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Closing Bell

Closing Bell: Is This Rotation the Real Deal? 12/6/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 6 December 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

Is the recent rotation real and is it truly time to turn your portfolio upside down as the new year approaches? Liz Young from Sofi gives her expert forecast. Plus, star chip analyst Stacy Rasgon breaks down all the biggest headlines from AMD’s big AI event. And, Alger’s Ankur Crawford is looking outside the magnificent seven for her 2024 playbook. She explains where she’s finding opportunity.

Transcript

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0:00.0

Guys, thanks so much. Welcome to the Closing Bell. I'm Scott Waughner live from

0:03.5

Post Nine here at the New York Stock Exchange. This make-a-break hour

0:06.2

begins with the best versus the rest. The best being Big Tech, which is

0:11.4

rallied the most this year as you know the rest well that's

0:15.0

all that hasn't the question now is a lasting rotation underway to those once

0:19.7

unloved areas we'll ask our experts over this final stretch. In the

0:23.8

meantime your scorecard was 60 minutes to go and regulation looks like this.

0:27.5

It is the Russell that's leading today. Small caps continuing to see a bounce back.

0:32.6

Nasdaq's a modest loser despite Apple hanging right around 3 trillion in market cap.

0:37.6

Yet again, interest rates, well they're falling again.

0:40.4

Labor costs falling, ADP employment coming in below expectations.

0:45.0

So that's what we're watching.

0:46.4

The two-year note yield is higher,

0:48.0

of everything else is down.

0:49.4

Takes us to our talk of the tape,

0:50.9

whether that recent rotation is real, and if it's truly time to

0:54.9

turn your portfolio upside down as the new year approaches. Let's ask Liz

0:59.1

Young so-fies head of investment strategy with me here at Post 9.

1:02.8

Nice to see you again.

1:04.0

You too.

1:05.0

That really feels like it's a conversation here.

1:06.4

We're trying to gauge whether this is legit,

...

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