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Closing Bell

Closing Bell: Mixed session to end the week, Gary Vaynerchuk on Super Bowl Ads, Google employee dissent 2/10/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 10 February 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

The major averages saw mixed action to close out a mostly downbeat week on Wall Street. Warren Pies from 3Fourteen Research discusses the technical levels he’s watching in the S&P 500, and a potential false buy signal that could trick investors. Content and advertising expert Gary Vaynerchuk talks about the record $7 million price tag for Super Bowl ads, and why he thinks they’re still underpriced. Michelle Meyer from Mastercard breaks down the muddled picture on the consumer – as sentiment tops estimates but color from earnings calls comes in mixed. Plus the latest on employee dissent at Google over its AI unveil, and Lyft’s earnings disaster.

Transcript

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0:00.0

It is a mixed session for the major averages to close out a mostly downbeat week as attention turns to Tuesday's inflation report.

0:10.0

This is the make or break hour for your money.

0:12.0

Welcome to closing bell. I'm Mike Sant break hour for your money. Welcome to the closing bell.

0:12.8

I'm Mike Santoli in for Sarah Eisen.

0:15.2

Here's where things stand in the market.

0:16.4

The S&P 500 really been kind of twitching around the flat line

0:19.8

most of the day.

0:20.4

Now slightly positive, actually did have a bit of a decline less than half

0:23.9

a percent at the lows for the day the Dow outperforming some of the

0:26.8

defensive issues such as United Health behind that the NASDAQ giving some

0:31.0

back Tesla is a downside leader there.

0:33.0

10 year note, bumping higher above 3.74%.

0:37.0

Here's the scorecard for the week on the major averages.

0:40.0

The NASDAQ is faring the worst. Of course it was strongest

0:44.1

the year today coming into this week but it has shown declines week to date. The

0:48.3

S&P 500 down about a percent percent 1.2 percent or so at this point, still at more than 6 percent year to date.

0:55.7

Coming up on today's show, we'll talk to content and advertising expert, Gary Vainerchuck, whose

1:01.0

agency has three ads in Sunday's Super Bowl, he'll tell us why he thinks the

1:05.4

record $7 million price tag for a 30 second spot is actually underpriced.

1:11.4

All right, well, let's take a look at the S&P 500 where this week's action, a little bit of a payback

1:16.3

week for the S&P 500 has taken it.

1:19.8

You know, we're kind of knocking around this 4,100 level. The highs for this rally, which started at the

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