Closing Bell Overtime: Believe the Bounce? 05/23/22
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 23 May 2022
⏱️ 44 minutes
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| 0:00.0 | Welcome everybody to overtime. I'm Scott Warpney. You just heard the bells. We right here just getting started. |
| 0:05.0 | In just a few minutes we'll get Zoom's latest earnings report, a real-time temperature check on those once high-flying tech stocks. |
| 0:11.0 | We will have the color, the instant reaction and of course everything |
| 0:14.4 | you need to know about that we do begin though with our talk of the tape the bounce. |
| 0:19.0 | Whether it can last for more than a day or two that's what it's come to all we're asking is for a day or two. That's what it's come to. |
| 0:23.0 | All we're asking is for a day or two. |
| 0:25.1 | Let's ask Liz Young, so-by's head of investment strategy. |
| 0:27.8 | It's good to see you. |
| 0:29.4 | We're shell-shocked, so we'll take it thus far. |
| 0:31.8 | But you hear me on that though, right? |
| 0:33.4 | Like you get where I'm coming from. |
| 0:35.0 | I do. |
| 0:36.0 | And you know, we're coming off of four straight weeks where we had at least one day a week |
| 0:40.2 | with more than a 3% drawdown in the S&P. |
| 0:42.6 | So it feels great to have an update like this, |
| 0:45.1 | but it also feels like the whipsaw continues. |
| 0:47.7 | So if I want to try to make a bull case, |
| 0:50.1 | the bull case is that we'll have rebalancing that will happen in the middle of the year. |
| 0:54.0 | That should cause an inflow into equities. |
| 0:56.7 | We have hopefully confirmation that we aren't in a recession. |
| 1:00.1 | We'll have inflation that will cool. |
| 1:01.9 | The problem is we won't have any of that until late June, early July. |
... |
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