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Closing Bell

Closing Bell: Overtime: IBM CEO On AI Deployment; CrowdStrike CEO On New AI Cyber Threats 01/11/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 11 January 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

It is finally here: the first day of trading for spot bitcoin ETFs. Marathon Digital CEO Fred Thiel and Mike Belshe, Bitgo CEO, on what it means for the price and the companies involved. IBM CEO Arvind Krishna talks AI deployment, the cloud and the company’s consultancy business. CrowdStrike CEO George Kurtz on how the company is adjusting to new threats as AI usage proliferates. Former Kansas City Fed President Thomas Hoenig talks the latest inflation data.

Transcript

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0:00.0

A tug of war between the Bulls and Bears today with the major averages finishing essentially flat,

0:05.4

even as mega cap tech hit fresh highs.

0:08.2

That flatness really belying the volatility we saw in the trading session.

0:11.2

That's the scorecard on Wall Street,

0:12.5

but the action is just getting started.

0:14.0

Welcome to Closing Bell Overtime.

0:15.2

I'm Morgan Brennan with John Fort.

0:16.7

And yes, stocks staging a late-day comeback

0:18.7

after a larger than expected inflation increase last month.

0:22.2

Tank, once again, outperforming the broader market and coming up an exclusive with IBM CEO,

0:27.6

Arvin Krishna, on the company's AI and consulting businesses.

0:31.2

Plus, Spot Bitcoin ETS.

0:33.7

They're now officially trading on Wall Street.

0:36.5

We will discuss how that is impacting the crypto world,

0:39.4

well we are joined by the CEOs of Marathon Digital and BitGo.

0:43.0

First though, the major average is closing well off the lows of the session on track

0:47.7

to close higher for the week.

0:49.4

Joining us now is Candor Fitzgerald, head of derivatives and cross asset.

0:53.0

Eric Johnson, Eric, good to see you.

0:55.1

So boy, you've been bearish for a while.

0:58.3

And I know it's a new year, but how does that pan out now you think you should be short low quality small cap you don't think the growth trade is going to work for too much longer

1:10.3

But I guess you can't look at Bitcoin because it's tended to be good for that low quality stuff, and it's been higher.

...

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