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Closing Bell

Closing Bell: Overtime: Morgan Interviews Virgin Galactic CEO After The Company’s First Commercial Launch; Why Joby Aviation Is Up 54% This Week 6/29/23

Closing Bell

CNBC

Business, News

4.4139 Ratings

🗓️ 29 June 2023

⏱️ 33 minutes

🧾️ Download transcript

Summary

The Dow and S&P 500 moved higher today. Allspring’s Ann Miletti and LPL Financial’s Jeff Buchinder break down the market action. Nike shares fell in Overtime trading after reporting earnings. CFRA’s Zachary Warring discusses the stock. Joby Aviation stock is up 54% so far this week. Our Phil LeBeau on the reason behind the surge. Morgan sits down with Virgin Galactic CEO Michael Colglazier live in New Mexico after the company’s first commercial flight. PagerDuty CEO Jennifer Tejada talks the company’s stock performance and incorporating AI for its customers. MKM Partners Chief Market Technician JC O’Hara on top picks in small-caps.

Transcript

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0:00.0

Well, there's your scorecard on Wall Street.

0:03.1

Winners stay late though, welcome to Close and Bell overtime.

0:05.0

I'm John Fort.

0:05.9

Morgan Brennan is live in New Mexico, where Virgin Galactic just completed its first commercial

0:11.8

space flight earlier today.

0:13.6

She's going to talk exclusively with Galactic CEO Michael Glazer a bit later in the show.

0:19.7

Also this hour, Nike is gearing up to report earnings results after lagging the market so far this year.

0:25.4

We're going to bring you the numbers as soon as they cross.

0:28.1

But now let's get straight to our market panel.

0:29.9

Joining us now, Ann Mulletti from All Spring Global Investments and Jeff Bookbinder from

0:34.2

LPL Financial.

0:36.2

Guys, welcome and the Russell kind of outperformed today.

0:41.6

What's going on with this kind of difference in the way the

0:46.5

indices are responded are are we waiting for another piece of information perhaps

0:51.9

even next week's jobs report?

0:54.0

Look I think the market's constantly waiting for data and investors are as well and

1:01.0

it's been a little bit of a roller coaster ride.

1:03.2

You get good data, the market reacts to that,

1:05.9

and then some challenging data and the market reacts to that.

1:08.8

But it's all dependent on the data

1:11.6

and what the Fed's going to do.

1:13.0

Look, we've been in the camp that the Fed still has some work to do,

...

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