Closing Bell Overtime: Commerce Secretary On AI Executive Order; What Apple Means This For The Market 10/30/23

Closing Bell

CNBC

Business, News

4.4 • 139 Ratings

🗓️ 30 October 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Major rally in stocks today as well S&P sector closed higher. iCapital’s Anastasia Amoroso and Wells Fargo’s Sameer Samana break down the market action and the week ahead. Morgan sits down with Commerce Secretary Gina Raimondo in an exclusive interview after President Biden signed the first AI executive order. Earnings from Pinterest, Wolfspeed, Chegg, VFC and Simon Property Group. Apple is hosting a special event this week and reporting earnings on Thursday; Melius analyst Ben Reitzes breaks down what is riding on the tech giant this week. Our Phil LeBeau breaks down the UAW’s deals with automakers and eToro U.S. CEO Lule Demmissie on retail investors positioning.

Transcript

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0:00.0	500 on the Dow that's the scorecard on Wall Street but winter stay late
0:04.8	welcome to closing bell overtime I'm John Ford with Morgan Brennan.
0:08.0	Well coming up on today's show an exclusive interview with Commerce Secretary
0:11.7	Gina Raimundo as the
0:13.3	Biden administration issues the country's first executive order on
0:16.4	artificial intelligence. Plus we're exactly halfway through earning season and
0:20.8	we'll get a wide range of results this hour from names like
0:23.8	Pinterest Cheg wolf speed v. F Corp and silent property and we'll bring you all the
0:28.5	after-hours action as the numbers roll in and we're looking ahead to
0:32.0	a crucial week for Apple which was higher in today's rally, but is
0:35.4	sitting about 15% below its 52-week highs.
0:38.6	We'll talk about tonight's product event as well, which is just hours away and preview
0:42.4	Thursday's earnings.
0:44.0	We begin though with the market and a big rally to kick off a key week of catalysts including
0:48.0	those Apple earnings, a Fed meeting in the October jobs report.
0:50.8	The Down S&P 500 logging their first positive day and four
0:53.6	communication services and financials leading the gains today which were pretty
0:58.6	broad-based let's bring in see and be seen senior markets commentator Mike, Mike, there's lots to point to here, including the fact
1:06.0	that you did have this Treasury quarterly borrowing estimate that came in a bit lighter
1:10.0	than feared.
1:11.0	I realize that's going to be a big focus in addition to the Fed you guys
1:13.4	were just talking about it in the last hour on Wednesday as well but we've
	...

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