Closing Bell: Navigating the Big Tech Bounce 12/13/24

Closing Bell

CNBC

Business, News

4.8 • 118 Ratings

🗓️ 13 December 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Will stocks run or limp to the finish line this year? Perhaps the answer lies in what happens with tech which has seen a resurgence. We break down the big move in Broadcom and Apple’s massive run to $4 trillion. Plus, Payne Capital’s Courtney Garcia, NB Private Wealth’s Shannon Saccocia and JPMorgan Asset Management’s Jordan Jackson tell us what they’re forecasting for stocks. And, Former Cleveland Fed President Loretta Mester breaks down what she is expecting from the Fed next week – and what it is at stake for the economy.

Transcript

Click on a timestamp to play from that location

0:00.0	All right. Thanks so much. Welcome to closing bell. I'm Scott Wobner live from Post 9 here at the New York Stock Exchange on this Friday.
0:05.7	This Baker-Bakeout begins with two big tech stories. We are following Apple, tracking towards $4 trillion in market cap, and Broadcom surging towards its best day ever.
0:15.0	We have reports on both coming up. In the meantime, here's the scorecard with 60 minutes to go in regulation. Stocks broadly
0:21.8	lower today as the week winds to have closed, though NASDAQ making a little run here. Dow's
0:27.7	off about 2% for the week. It is working on a six-day losing streak. More stock down and up, which
0:34.3	has been the trend of late. It does take us to our talk of the tape.
0:38.1	Well, stocks run or limp to the finish line this year. Perhaps that answer lies in what happens
0:42.9	with tech, which has definitely seen a resurgence of late. We mentioned Apple and Broadcom,
0:47.4	the big stories of this day. Our tech reporter, Steve Kovac, and Bernstein, Stacey Raskin,
0:52.3	on the case for both of those fronts. Steve Kovac, westein, Stacey Raskon on the case for both of those fronts.
0:55.5	Steve Kovac, we start with you in this march towards $4 trillion.
0:58.1	Yeah, getting pretty close here.
0:59.4	And let me give you a few stats here, Scott, on what Apple shares have been doing these last several days.
1:04.4	Hit intraday highs on Monday, Tuesday, and Wednesday this week.
1:07.3	That capped nine straight days of intradase highs.
1:10.5	That streak, of course,
1:11.2	ended yesterday. Shares are about 7% maybe a little less from hitting that $4 trillion milestone.
1:17.0	Of course, it would be the first public company did ever reach that mark. And there's a lot going on
1:21.6	in the meantime in Apple's world outside of these price moves here. Launch of Chapch, GPT on iPhone.
1:27.3	That happened on Wednesday and more artificial intelligence features as that Apple Intelligence Suite.
1:32.3	Those are coming early next year.
1:34.3	And then earlier this week, we got that information report.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.