Closing Bell: Overtime: Former Goldman CFO On Rising Rate Environment, Opportunities in AI; Top VC On Prospects For The Rest Of The Year 10/2/23
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 2 October 2023
⏱️ 44 minutes
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| 0:00.0 | Well you got your scorecard on Wall Street, S&P is about flat, Nasdac in the green, but the |
| 0:06.7 | Dow in the red. Winter stay late, welcome to Closing Bell Overtime. I'm John Fort with |
| 0:10.9 | Morgan Brennan and coming up on today's show we're going to speak with |
| 0:14.0 | J.P. Morgan's top rates expert about another jump in yields to kick off the fourth quarter. |
| 0:19.4 | Plus, Bitcoin also having a strong start to Q4. |
| 0:22.4 | We're going to talk to the head of Van Ek ETS about the |
| 0:25.1 | companies just launched Ethereum fund. And former Goldman Sachs, CFO Marty Chavez, now the vice chair of 70 billion dollar investment firm's sixth |
| 0:35.0 | street, joins us with the investment opportunities he's watching in AI. |
| 0:40.3 | But let's begin with rates and the market, the 10-year high is today keeping pressure on the broader market, |
| 0:46.4 | so the Nasak did manage to notch again, |
| 0:49.0 | and it looks like the S&P finished just ever so slightly higher. Let's bring in senior markets commentator |
| 0:55.8 | for CMBC, Mike, I mean 4200 that's the level everybody seems to be |
| 1:01.2 | watching the 200 moving day for the |
| 1:02.8 | S&P where sort of slowly inching back towards that. |
| 1:06.7 | Yeah I mean we've got pretty close with a 1% last week Morgan it's also really |
| 1:12.2 | this area that's been widely watched for a |
| 1:14.3 | while now in terms of it being but formerly the ceiling of a long trading |
| 1:18.3 | range around 4200 we broke above that in early June everyone said soft landing |
| 1:22.4 | for the economy is in store so we're |
| 1:24.6 | testing all those things at once and we'll say the S&P 500 about flat on the day |
| 1:29.3 | in about as uncomfortable a manner as you can get there because you did have the vast majority of |
| 1:34.5 | stocks and volume to the downside you had small caps down a percent and a half so |
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