meta_pixel
Tapesearch Logo
Log in
Closing Bell

Closing Bell Overtime: Global Tech Rout Deepens; Roblox CEO Outlines New Strategies 9/6/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 6 September 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

The slide in tech stocks extended the Nasdaq 100 posting its worst week since July while the S&P 500 had its worst week of the year. We have you covered from every angle, including the market action with Jefferies Chief Market Strategist David Zervos, Kestra Investment Management CIO Kara Murphy and G Squared Private Wealth CEO Victoria Greene. Plus, Dan Niles on what to do with big tech stocks. Roblox CEO David Baszucki talks the company’s growth plan and Samsara CEO Sanjit Biswas on strong earnings.

Transcript

Click on a timestamp to play from that location

0:00.0

All right an ugly end to an ugly week as stocks pull back sharply following this

0:11.0

morning soft jobs report the S&P 500 wrapping up its

0:13.7

worst week of the year the NASDAQ it's worst since 2022 that is the

0:18.0

scorecard on Wall Street but the action is just getting started

0:21.0

welcome to closing bell overtime I'm Morgan Brennan with John

0:23.7

Ford. We're going to be all over this market sell-off throughout the hour also on what

0:27.4

to do next week with a great lineup of guests including tech investor Dan Niles

0:31.2

on the huge pullback for technology stocks this week.

0:34.0

It was led by a nearly 15% drawdown for NVIDIA.

0:37.8

And Apple, outperforming the rest of Tech this week,

0:40.8

and its hardware event is just a weekend away with investors

0:44.8

questioning whether the latest iPhone launch will drive and upgrade

0:47.8

super cycle we will talk about what's at stake for shareholders but let's get

0:51.7

straight to the sell-off with our market panel.

0:53.7

Joining us now, Kara Murphy from Kestra Investment Management, David Zervos from

0:57.8

Jeffries and Senior Economics Reporter Steve Leisman. It is an all-star panel.

1:01.8

I'm going to start with our guests here on set.

1:04.4

David, I'll go to you first. Okay, soft jobs report, a lot of Fed speak today, some scuttle

1:09.7

butt that perhaps Waller is what spooked the market here. Your thoughts.

1:13.4

The data wasn't that bad.

1:15.0

I almost think, you know, we always talk about how bad data can engender a kind of good

1:19.5

reaction in the market because then we get the faster rate cuts, but it wasn't good enough to get,

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.