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Closing Bell

Closing Bell Overtime: Exclusive Interview With Amazon CEO Andy Jassy On AI, Inflation, Competition With Temu & More 7/6/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 6 July 2023

⏱️ 55 minutes

🧾️ Download transcript

Summary

Averages closed lower again. Richard Bernstein Advisors’ Dan Suzuki and Vital Knowledge’s Adam Crisafulli break down the market action. Jon is in Seattle at Amazon HQ for an exclusive interview with CEO Andy Jassy covering AI, the consumer, inflation, supply chain and much more. Plus, previewing tomorrow’s important jobs report.

Transcript

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0:00.0

Well, see of red for the major averages today, though, off the lowest levels of the session.

0:05.4

This is Treasury Yields spike on hotter than expected data.

0:08.4

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

0:12.0

Welcome to a special edition of Closing Bell overtime.

0:15.0

I'm Morgan Brennan.

0:16.0

John Fort is in Seattle.

0:18.0

He's going to join us in just a moment for a can't miss

0:21.0

exclusive interview with the CEO of Amazon.

0:24.8

Andy Jassy covering everything from the consumer to the cloud and AI

0:28.2

and so much more.

0:29.4

But let's get straight to today's market action.

0:31.6

And there was action.

0:32.8

Joining us now is Adam Chrisofooli from Vital Knowledge and Dan Suzuki from Richard Bernstein

0:36.5

Advisors.

0:37.5

Good afternoon to you both.

0:38.5

Dan, you're here on set with me.

0:40.8

What we saw today, I mean, really the big story here was higher than expected data from ADP this morning.

0:46.4

You also had ISM services showing an ongoing expansion and he saw a spike in Treasury yields.

0:51.6

Where do we go from here?

0:53.2

Well, I don't think, I think it's probably an overreaction,

0:55.1

to be honest.

0:55.6

I mean, I think there's nothing new.

...

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