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Closing Bell

Closing Bell Overtime: Markets Digest Nvidia News; Getting Set For Fed Decision 3/19/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 19 March 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Investors turning their attention from Nvidia to the Fed as its next policy rate decision comes Wednesday. Citi’s Scott Chronert and Evercore’s Krishna Guha break down what to expect. Wedbush analyst Matt Bryson and T. Rowe Price tech portfolio manager Tony Wang react to Nvidia’s new products. Plus, Hamilton Lane Co-CEO Erik Hirsh on investing in private markets ahead of IPOs from Reddit and Astera Labs. And our Emily Wilkins reports on how the Senate result in Ohio could impact crypto prices.

Transcript

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0:00.0

Well, a stock settle here. It does look like we're getting another record close for the S&P 551-78.

0:08.0

If it stays this way ahead of tomorrow's Fed interest rate decision, that is the scorecard on Wall Street

0:13.8

but the action is just getting started.

0:15.8

Welcome to closing bell over time I'm working Brennan with John Port.

0:18.9

Yeah you got to kind of shake it for a little bit and see where it settles

0:21.4

on energy and utilities driving the games today.

0:24.7

Invidia having a volatile session after announcing new AI chips and more data center technology,

0:29.7

but it's new software partnerships with Synopsys, cadence design, and

0:33.0

ANSI's those three stocks the best performing tech stocks in the S&P 500.

0:37.0

And later, Hamilton Lane of Co-C.

0:40.0

Eric Hersch gives us his outlook for the IPO market as Reddit gets set to go public this

0:44.7

week and it's not even the only IPO we're going to be getting. But let's get

0:48.2

straight to today's action shall we with our first guest, City Head of U.S.

0:51.4

Equity Strategy, Scott Kronert. Scott, it's great to have you on.

0:55.6

We did finish the day higher for all of the major averages.

0:59.1

It looks like we did get another record close for the S&P 500.

1:03.2

How does this set us up not only for the rest of the week

1:07.0

where we know we're going to have some market moving

1:08.7

catalysts here, particularly with the Fed tomorrow,

1:11.0

but looking at your forecast for the year 5100

1:15.5

we're above that now.

1:17.7

Morgan you're spot on 5103 months ago seems pretty optimistic now we're looking through the rearview mirror at it

...

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