Closing Bell Overtime: Interactive Brokers Chairman On Election Betting; Navan and Brex CEOs On New Partnership 10/15/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 15 October 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks retreated from early trading gains to close in the red. Bespoke’s Paul Hickey and Truist’s Keith Lerner break down the market action, plus earnings from United Airlines, Interactive Brokers and JB Hunt. Interactive Brokers founder Thomas Peterffy talks why consumers keep joining his platform, plus the early feedback from the company’s new election forecasting service. Allianz’s Mohamed El-Erian on the economy and the markets – and why a soft landing is becoming more likely. Brex and Navan, two CNBC Disruptor 50 companies, have teamed up for a new partnership on business travel expenses. CEOs Pedro Franceshi and Ariel Cohen join to break down the new offering, plus what they are seeing in the startup markets right now.

Transcript

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0:00.0	Well that does it let's that's the end of regulation blackberry ringing the closing
0:05.2	belt in New York Stock Exchange the We Inspire Promote network doing the honors at
0:09.0	the Nasdaq major averages closing near session lows as a big pullback for the chips
0:13.7	offsets solid earnings from the banks. We've got energy leading to the downside as
0:17.9	oil prices fall off a cliff. That is the scorecard on Wall Street but the action is
0:22.1	just getting started.
0:23.3	Welcome to Closing Bell overtime.
0:24.8	I'm Morgan Brennan at C. M.
0:26.2	Headquarters.
0:27.2	And I'm John Fort in San Francisco.
0:29.3	Well, overtime earnings kicked into high gear today
0:32.0	with three key reports coming your way, United
0:34.3	Airlines J.B. Hunt and Interactive Brokers. We will bring you all the numbers and
0:38.4	an exclusive interview with Interactive Brokers Chairman Thomas Petterfe before the analyst call.
0:44.0	Plus, Alleon's Chief Economic Advisor Mohammed Alarion joins us with his latest thoughts on
0:49.3	the Fed and market and how a big coal bag for oil which we saw today plays into the inflation picture.
0:56.0	And much more on this big move for the chips as ASML and NVIDIA Fall Hard and Wolf Speed Soars on funding news.
1:04.4	All right, well, we're going to get to our panel, but first, let's get to Phil Abboe
1:08.0	because we already have our first earnings report.
1:09.6	United Airlines is out and Phil has the numbers for us.
1:12.4	Hi Phil.
1:13.0	Morgan this is a beat on the top and the bottom line for the third quarter for
	...

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