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Closing Bell

Closing Bell Overtime: Hunterbrook’s Sam Koppelman On Shorting UWM; Blackstone Global Co-Head of Real Estate On Top Opportunities 4/3/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 3 April 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Real estate investors are adjusting to a “higher for longer” environment; Blackstone Global Co-Head of Real Estate Kathleen McCarthy talks the impact on her portfolio and where she sees top opportunities going forward. Disney management held off investor Nelson Peltz’s bid for two board seats; shareholder and Peltz-backer Robert Schein of Blanke Schein Wealth Management weighs in on what’s next. The future of investigative journalism? Hunterbrook’s Sam Koppelman talks the company’s launch after it published a blistering report calling out practices at UWM while going short the stock. Plus, Klaviyo CEO on the state of the consumer.

Transcript

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0:00.0

Well, late afternoon slum, sending the Dow lower for the third straight day.

0:10.0

Just barely though, we did get slight games for the S&P and

0:13.6

Nasdaq. That's the scorecard on Wall Street but the action is just

0:16.2

getting started. Welcome to Closing Bell overtime. I'm Morgan Brennan with

0:19.5

John Fort. Yeah, and the Dow now on pays for its worst week since October.

0:23.6

Energy, the best performing sector as W.T.I. Crude keeps rallying Consumer Stapels, the big loser.

0:29.7

Now investors turn their attention to another read on the state of the consumer.

0:33.2

We're going to have instant analysis of Levi Strauss's results as soon as they're

0:36.9

released. Also ahead. Real Estate's been the worst performing S&P sector this year,

0:41.2

but Blackstone's global co-head of real estate tells us where she sees buying opportunities

0:46.0

across the broader space.

0:48.0

That's coming up.

0:49.0

Yeah, let's get to today's action now with our market panel,

0:51.0

Barbara Durand of B. D.8 Capital Partners and David Kelly of

0:53.6

J.P. Morgan Asset Management. Welcome both of you. David, we've got one more trading day

1:01.2

before the jobs report. You're still expecting three cuts this year, not

1:05.0

everybody at the Fed is. So how important is that report? What are you looking

1:11.6

for sort of in the hours ahead of it as we see the major

1:15.6

indices sort of treading water here? Well I think it is important that we get

1:19.4

three rate cuts the futures market is nervously still pricing in three rate cuts this year and

1:25.4

pricing in a first cut in June. But it's close. I mean you can hear voices on the

1:29.1

Fed saying, why do we need to do it now? Why do we wait? And my response to that is, look, the economy is in pretty

...

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