Closing Bell Overtime: Dismal Year for Stocks 12/30/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 30 December 2022

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

The 2022 trading year is officially in the books. After one of the worst performances on record for stocks, where do we go from here? Professor Jeremy Siegel of the Wharton School gives his expert market opinion. Plus, NewEdge’s Cameron Dawson is calling 2022 “the year the bubble died.” She explains and gives her forecast for next year. And, Mike Santoli’s Last Word of the year! He tells us why stocks’ disappointing performance could actually be a good thing for investors. 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,
0:01.0	Thank you very much, and welcome everybody to overtime.
0:03.0	I'm Scott Wopner, you just heard the bells.
0:04.6	We're just getting started from Post-9 here at the New York Stock Exchange as we mark the end of
0:08.5	a long and hard year for your money.
0:10.7	In just a little bit, I'll speak to Cameron Dawson of New Edge Wealth, who's been on the right side of this market all year long.
0:16.0	So I'll ask her what's likely to happen now as we welcome in 2023.
0:20.0	That is our talk of the tape, of course, after one of the worst performances on record for stocks.
0:25.0	Where do we go from here? Let's ask someone who's watched and navigated up and down markets for decades.
0:30.0	Professor Jeremy Segal of the Wharton School.
0:33.0	Professor, welcome.
0:35.0	Happy New Year.
0:37.0	Happy New Year.
0:38.0	Let's hope the new year is better, Scott.
0:39.4	I think it will be.
0:41.2	Tell me why you think so.
0:42.2	Well, I've never seen so much bearishness.
0:47.3	There's never been a time when, what, you know, 60% of economists forecast a recession.
0:55.0	And when everyone's on one side, I get very wary.
0:59.0	I think there might be some really surprises next year. Let me tell you,
1:05.0	2,22 was marked by very good job growth
1:10.0	and very poor GDP growth and very poor productivity growth.
	...

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