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Closing Bell

Closing Bell Overtime: Anduril Co-Founder On Raising A New Round; Claudia Sahm On If Sahm Rule Is Being Overused 8/14/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 14 August 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Anduril co-founder Trae Stephens talks the company’s new factory and its latest funding round. Former Fed economist Claudia Sahm on if her rule, the Sahm rule, is being overused by investors right now. Plus, The Hartford CEO Christopher Swift on the continued rise in insurance costs and our Phil LeBeua gives the latest on the Southwest activist battle with Elliott Management.

Transcript

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0:00.0

That's the end of regulation.

0:03.8

Parker Hanna's been closing the closing bell

0:06.4

at the New York Stock Exchange.

0:07.6

Trans Cat doing the honors at the Nasdak.

0:10.6

The Dow jumping and small caps pulling back after another cooler inflation print showed price growth falling below 3% for the first time since 2021.

0:19.0

That is the scorecard on Wall Street, but the action is just getting started.

0:23.0

Welcome to Closing Bell overtime.

0:24.3

I'm Morgan Brennan.

0:25.3

John Ford has the day off.

0:26.8

Well, coming up this hour, it's a big hour.

0:29.4

The creator of the much-cited Somme Rule. Claudia Somme joins us with her reaction

0:34.0

to the latest economic data,

0:35.6

and if she thinks a recession is on the horizon.

0:38.4

Plus, we will be joined by Trey Stevens,

0:41.2

the co-founder and executive chairman of Andral, the Red Hot Defense

0:44.7

Tech unicorn that just raised another $1.5 billion in a series F round.

0:50.3

And we're awaiting breaking news this hour, including earnings from Tech conglomerate,

0:54.8

Cisco and a possible wave of 13F filings,

0:58.4

outlining major positions of some of the biggest players

1:01.5

on Wall Street.

1:02.2

But first, let's break down today's action

1:04.4

with our panel.

...

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