Closing Bell Overtime: A Bull Vs. Bear Market Debate; Why Zillow Doesn’t See Housing Prices Coming Down Anytime Soon 06/12/23

Closing Bell

CNBC

News, Business

4.4 • 140 Ratings

🗓️ 12 June 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks closed higher today, near session highs as the Nasdaq notched its seventh straight positive close. Cantor Fitzgerald’s Eric Johnston and Cresset Capital’s Jack Ablin break down the market action. Third Bridge’s Scott Kessler reacts to earnings from tech giant Oracle. Zillow Chief Economist Skylar Olsen on the highlights from Zillow’s June housing report and why home prices keep climbing. Thomas Karam, Equitrans Midstream CEO, talks the company’s debt deal and why he is urging more bipartisan work in Washington to ensure energy security. SGH Macro Advisors Chief U.S. Economist Tim Duy looks ahead to this week’s important inflation read and the upcoming Fed decision. Plus, ON Semiconductor Hassane El-Khoury joins after the news that the company is joining Nasdaq-100 index next week.

Transcript

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0:00.0	More games for stocks today with the S&P touching a new 13 month high.
0:03.7	That is the scorecard on Wall Street for the actions just getting started.
0:07.6	Welcome to Closing Bell overtime.
0:08.8	I'm Morgan Brennan with John Ford coming up this hour.
0:11.6	We'll talk to the CEO of Equitrans midstream. That's the
0:14.8	energy pipeline company that got a huge boost thanks to a provision in the debt
0:18.7	ceiling deal to speed up permits to his first TV interview since the passage of that bill.
0:24.0	Plus, we're awaiting breaking earnings from 300 billion dollar software giant oracle,
0:30.0	which closed hired today on the back of an upgrade from Wolf research.
0:33.2	We'll bring you those numbers and expert analysis as soon as they cross.
0:37.4	We're two days away from another interest rate decision by the Fed.
0:42.1	This is the Com Before the Storm, John,
0:44.0	with the S&P 500 up 5% in the past month.
0:46.8	Bulls are firmly in charge.
0:48.5	Welcome back, first of all.
0:49.8	Thank you.
0:50.5	Yeah.
0:51.5	So, yeah. So I think we need to start right there with the markets because we do have a very big hour
0:57.0	We are awaiting those earnings from Oracle so let's talk a little bit about that. We've got a Bull Bear debate to kick off this hour.
1:04.0	Our Bear, Eric Johnston, Kanta Fitzgerald, head of equity derivatives and cross assets, and our bull,
1:10.0	Jack Ablin, Cresset,, Founding Partner, and CIO.
1:13.6	Good afternoon to you both.
	...

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