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Closing Bell

Closing Bell: Mega-Cap Earnings’ Market Impact 10/31/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 31 October 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

What lies ahead for your money over the remainder of the year? NewEdge’s Cameron Dawson breaks down what she’s expecting for stocks into year-end. Plus, Meena Flynn of Goldman Sachs tells us how she is navigating the uncertainty surrounding the election, earnings and the upcoming Fed decision. And, we run through what to watch from Apple and Amazon when those company’s report in Overtime.

Transcript

Click on a timestamp to play from that location

0:00.0

All right, thanks very much. Welcome to closing email. I'm Scott Wabner,

0:02.5

live from Post 9 here at the New York Stock Exchange.

0:04.4

This make a break hour begins with our countdown to Amazon and Apple earnings.

0:07.8

Perhaps even more important now, given the markets, unsettling reaction today to

0:12.0

Microsoft and Meta. You take a look at both of those

0:15.0

stocks are lower. We'll ask our experts what's at stake for stocks in

0:18.0

tonight's reports. In the meantime, let's show you the scorecard here with 60

0:21.5

minutes to go and regulation. We've been down all day led by Big Tech. Let's mega cap stock in the red as we speak and how about Uber it's a big drag to today

0:34.7

after its outlook and bookings disappointed the street and shares of our

0:38.7

parent company Comcast are hired a day after its earnings and word it is considering a spin of its cable

0:44.6

assets. We'll watch that closely over the final hour too. It's up 3 and a third percent.

0:48.5

Does take us to our talk of the tape with another month about to be in the books

0:51.9

what does lie ahead for your money over the remainder of this year

0:55.1

Let's ask Cameron Dawson chief investment officer for new edge wealth with me here at post nine once again. It's good to see you

1:01.4

Good to see you how does the backdrop feel to you in this market?

1:04.8

It's not too surprising to see this volatility. We had been seeing this somewhat dangerous

1:10.3

divergence start to brew over the last month where yields moved a lot higher. dangerous divergence

1:15.0

start to brew over the last month, where yields moved a lot higher, earnings estimates were getting cut for the fourth quarter and for 2025.

1:20.0

All the while the market kept pressing to new highs,

1:22.0

and it was based just on valuation.

1:24.6

So now that you're calling more questions about earnings with what Microsoft and what

1:30.0

Meadows said and that outlook into 25, not surprising to see some of this volatility kind of catch up to us.

...

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