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Closing Bell

Closing Bell Overtime: Dow’s Best October Ever 10/28/22

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 28 October 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

It was the best October ever for the Dow … so what might that mean for your money and what will work best in this new market environment? NewEdge’s Cameron Dawson, Firstmark’s Rick Heitzmann and AJ Oden of BNY Mellow give their expert takes. Plus, Elon Musk has taken control over Twitter and is already cleaning house. We debate what the future of that company could be. And, one of Barron’s top financial advisors Cheryl Young of Rockefeller Global Family Office breaks down the sectors she is recommending to her high-net-worth clients. 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

Welcome to overtime everybody. I'm Scott Wapner. You just heard the bells, the big

0:03.5

cheers of course. We're just getting started from Post Nine here at the New York Stock Exchange.

0:08.1

Coming up, we have a big interview you cannot afford to miss. Fed Whispera, Nick Timorosa, the Wall Street Journal, he will join us.

0:15.2

He'll tell us what's likely to happen at next week's all important meeting and even more

0:19.6

importantly in December and beyond. We begin though with our talk of the tape,

0:24.0

the best October ever for the Dow,

0:26.0

and what it might signal about where your money will work best

0:29.0

in this new market environment.

0:31.0

Let's ask Cameron Dawson of New Edge Well, she's here with me on set.

0:35.1

It's great to see you.

0:36.1

Welcome back.

0:37.1

Unbelievable move that we had in the market.

0:38.9

I'm curious, your thoughts, given you've been more negative than a lot of others.

0:42.3

Yes, so when we talked a few weeks ago,

0:44.2

we thought it was very dangerous to be too short or too negative in this market

0:48.5

simply because we got so oversold moving too far too fast

0:52.3

to the downside, and it meant that we were

0:54.3

really prime for some kind of relief rally and then to see the market rally so

0:59.0

much on today's kind of very weak news from the tech names showed you that there is

1:04.3

still more buying, still more positioning to kind of get just back to

1:07.8

neutral after people got so short. So we think that this rally could continue.

1:12.0

First level to get through is to 3,900.

...

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