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Closing Bell

Closing Bell Overtime: Dow Jones Notches Another Record Close 8/27/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 27 August 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

From the open to the close, “Closing Bell” and “Closing Bell: Overtime” have you covered. From what’s driving market moves to how investors are reacting, Scott Wapner, Jon Fortt, Morgan Brennan and Michael Santoli guide listeners through each trading session and bring to you some of the biggest names in business.

Transcript

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0:00.0

That's the end of regulation. Summit Global Investments, ringing closing bell at the New York Stock Exchange and Investopedia doing the honors at the NASDAQ.

0:07.0

The major average is range-bound today, but plenty of movement under the surface as attention turns to Invidios

0:12.9

report tomorrow.

0:14.4

Waiting for stocks to settle here,

0:15.7

we might have a new record closed for the Dow,

0:17.6

but it's on the cusp.

0:19.8

That's the square card on Wall Street,

0:21.2

but the action's just getting started. Welcome to Closing Bell overtime. I'm Morgan Brennan. John Fort is off today.

0:26.0

Ahead this hour, reads on retail and tech when we get earnings results from Nordstrom,

0:30.8

PVH, Box, umbrella, and Cybersecurity Firm Sentinel 1.

0:35.0

Plus, we will hear from the CEO of Mining Giant, the largest miner in the world, VHP,

0:40.0

about why he's bullish on a rebound in China's property sector and we are looking ahead

0:45.8

to the main event of the week.

0:48.0

Invidia earnings, those are 24 hours away.

0:51.4

They'll be happening right here on overtime as all of Wall Street

0:54.6

awaits to see if Jensen Huang's team can top expectations. But first, let's bring in

0:59.9

our market panel. Vital Knowledge founder Adam Chrysifouli and Main Street research

1:03.3

C. I'm going to you first I mean we are we're just swinging back and forth

1:09.9

here in this very tight range it does look like we're getting a new record high for the Dow though. So what does that tell us about this rotation we have seen in the market as the market becomes more and more confident that September is already in the books for rate cuts and a real

1:25.1

pivot is actually a foot here for the Fed. I think you've had three buckets of

1:30.3

really favorable news flow for the last several weeks that kind of

1:32.8

help propel us back to where we are now. You had Goldilux data, meaning that you've

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