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Closing Bell

Closing Bell Overtime: Is AI Trade Back On? Plus, First Reactions To Apple WWDC 6/8/26

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 8 June 2026

⏱️ 44 minutes

🧾️ Download transcript

Summary

Tech stocks resumed their climb while investors wrestle with a key question: has the market come too far too fast? Brian Kersmanc of GQG Partners weighs whether stocks are approaching a top or still have room to run. Gargi Chaudhuri of BlackRock joins to discuss stock valuations, the economy and what the Federal Reserve could do next as investors navigate a changing backdrop. We get first reaction to Apple's Worldwide Developers Conference. Nilay Patel of The Verge and Jay Goldberg of Seaport analyze the company's latest announcements and what they mean for Apple's position in AI and consumer technology. Joe Mazzola of Charles Schwab discusses what retail investors are doing with their money and whether anticipation around a potential SpaceX offering is influencing investor behavior.

Transcript

Click on a timestamp to play from that location

0:00.0

And at the NASDAQ, McWare doing the honors. Welcome to closing bell overtime. We're live from Studio B at the NASAC market site. I'm Melissa Lee, along with Mike Santoli. Tech sucks rebounding from Friday's big losses, the down basically flat by the S&B 500, up about a quarter of a percent. The NASAC bouncing back by nearly 1%. Same for the Russell 2000. We are also watching Apple as Tim Cook wraps up his final WWDC as CEO.

0:23.3

Interesting intraday moves there, jumping at the open and declining during the keynote.

0:28.0

Much more on Apple coming up. And you can't buy SpaceX just yet, but you can get a piece of Elon Musk through Tesla.

0:34.5

That's up higher by 4%. Interesting day-to-day. We didn't really recoup a lot of the losses in some of the big

0:40.5

bombed-out sectors. Semiconductors, for instance, memory stocks, software.

0:46.1

Yeah, NASDAQ 100 gets back, not even a third of what's been lost over the prior three days.

0:50.3

So the burden of proof is kind of there. We've kind of eaten through all of the positive

0:54.8

earnings-related catalyst, all the revisions went higher. The semi-sector doubled in two months and

1:00.2

then barely went back below its 20-day average for about a half hour on Friday. So, you know,

1:04.8

we'll see if that was enough of a reset. Clearly the market kind of tells you in this way when

1:09.9

the crowded trades are getting a little too crowded and when we've seen a little bit too much of an imbalance. So we'll see their yields didn't do much today. You know, on the macro side, it was relatively quiet. So we are waiting for that inflation number. But I do think it maybe is a, you know, a little too much to ask to say, oh, we had a one day, you know, a little jolt to the downside, and that's going to be enough. But I was wondering from your perspective, I mean, a one day jolt for the semiconductor index in this case was a correction. Significant. So, was that not as valid because it happened in a single session, or is it just as valid? I wouldn't say it's not as valid because it happened all in one bite.

1:45.0

It's much more about just how much of the upside overshoot did we take care of.

1:51.0

And I think that's where it tells you that, you know, look, no violation of any uptrend was sustained or anything like that.

1:58.7

And the rest of the market has tried to pick up the slack.

2:01.6

It's just one of those things where I think it's sort of, you've got to prove it after a day

2:06.1

when there was a total opportunity to actually, you know, rally through the day.

2:10.7

And in fact, you backed off through most of the session.

2:12.9

Let's get more on the markets now with Christina Parts Nevelas.

2:15.5

Christina.

2:17.3

Well, you talked about it.

2:18.4

Stock staging a sharp rebound jolt Monday or today as investors really stepped back into

2:23.5

the market following Friday's AI-driven sell-off.

...

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