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Closing Bell

Closing Bell Overtime: Behind Stocks’ Recent Resiliency 06/02/22

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 2 June 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

Stocks continued to bounce in today’s session, despite hawkish Fed speak … but how long can the resiliency really last? Hightower’s Stephanie Link gives her expert take. Plus, instant analysis to Lululemon and Crowdstrike earnings results. And, Mike Santoli with his “Last Word” on what the market is “wishing and waiting” for ahead of tomorrow’s key jobs data. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

Sarah, thanks so much. Welcome everybody to overtime. I'm Scott

0:03.3

Warkney, you just heard the bells. We're just getting started right here and

0:06.0

we are packed today. Earnings from Lulu and R. H. and crowd strike dropping any

0:10.3

moment now. We will also speak to Star Tech analyst Dan I's on the

0:14.4

Microsoft guide down to see what it really means to your money. Right now though

0:18.5

we begin with our talk of the tape. The sudden, dare I say it,

0:21.8

resiliency of the stock market, which not only brushed aside

0:25.5

hawkish comments from J-Pow's co-pilot today, but that buzzkill from Microsoft.

0:30.0

So what does that say about the state of this bounce?

0:32.8

Let's ask Stephanie Link, High Towers,

0:34.5

Chief Investment Strategist and portfolio manager,

0:37.0

of course a member of the Half-Time Investment Committee

0:40.0

as well.

0:40.6

I mean, you had a number of reasons why you could have gone down today and initially

0:44.4

you did but I don't know is the resiliency the right word to use?

0:49.0

I don't know about that.

0:50.0

I think it's true.

0:51.0

I don't know.

0:52.0

Maybe for today. Right. It felt good today. That's the kind of market we're in. That's the kind of market we have.

0:57.0

That's the kind of environment that we are in. We have a lot of unknowns out there. We've talked

1:01.5

about them, inflation and the Fed and war and China,

1:04.6

is it reopening, is it not? All of these things, so I think as a result we're in this trading

...

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