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Closing Bell

Closing Bell Overtime: Former Cleveland Fed President Loretta Mester On What’s Next For The Fed; Top CEO Worries in 2025 1/15/25

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 15 January 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

We kick off the hour talking markets with Victoria Greene of G Squared Private Wealth and Ohsung Kwon of BofA Securities, analyzing today’s key trends. Our Leslie Picker provides critical takeaways on banks, setting the stage for tomorrow’s earnings. Former Cleveland Fed President Loretta Mester shares her take on CPI data, the Beige Book, and Fed policy, while Evercore ISI's Krishna Guha offers a deep dive into market strategies. Simon Freakley of AlixPartners discusses CEO priorities and challenges in 2025, including their biggest worries. Our Diana Olick reports on how LA wildfires are driving demand in the REIT sector, with insights into upgrades and trends for key players like Essex and Avalon Bay.

Transcript

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0:00.0

That bell marks the end of regulation. Consolidated Edison ringing the closing bell at the New York Stock Exchange, Charlton ARIA Acquisition Corporation doing the honors at the NASDAQ.

0:09.3

Stocks closing out their best session since the day after the election.

0:13.3

The Bulls breathing a sigh of relief as inflation heads in the right direction and banks kickoff earnings season on a high note.

0:19.3

That's the scorecard on Wall Street, but winners stay late.

0:21.8

Welcome to closing down overtime.

0:23.0

I'm John Ford with Morgan Brennan.

0:24.5

Well, coming up this hour, Cleveland Fed President Loretta Mester, gives us her first take on

0:30.4

today's inflation print and what it means for the Fed's timetable.

0:34.3

Plus, Evercore ISIs Krishna Guha on the market reaction and where he thinks

0:38.5

stocks head from here. And we'll talk about the big moves for bank stocks. And look ahead to reports

0:44.1

coming tomorrow from Bank of America and Morgan Stanley. Let's get straight to the market.

0:48.4

And this rally with G-square Private Wealth, CIO and CNBC contributor, Victoria Green,

0:53.1

and B of A Securities Director of Equity Strategy,

0:56.0

O'Sung Kwan. Guys, good afternoon. Victoria, you're generally positive on the markets, especially,

1:02.1

I guess, after this cooler CPI print, we can look at fundamentals, you say, but on earnings,

1:08.0

you say afternoons have been rally killers. Here we sit in overtime in the afternoon.

1:14.1

What do you mean? I was so happy to see the rally hold. The January has been ugly in the

1:18.7

afternoons, right? We've had so many mornings start off on a bright note and then I don't know.

1:23.1

Would Marcus take a break at lunch and don't come back or something? But we've seen these rallies

1:26.3

tail off time and time again this year. So for me today, it was so nice. We had that midday dip

1:31.3

and I was like, oh my goodness, here we go again. You know, S&P almost downed like 1% gains.

1:36.3

And so to see it rally out, I think that's a huge sign of confidence in this rally is still intact. And we finally had earnings to focus on, not macro, not Fed speak, not politics.

...

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