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Closing Bell

Closing Bell: Microsoft’s Antitrust Investigation & Amazon's Invent Conference 12/3/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 3 December 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

From the open to the close, “Closing Bell” and “Closing Bell: Overtime” have you covered. From what’s driving market moves to how investors are reacting, Scott Wapner, Jon Fortt, Morgan Brennan and Michael Santoli guide listeners through each trading session and bring to you some of the biggest names in business.

Transcript

Click on a timestamp to play from that location

0:00.0

Guys, thanks so much. Welcome to closing bell. I'm Scott Wobner, live for Post 9 here at the New York Stock Exchange.

0:05.8

This maker breakout begins with the look ahead for your money as one strategist takes his target for stocks next year to the highest on the street.

0:12.6

Wells Fargo's Chris Harvey joins us momentarily on why he says another great year is in store for your money.

0:18.1

And later, the mentalist is back. O'S Perlman is here with a new

0:22.4

trick to no doubt leave us wondering. How do you do that? We'll see it in a little bit. In the meantime,

0:28.2

let's show you the scorecard with 60 minutes to go in regulation. Outside of the mega cap,

0:31.6

not a lot of green on the screen today. You'll see the S&P's barely positive. Nasdaq's outperforming, Apple hitting a new all-time high today.

0:39.0

Otherwise, S&P sectors are split. We will watch everything over this final stretch. It does take

0:44.2

us to our talk of the tape. Lofty returns in the new year. That's what our first guest is predicting

0:49.8

today. Chris Harvey of Wells Fargo right here at Post 9. Welcome back. Thank you. That's a big setup for

0:55.9

you, man. It's a big setup. 7,000, not 7,000 and not 7,000 and 5, 7,000. Big James Bond fan. It's

1:05.6

7-07, just so you know. 7-07. Why'd you come up with that? How? Well, we came up with that.

1:11.6

The market multiple is 22.

1:12.6

We saw 16% growth for next year and the year after that.

1:16.6

That's matching what we expected the S&P to do next year.

1:20.6

And so really we're not talking about multiple expansion.

1:22.6

We're talking about EPS growth and EPS growth going higher. You have a good economy, you have tight credit spreads, you have less regulation, fundamentals are improving, and the rich continue to get richer.

1:30.3

So this is all based, if not, maybe not all, but substantially based on what people expect to be a Trump policy bump for the market.

1:42.3

Yeah. It sounds like.

1:43.3

It's that.

1:45.0

It's the fact that you have a strong economy.

1:48.0

Credit is widely available.

...

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