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Closing Bell

Closing Bell Overtime: Dow’s losing streak, Nvidia buying opportunity & To Cut, or not to cut 12/17/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 17 December 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Today’s show features a market panel with Bespoke Co-Founder Paul Hickey & iCapital Chief Investment Strategist Anastasia Amoroso on the Dow’s 9-day losing streak, its longest since 1978 and whether this is a buying opportunity or a warning sign for the market. The once red-hot stock Nvidia closing lower for the 8th time in 9 days. Bank of America Securities’ Vivek Arya on whether now is the time to buy that dip. BMO Capital Markets Evan David Seigerman reacts to Pfizer’s encouraging 2025 guidance. The CEO of Defense Contractor Parsons on the outlook for her industry under the incoming Trump Administration. And SGH Macro Advisors Chief U.S. Economist Tim Duy on whether he thinks the Fed should cut interest rates tomorrow.

Transcript

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0:00.0

That's the end of regulation. X-Trackers by DWS, ringing the closing belt, the New York Stock Exchange,

0:05.0

Lobshit, Lobsack company, not Lobsack, doing the honors at the NASDAG. The Dow finishing lower for the

0:11.6

ninth straight session. This is the longest losing streak since 1978 for the Dow Industrials.

0:17.4

As attention turns to tomorrow's Fed decision, that's the scorecard on Wall Street, but the action

0:22.1

is just getting started. Welcome to closing bell overtime. I'm Morgan Brennan with John Ford.

0:26.4

And coming up on today's show, InVIDIA falls deeper into correction territory. We'll ask an analyst

0:31.3

if this is the buying opportunity you've been waiting for or if more pain is ahead.

0:35.1

Plus, a number of big moves in the pharma space today, including a pop for Pfizer and a 25%

0:40.3

surge for another big player.

0:42.3

We're going to discuss the best buys in the space heading into your end.

0:46.3

And an under the radar defense winner.

0:49.3

Shares of Parsons are up more than 50% this year, but will the Department of Government

0:53.3

Efficiency put the

0:54.6

brakes on that rally? Parsons CEO joins us to discuss.

0:58.3

And let's get straight to the market action with I Capital Chief Investment Strategist,

1:02.2

Anastasia Emeroso, and Bespoke Investment Group co-founder Paul Hickey.

1:06.6

Welcome to you both.

1:07.9

Another down day for the markets.

1:09.7

Anastasia, I'm going to start with you.

1:11.2

We've had poor breath. We've got what's expected to be a, I'll say, hawkish-fed pivot, or at least a slowing pace of easing with the FOMC rate decision tomorrow.

1:21.4

You've got sentiment and positioning that's particularly frothy and then risks factoring into the market around what Trump 2.0 is going to mean

1:29.5

here for stocks. Yeah. How do you see 2025? Well, 2025 is definitely a positive story. And I can talk

...

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