Closing Bell Overtime: Major Rally Heading Into The Weekend; What Talks Between President Biden And China’s Xi Could Look Like 11/10/23

Closing Bell

CNBC

Business, News

4.4 • 141 Ratings

🗓️ 10 November 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Major averages ended the week higher for their second straight positive week and the Nasdaq had its best day since May. Gentrust’s Mimi Duff helps break down the market action while 3Fourteen’s Warren Pies talks the move in oil. Council on Foreign Relations President Michael Froman on next week’s APEC meeting and what could come out of sideline talks between President Biden and China’s Xi Jinping. FICO CEO Will Lansing on the America consumer and spending levels heading into the holiday season. Matt Desch, Iridium CEO, on what’s next for the company after Qualcomm ended its 10-month partnership. BTIG’s Marie Thibault on the major moves in weight-loss drug companies. Plus, our Kate Rooney on the hottest new trend in investing: T-Bill & Chill.

Transcript

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0:00.0	Well there you have it session highs into the close as stocks rebounded to
0:03.7	finish their second straight week with gains. The Nassak just finished its best
0:07.5	day since May of 2% right now. That's the scorecard of Wall Street but the
0:11.5	action is just getting started.
0:13.0	Welcome to Closing Bell overtime.
0:14.4	I'm Wergen Brennan.
0:15.3	John Ford has the day off.
0:17.2	We will be all over this rally throughout the hour.
0:20.4	And also ahead, Warren Pies from 314 Research joins us to talk oil as crude notches
0:25.3	its third weekly decline in a row. Plus, Council and Foreign Relations President
0:29.9	Michael Frohman ahead of his appearance next week at the Apex Summit as news comes today
0:35.6	about an official meeting there between President Biden and China's President
0:39.7	Shegen-Ping.
0:41.5	We begin with this rally though. Stocks resuming their uptrend today and adding to strong
0:45.2	gains on the month.
0:46.2	The Tech Heavy Nasak was the standout winter this week as we just mentioned, but small caps did continue
0:51.6	to pull back. Let's bring in our market panel.
0:54.3	CNBC's senior markets commentator Mike Santoli
0:56.7	and Gen Trust senior client advisor Mimi Duff.
1:00.2	Mike, I know you were just chatting about this coming into the bells ringing but just to re-rack here
1:06.6	the fact that we had such a strong end to the day and to the week we haven't seen that very often at least before last week we had
1:15.2	been seeing these these sell-offs coming into the weekend what what has changed
	...

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