Closing Bell Overtime: Chip Rally Takes a Breather But Markets Stage Midday Turnaround 6/4/26

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 4 June 2026

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Investors look beyond semiconductors and ask whether the rest of the market can carry the rally forward. Charles Kantor of Neuberger weighs whether leadership can broaden beyond AI and chips and identifies where investors may find the next opportunities. Lululemon headlines earnings. Janine Stichter of BTIG reacts to the results. Other stories include Blackstone restricting withdrawals from a flagship fund, pressure on Netflix, and whether Bitcoin may finally be finding a bottom. Our Pippa Stevens reports on the spread of flesh-eating parasites from Texas while Elanco Animal Health CEO Jeffrey Simmons discusses the risks to agriculture and livestock. Our Leslie Picker examines Wall Street's growing obsession with SpaceX and what it means for private markets. The show also explores Coinbase's move into perpetual futures tied to pre-IPO companies. John Kolovos, Head of Technical Strategy at Macro Risk Advisors, breaks down market internals and explains what the charts are saying about the rally's durability.

Transcript

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0:00.0	The bell is bringing in to the trading day at the NYSC, room to grow, ringing the bell and at the NASDAQ. The CEO of today's big IPO, Continuum, is doing the honors. Welcome to closing bell overtime. We're live from studio at the NASDAQ market site. I'm Melissa Lee, along with Mike Santoli. The Dow up with a big gain, 900 points, 1.8%. That's a record close. The SB 500 up about half a percent. the Nazak right near the flat line.
0:24.4	The Russell added The Dow up with a big gain, 900 points, 1.8%. That's a record close.
0:22.7	The SMB 500 up about half a percent.
0:26.9	The NASAC right near the flat line, the Russell adding more than one and a half percent.
0:30.7	On our radar at the close, Lulu Lemon earnings due out in moments.
0:34.7	We're also watching for results from several software names, including DocuSign.
0:38.4	And we'll bring you the latest on the SpaceX IPO Roadshow as we're about a week away from that deal's pricing. And the flesh-eating parasite, everyone is talking about.
0:44.9	How big a threat is the screw worm? We're going to ask the CEO of Elonco, Animal Health.
0:51.1	Yeah, the big, everybody's talking about it. It's not the latest YouTube horror
0:54.9	series. The big story for the markets, a change in leadership, at least for today, tech
0:59.7	tumbles on Broadcom. United Health leaves health care, credit card stocks, whose financials. The
1:04.9	pullbacks, though, that we saw within the tech sector might seem pretty rational. Mostly
1:09.5	semiconductors.
1:12.0	Software was actually hired today.
1:16.5	Surgical weakness in the likes of Broadcom, Micron, AMD.
1:20.1	And then you have the S&P healthcare sector of 3%. Right?
1:20.3	What that tells you is, and there's no real news there, this is not about a macro shift
1:24.6	that got people out of semis and into health care.
1:27.1	It is the market reacting
1:28.7	to its own extremes of outperformance by semis and trying to rebalance itself that way. It's healthy
1:34.2	if it can continue that way. I mean, I think you have to say S&P up 20% from the intraday low,
1:38.8	March 30th. The risk reward has to be a little bit more mixed looking out ahead. Summertime.
	...

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