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Closing Bell

Closing Bell Overtime: Could Blackrock’s Bitcoin ETF Be Bad For Crypto? Plus The Unintended Consequences of the FTC’s War On Big Tech 6/22/23

Closing Bell

CNBC

News, Business

4.4140 Ratings

🗓️ 22 June 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

The S&P 500 and Nasdaq snap three-day losing streaks. BD8 Capital’s Barbara Doran and Citi’s Scott Chronert break down the market action, plus a discussion on why the regional bank ETF KRE is falling again. Is Blackrock’s bitcoin ETF a wolf in the henhouse? Morgan Creek’s Mark Yusko discusses if it is good or bad for the cryptocurrency. Betterment CEO Sarah Levy on where retail is positioned. Nuveen’s Carly Tripp on under-the-radar opportunities in the real estate sector. Plus, Cleo Capital’s Sarah Kunst on how the FTC’s big tech battle impacts small tech firms.

Transcript

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0:00.0

Yeah, the S&P and NASDAQ snapping a three-day losing street.

0:05.1

And the Dow, about as close to flat as you get.

0:07.8

That's the scorecard on Wall Street, but winter stay late.

0:10.0

Welcome to closing Dell overtime.

0:11.3

I am John Fort with Morgan Brennan and coming up we will discuss

0:14.9

Bitcoin's big rally this year and how Black Rocks bid for a Bitcoin ETF could impact

0:21.3

cryptocurrencies with Morgan Creek capital CEO Mark Isko.

0:25.8

And home building remains red-hot despite the rise in interest rates.

0:30.5

Nuevene real estate's global CIO tells us where she sees the

0:34.7

biggest opportunities in that sector. And now let's get straight to the market

0:37.7

action. Joining us is BD8 capital founder Barbara Duran and City

0:42.2

U.S. Equity Strategist Scott Kronert.

0:44.3

Guys, welcome.

0:45.3

Scott, we've got just over a week left in this month.

0:50.1

Really, I guess in the first half of the year and you've got a 4,000 target for the

0:56.2

S&P for end of year which would be down about 9%.

0:59.8

What are the adjustments that investors should be thinking about making here?

1:04.6

Do you rebalance and shift gains to fixed income or international or smaller caps?

1:10.5

Do you raise cash?

1:12.0

Or do you just sit on your hands?

1:13.0

Well it's a good question John so our normalized earnings yield analysis tells us that

1:17.8

bonds actually look more attractive than stocks at this point but you know I

...

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