Closing Bell Overtime: Market Sell Off with Bob Elliott & Keith Lerner, Fundstrat’s Tom Lee, and Jefferies’ David Zervos 2/21/25
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 21 February 2025
⏱️ 43 minutes
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| 0:00.0 | That Dowell marks the end of regulation for the week. Jericho Project bringing the closing bell to New York Stock Exchange, GSR3 Acquisition Corp doing the honors at the NASDAQ. |
| 0:08.8 | And speaking to Jericho, stocks falling hard to end this short and trading week as UNH drags down the Dow, tech tumbles, small cap sell off and soft data spooks investors. |
| 0:19.4 | That's the scorecard on Wall Street, but winners stay late. Welcome to closing bell overtime. I'm John Fort with Morgan Brennan. |
| 0:24.5 | We'll be all over the selloff throughout the hour. Fundstraughts Tom Lee will tell us |
| 0:28.5 | why E.C. is a contrarian bullish indicator in this pullback. Plus, noted housing analyst, |
| 0:34.0 | Ivy Zellman is going to break down the rough stretch for the home builders after more |
| 0:38.2 | downbeat data on home sales today. And Goldman Sachs tech analyst Eric Sheridan will join us with his |
| 0:44.2 | take on the dip for the technology stocks ahead of more earnings from the sector next week, including |
| 0:49.5 | from NVIDIA. Well, let's sort through the wreckage with the sell-off with Unlimited CEO Bob |
| 0:54.9 | Elliott and Truest Wealth Co-CIO, Keith Lerner. Happy Friday, guys. Keith, we were at these |
| 1:01.9 | levels, what, and around, let's see, over 6,000 still on the S&P, late January, late December, late November. I mean, so in a way, |
| 1:14.6 | we're not, it's a bad day for the market, but not out of a range. You seem to be saying there's |
| 1:20.5 | no reason to believe that stocks are falling out of bed here. Well, first, great to be with you, |
| 1:26.5 | even though it's an ugly day. I think the big |
| 1:29.5 | picture is right. This market has been churning. It's been a split market below the surface. |
| 1:34.9 | Our overall theme for this year was a bull in a China shop. We think the primary market trend is up, |
| 1:40.6 | but we thought there would be some disruptions. And if you go back to November, initially the market was focused on all the potential positives |
| 1:46.8 | as far as deregulation and taxes. |
| 1:49.3 | And back then, we said, you know, coming into this year, we think the market would start |
| 1:52.7 | to focus on some of the other side, such as tariffs. |
| 1:55.9 | And I think in the short term, the market's a little bit heavy here. |
| 1:59.5 | There is that kind of a little bit of a growth scare with some of the PMI services numbers |
... |
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