Closing Bell Overtime: Are Investors Too Rosy On China? And Why Pfizer’s New Weight Loss Drug Could Unseat Ozempic 5/22/23
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 22 May 2023
⏱️ 44 minutes
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| 0:00.0 | There's a scorecard on Wall Street to mix bag, but winter stay late. |
| 0:04.4 | Welcome to closing down overtime. |
| 0:05.8 | I am John Fort with Morgan Brennan and coming up this hour, Rockefeller International Chairman |
| 0:10.6 | Roushear Sharma is going to join us with a warning on China as tensions |
| 0:14.8 | ramp up with the US after the country called Micron a major security risk. |
| 0:19.7 | Plus we're awaiting earnings results from Zoom video, |
| 0:22.8 | the poster child of pandemic stock gainers, |
| 0:25.7 | still down sharply from its COVID peak, |
| 0:27.6 | but it has gained momentum in the past few weeks. |
| 0:30.0 | But first, let's get right into the market action stocks somewhat range-bound as |
| 0:34.8 | investors wait for news on the debt ceiling. Joining us now is Darrell Kronk, |
| 0:39.4 | Wells Fargo, CIO for Wealth and Investment Management and Ross Mayfield, Baird Investment Strategy |
| 0:45.6 | analyst. Welcome guys. Darryl, it looks like the market is pricing in the |
| 0:51.3 | perfect scenario. Softish landing, 70% likelihood of rate cuts in |
| 0:57.0 | Q4 though. Very little concern about this debt ceiling standoff that's kind of |
| 1:01.0 | an oncoming train but you're not quite so |
| 1:04.7 | sanguine about at all. |
| 1:07.0 | Yeah I think that's right John I mean when you look at the stock market it's |
| 1:10.7 | pricing in you know higher highs so is the volatility market when you |
| 1:14.6 | check out the Vicks or the move index but the bond market tells a very |
| 1:17.7 | different story and I think the data underneath tells a real different story |
| 1:20.8 | we all know about how narrow the leadership's been in the |
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