Closing Bell Overtime: A Huge Rally On Wall Street; We Break It Down From Every Angle 11/14/23

Closing Bell

CNBC

Business, News

4.4 • 141 Ratings

🗓️ 14 November 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

We have you covered from every angle on a huge rally on Wall Street. Bespoke’s Paul Hickey on some of the big movers but Rich Weiss, American Century Investments CIO of Multi-Asset Strategy Group isn’t convinced on the rally. Neither is Rosenberg Research’s David Rosenberg, who gives a few reasons to remain cautious. On the other side, Piper Sandler’s Craig Johnson says keep buying as there is more upside ahead. Plus, our Kristina Partsinevelos on what moves the biggest players in the market are making.

Transcript

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0:00.0	And what a day it's been green across the screen as the Bulls take charge
0:05.3	following a softer inflation print. It's best day for the S&P since January
0:09.4	that is the scorecard on Wall Street, but the action is just getting started.
0:13.0	Welcome to Closing Bell overtime.
0:14.2	I'm Morgan Brennan.
0:15.3	John Fort is on assignment today.
0:17.1	We have got full coverage of the rally throughout today's show.
0:21.0	We're gonna take a technical look at the next key levels to watch
0:24.1	when we're joined by Piper Sandler Chief Market technician Craig Johnson plus
0:28.1	Rich Weiss from American Century which has about 200 billion dollars under management breaks down his
0:35.1	take on if this rally is sustainable and will politics put the breaks on the
0:40.9	bulls we're expecting a vote in the House of Representatives
0:43.8	this hour on a continuing resolution to avoid a government shutdown, a CR that might
0:49.1	be a little different than what we've seen in the past. Let's get straight to this
0:51.5	major rally sparked by a cooler
0:53.3	than expected CPI report though. The Dow S&P and NASDAQ jumping today and the
0:57.7	Russell 2000 outpacing them all. Finishing the day up more than 5%. 5.3% today as yields pull back sharply.
1:07.0	Every S&P 500 sector finishing in the green with real estate leading the pack,
1:12.0	regional banks and other hard-hit parts of the market,
1:14.8	spiking today as well.
1:16.6	Joining us now is Paul Hickey from Spoke Investment Group and CNBC Senior Economics
1:20.8	reporter, Steve Leisman, Steve, I'm going to go to you first because we had a
	...

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