Closing Bell: Overtime: Nasdaq CEO On AI In The Marketplace, Van Eck CEO On Spot Bitcoin ETF Approval 01/10/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 10 January 2024

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

A busy market day got busier after hours when the SEC approved 11 spot bitcoin ETFs, including one from VanEck; CEO Jan van Eck joins to break down what it means for clients and crypto. Nasdaq CEO Adena Friedman talks AI in the marketplace, fighting financial crime and the IPO pipeline. BD8 Capital’s Barbara Doran and Evans May Wealth’s Brooke May discuss market positioning as tech stocks had another strong day. Plus, Retired Rear Admiral Joseph “Digger” DiGuardo on the attacks in the Red Sea and Dr. Emil Kakkis, Ultragenyx Founder, on the race to develop drugs for rare diseases.

Transcript

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0:00.0	That is the scorecard on Wall Street with the S&P back above 4780. The Russell 2000 didn't have a great day.
0:10.8	Winter stay late. Welcome to Closing Bell overtime. I'm John
0:13.2	Fort with Morgan Brennan. Stocks in the green across the board led by the
0:16.7	tech sector helping the Nasdaq extend its winning streak to four days.
0:20.8	Coming up, Nasdaq CEO, Adena Friedman, on the outlook for the market.
0:25.8	Hot investing trends like AI, and whether the IPO market will in fact rebound this year.
0:31.7	Plus we're just moments away from K. earnings and another read on the help of the red-hot
0:36.3	home builder industry.
0:37.5	But first, after today's gains, the major averages are on track to close higher for 10 of the 11 last 11 weeks.
0:45.0	Ex Russell 2000 to your point.
0:47.8	Mike Santoli joins us now from the New York Stock Exchange
0:50.7	with his take on what we're seeing.
0:52.4	Mike, I mean what's really leading the
0:53.7	charge here this week are the big tech names that had been leading up until maybe
0:58.9	two months ago. Yeah for sure it's a it's a little bit of a reversion back to sort of summer
1:04.2	2023 type of markets.
1:06.2	Invidia and Microsoft are accounting for, you know, most of the support the
1:10.5	S&P's gotten on a year-to-day basis.
1:12.6	It's only two weeks.
1:13.6	By the way, I also like the enthusiasm
1:15.3	on a Wednesday looking forward to the weekend
1:17.5	saying we're on track for that winning week.
	...

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