Closing Bell Overtime: Brutal End to Rollercoaster Week 10/7/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 7 October 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks ending a volatile week in the red – so what should investors do next? Ritholtz Wealth Management’s Josh Brown gives his take. Plus, Charles Schwab’s Liz Ann Sonders reveals her forecast for the rest of the year. And, we break down where investors can find some opportunities amid all of the volatility. 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	Welcome to Overtime, I'm Mike Santoli.
0:02.4	In for Scott Woffner, you just heard the bells,
0:04.8	but we are just getting started here at Post 9.
0:07.7	In just moments, we'll speak with Schwab's chief investment
0:10.1	strategist Liz Ann Saunders, her expert take on today's market drop and what she's
0:15.0	recommending to clients moving forward. But we start with our talk of the tape. A
0:19.7	brutal end to a roller coaster week stocks Stocks selling off in a big way today
0:24.3	with all three major averages finishing deep in the red.
0:27.3	You see the S&P 500 finishing down 2.8% tech,
0:30.8	the epicenter of the selling. Once again with the Nasdak falling a full 3.8%.
0:37.0	Now for the week the S&P 500 did manage to hold on to some of Mondays and Tuesdays
0:42.0	sizable gains finished higher by more than 1%.
0:46.0	We saw notable weakness today in the chips following AMD's profit warning.
0:50.2	More trouble in the transports as well on new reports that FedEx plans to lower its volume
0:54.9	forecast for FedEx ground this holiday season.
0:58.2	Couple of bell weather groups there back on the defensive.
1:00.7	Joining me now to break down all of this, the
1:02.6	CNBC contributor Josh Brown of Redhol's wealth management. Josh, plenty to work with
1:08.6	here. We should start at the at the spot where you know don't fight the fed don't fight the tape you and I talk
1:15.3	about those both those rules both of them are suggesting still maybe make sense to
1:20.8	stay cautious but that works against the idea that are
1:23.6	we supposed to be in the business of buying markets that are down 25% at least for
	...

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