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Closing Bell

Closing Bell Overtime: Former NEC Chief Economist On Trump 2.0; Early Real-Time Data On Holiday Shopping 11/27/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 27 November 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Neuberger Berman portfolio manager John San Marco gives his top retail picks for the holiday season. Former NEC Chief Economist Joe Lavorgna on what to expect under Trump 2.0. Tony Fadell, new Ledger board member, and Pascal Gauthier, Ledger CEO, on making a hardware product for digital currencies. Zeta Global CEO David Steinberg on early data signals from shoppers on what will win this holiday season.

Transcript

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0:00.0

That bell marks the end of regulation.

0:02.1

The Salvation Army ringing the closing bell through New York Stock Exchange,

0:05.8

Lakeside Holding Limited, doing the honors at the NASDAQ,

0:08.6

and a mostly lower finish for the major averages ahead of the holiday break.

0:13.3

As tech drags on the NASDAQ, while real estate, health care, and crypto get a boost.

0:18.4

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

0:21.4

closing bell overtime. I'm John Fort. Morgan Brennan is off today. Coming up this hour,

0:26.5

former Trump National Economic Council Chief Economist Joe LaVorne joins me with his first read on today's

0:33.8

inflation report and how tariff and immigration policy might impact prices under Trump 2.0.

0:40.1

Plus, Newberger Berman's consumer portfolio manager lays out his top retail picks into year-end,

0:45.8

and Bitcoin prices on the upswing again today after dipping earlier this week.

0:50.4

And we'll talk to Tony Fidel, godfather of the iPod, about his latest crypto venture,

0:55.2

bringing more physical hardware to the digital currency world. Well, let's begin, though,

1:00.1

with the market action. Joining me is BD8 Capital Partner, CEO, Barbara Duran, and Crossmark

1:05.0

Global Investment CEO, Bob Dahl. Guys, happy Wednesday, Barb. So we got the PCE data this morning. I'm not sure there were

1:12.7

many big surprises there. I haven't talked to you for a while because you've been in New Zealand.

1:17.1

So tell me everything that's happened and a lot has since, anything changed your market

1:21.7

outlook at all? Is it steady as she goes? No, my market outlook has not changed. I mean,

1:27.1

you saw the PCE number. It's kind of been

1:28.9

stuck. The core PCE around 2.7% for about six months. So, you know, you're hearing the Fed say

1:34.9

more about it's not going to ease as quickly as people might have expected. But the market is,

1:39.4

is absorbing that and seems to be okay. The big, the new uncertainty is really about tariffs. I mean, the Fed, I think,

...

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