.
0:36.4	What's not working today, Energy, Staples, Real Estate, and Financials.
0:40.2	The 10-year Treasury yield a little bit higher up 3.8% on the back of strong data.
0:44.0	Check out some of today's biggest earnings movers as well.
0:47.0	Roblocks, Airbnb, analog devices, all jumping on results while Devon Energy pulls back.
0:53.8	Coming up on the show today, we will talk to National Retail Federation President Matt
0:57.7	Shay about today's much stronger than expected retail sales.
1:01.4	Waiy says, CPI really isn't the best measure right now of inflation.
1:05.3	And then later, a rare conversation with billionaire investors Sam Zell, everything from the state
1:10.9	of the economy to real estate, the Fed, and much more.
1:14.8	But first, it is time for the market dashboard.
1:16.6	Senior markets commentator Mike Santoli joins us.
1:19.5	Mike, what are you watching?
1:20.5	Well, really the intraday strength, Sarah, continues to be the story.
1:23.8	Really not dramatic index moves, but if you look at where we sit right now on the S&P 500 in the 41-30s,
	...

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