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Closing Bell

Closing Bell: How Far Can the Rally Run? 11/20/23

Closing Bell

CNBC

Business, News

4.4141 Ratings

🗓️ 20 November 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

How far can the AI fueled rally really run? Adam Parker from Trivariate gives his take. Plus, Big Technology’s Alex Kantrowitz and CIC Wealth’s Malcolm Ethridge weigh in on the chaos at Open AI and what it might mean for Microsoft’s stock. And, Anastasia Amoroso of iCapital breaks out her 2024 market playbook.

Transcript

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0:00.0

Welcome to Closing Bill. I'm Scott Wobner live from Post 9 here at the New York Stock Exchange.

0:03.7

This make-a-break hour begins with the NASDAQ on the run again. And once again, it is AI at the center of it all. Microsoft shares hitting another record high today. It hires the founder and one-time leader of open AI that

0:16.1

company thrown into chaos over the weekend as you undoubtedly know by now

0:20.4

other key players in the AI space whether whether it's alphabet or Amazon. They're also higher, of course,

0:25.2

NVIDIA approaching $500 a share ahead of its critical earnings report tomorrow. We're going to discuss all of that.

0:31.5

Take a look at the scorecard with 60 minutes to go in regulation.

0:35.4

We do have a good amount of green today and we are ramping a bit

0:39.2

as we begin this final stretch outside of Microsoft.

0:42.0

The Dow has gotten a big boost today by Boeing and

0:44.6

upgrade there.

0:45.7

The Russell 2000s higher again after coming up its strongest week in months and how about

0:50.9

interest rates?

0:51.9

They're calmed to the 10 year near 4.4 well there it is 442

0:56.4

It's the lowest level of the day. I think on the 10 year note yield it does take us to our talk of the tape

1:01.1

How far can this rally run? A rally pushed again today by the AI

1:06.0

hype, but some say in need of much more to keep the party going. Let's ask Adam Parker, he's

1:10.9

the founder and CEO of Trivariate Research, a

1:13.5

C. M. C contributor and he's back here at Post Nine. Good to see you. Good to be here.

1:18.4

A remarkable run, a remarkable rally. And here we are, highs of the day as we begin the final stretch and it's the

1:24.8

similar kind of story right all these mega cap stocks not a one are in the

1:29.6

red yeah I mean as we talked about last few weeks I mean, as we talked about the last few weeks, I mean, in years where the market's up

1:36.6

a lot January through October 31st, it almost always rallies November and December.

...

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