Closing Bell Overtime: Looking Past the Turmoil With Former Bridgewater Investment Committee Member Bob Elliott and Former TD Ameritrade CEO Fredric Tomczyk

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 24 March 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Averages shook off early losses and fears around Deutsche Bank to end the session, and the week, higher. Invesco’s Brian Levitt and Commonwealth’s Brad McMillan break down the market action and give their playbook. Former TD Ameritrade CEO Fredric Tomczyk talks the banking turmoil of the past few weeks. Former Bridgewater Investment Committee member and Unlimited founder Bob Elliott takes a step back to assess the macro picture and how investors should be thinking about the recent market moves. Meanwhile, gold has notched four straight weeks of gains and VanEck Assocaites CEO Jan Van Eck on where the money is flowing in this market. Morgan Brennan discusses the under-the-radar developments in the space sector from the past week. Plus, our Steve Liesman reports on the Treasury Department’s meeting of top financial regulators and the latest bank balance sheet data from the Fed.

Transcript

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0:00.0	Games to end the trading week as stocks finish this Friday higher.
0:04.4	That is the scorecard on Wall Street, but the action is just getting started.
0:08.4	Welcome to Closing Bell overtime.
0:09.9	I'm Morgan Brennan with John Fort.
0:12.1	We are awaiting breaking news this hour
0:14.8	with the Fed expected to release the latest data
0:16.9	on assets and liabilities of commercial banks.
0:19.9	And this round includes numbers from the week
0:22.4	that SBB collapsed.
0:24.4	We're also expecting a readout from today's Financial Stability Oversight Council meeting.
0:28.8	We will discuss it all along with the latest concerns about Deutsche Bank and Global Financials with
0:34.6	former TV Ameritrate CEO Fred Tomchick.
0:38.2	Let's get straight to the market action as the major averages all lock and
0:41.5	gains for the week.
0:42.4	Joining us now is Investco Global Market Strategist Brian Levitt and Commonwealth
0:46.0	Financial Networks Chief Investment Officer Brad McMillan.
0:49.3	Good afternoon to you both.
0:50.5	Brian, I'll start with you.
0:52.0	We not only saw gains on the week for the major averages, but to you both both
0:53.0	not only saw gains on the week for the major averages but we are now
0:55.3	actually higher over the past two weeks since the S. V.
0:59.7	Bank run and failure you surprised by that?
	...

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