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Closing Bell

Closing Bell: Musk’s Moment of Truth 4/19/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 19 April 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

Investors awaiting Tesla’s results – with a lot at stake for that stock and Elon Musk. Dan Ives of Wedbush breaks down what he is watching. Plus, NewEdge’s Cameron Dawson and Nicole Webb of Wealth Enhancement Group give their expert market forecasts. And, a rundown of all the key names reporting after the bell – including the likes of IBM, Las Vegas Sands and Lam Research.

Transcript

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0:00.0

Welcome to closing bell. I'm Scott Wopner live from post nine here at the New York Stock Exchange.

0:04.8

This make-a-break hour begins with the countdown to another marquee name getting set to report earnings.

0:09.7

Tesla hitting it overtime. The stock up nearly 50% year to date you heard me right so

0:16.3

there's a lot riding on that report we're gonna walk it right up to the

0:19.7

release as well here's a scorecard with 60 minutes to go. In regulation, stocks once again searching

0:25.0

for some direction. I don't know, maybe they'll find it after these mega caps begin reporting earnings.

0:30.1

We'll mean a lot to the NASDAQ obviously which has been moving between positive and negative

0:33.9

territory for much of the day.

0:36.0

You see it's a fractional winner as we speak yields higher for most of the session too.

0:40.6

That's capped action in equities a little bit as well it brings us to

0:44.2

our talk of the tape musk's moment in just about an hour's time Dan Ives covers that

0:49.0

company for Wed Bush he is here with me as he always is on set.

0:53.4

It's good to have you here on a big day.

0:56.1

They cut prices again.

0:57.8

How many times?

0:58.8

What do you make of this?

1:01.2

Look, it's the moment of truth.

1:02.4

Because ultimately they've cut prices demands

1:05.1

been stimulated. We've seen that especially in China. It's all about margins. I mean margins is really going

1:10.0

to be the story or can they maintain that 20% margins in the Senate if they are and we believe

1:15.6

they will it's a flexed the muscles moment for musk in terms of the arms.

1:19.9

How do you believe that they will now granted their margins are better than everybody else

...

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