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Closing Bell

Closing Bell Overtime: Dow Record Close; Black Eye For Boeing; Mohamed El-Erian On The Fed 8/26/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 26 August 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

The Dow posted its first record close in over a month after last week’s Jackson Hole conference. Allianz’s Mohamed El-Erian breaks down the key messages from Powell and the Fed. G Squared’s Victoria Greene and Carson Group’s Ryan Detrick on today’s tech laggards and the rest of the market. Boeing announced SpaceX will bring home its astronauts; Jefferies analyst Sheila Kahyaoglu on what it means for the stock. Plus, Payoneer CEO John Caplan on consumer spending.

Transcript

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0:00.0

A little excitement on this August Monday of the new record for the Dow a new

0:04.4

closing record high that's the end of regulation US physical therapy ringing the

0:08.2

closing belt in New York Stock Exchange work medical technology group doing

0:11.9

the honors at the NASDAQ.

0:13.4

Just said it. A record closing high for the Dow. This is the first time since mid July and

0:18.2

a slide for the NASDAQ. That's dragged down in part by NVIDIA ahead of Wednesday's results.

0:23.4

That's a scorecard on Wall Street, but the action's just getting started.

0:26.4

Welcome to a closing bell over time.

0:28.2

I'm Morgan Brennan. John Ford is off today.

0:30.5

Well, coming up, Alleon's chief economic advisor, Mohammed Al-Aryan joins us with his first thoughts

0:36.6

on Fed Chair Powell's Jackson Hole speech and if the market is interpreting Powell's message

0:41.5

the wrong way.

0:43.0

Plus, another black eye for Boeing.

0:45.5

Well, NASA says the stranded astronauts

0:47.0

on the International Space Station

0:48.4

will return to Earth on board a SpaceX spaceship rather than Boeing starliner we will talk about what

0:55.6

that fallout could mean for Boeing shareholders but first let's bring in our

1:00.0

market panel g-square private wealth ci-cio Victoria Green and Carson Group chief market strategist our market

1:04.1

private wealth, C. I.

1:05.1

C chief market strategist Ryan Dietrich.

1:07.6

Great to have you both here. Next day for the markets, to be sure.

1:10.1

Not major moves in either directions, though.

...

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