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Closing Bell

Closing Bell Overtime: Big Win for the Bulls? 2/3/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 3 February 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

After a big week for the markets – the question remains: did the bulls get the leg up they were looking for? John Mowrey of NFJ Group gives his take. Plus, big tech shareholder George Seay weighs in on the state of the sector after a parade of earnings. And, market expert Mike Santoli’s Last Word as we head into a fresh week of trade. 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

All right, sir, thank you very much.

0:03.0

Welcome everybody to overtime.

0:04.6

I'm Scott Wopney, you've just heard the bells.

0:06.1

We're just getting started from right here, Post 9,

0:08.0

at the New York Stock Exchange.

0:09.8

Coming up, we are going to have a look back

0:11.9

at one of our most memorable moments.

0:14.4

The brawl that started it all.

0:16.0

ICON versus Ackman, can you believe 10 years later?

0:19.8

I spoke with Mr. I can today.

0:21.5

I'll tell you what he told me about that shocking day a decade ago.

0:25.0

That's coming up in just a bit. We do begin though with our talk of the tape.

0:28.0

The state of the rally with the biggest week of this early year now in the books. Did the Bulls get a leg up?

0:34.5

The one they were looking for? Let's ask John Maury. He's an FJ group's chief

0:38.9

investment officer with me here at Post 9. You are one of the Bulls. I I have a bowl did you get a leg up this

0:44.6

week this is what we expected there were a handful of things that were

0:48.8

really culminating in the rally that we've seen at the end of last year you have the highest cash balances on

0:54.9

mutual funds on record. You have the most people calling for a recession since 20,

0:59.1

okay, and since 2011. You had commercial hedgers the most short equity futures going back to 20,

1:06.3

2011, Operation Twist, as well as 09. So since it was washed out.

1:10.5

So you're playing the contrarian card.

1:12.1

Well, nobody wanted these equities and

...

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