Closing Bell Overtime: Nike sinks on earnings, Commerce Secretary Raimondo talks Taiwan and Chips, Nordic American Tankers CEO on Red Sea turmoil 12/21/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 21 December 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks gained back ground following Wednesday’s slide, but Nike moved lower on quarterly results. Analyst Brian Nagel joins to break down the quarter. Commerce Secretary Gina Raimondo talks in an exclusive interview about chips and reports about China president Xi’s comments surrounding Taiwan, plus thoughts on Nippon Steel’s deal to buy U.S. Steel. The CEO of Nordic American Tankers on protecting his fleet in the Red Sea. And IMAX CEO Richard Gelfond on what big media consolidation would mean for the movie business.

Transcript

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0:00.0	Well stocks bouncing back from Wednesdays sell-off back in positive territory for the week as well
0:08.0	that is the score current on Wall Street but the action is just getting started.
0:11.8	Welcome to Closing Bell overtime.
0:13.2	I'm Morgan Brennan with John Fort.
0:15.0	And we've got a runaway hour lining up at the blocks.
0:17.2	In just a moment, earnings results from Nike.
0:19.2	One final read on the state of the consumer
0:21.1	before the end of the year.
0:22.8	We'll bring you those numbers as soon as they cross.
0:25.1	Plus, a cannot miss exclusive interview with Commerce Secretary Gina Raimundo
0:30.2	on new efforts to boost the chip supply chain and reaction to reported comments
0:34.9	from Chinese President Xi Jin Ping about reunification with Taiwan.
0:39.2	And I'm the CEO Richard Gelfond on talks about the prospect of a mega media merger between
0:46.4	Warner Brothers and Paramount what it would mean for the movie business. Stocks making a comeback after yesterday's late days sell off the
0:54.1	S&P Nasdaq and Russell 2000 adding more than a percent today.
0:57.6	Mike Santoli is back with us with the New York Stock Exchange.
1:00.3	Mike is this bounce convincing and does it even matter given the lack of
1:06.4	sellers at the end of the year?
1:08.4	Yeah, John, I would say, I don't know about convincing. In other words, there was no
1:11.9	verdict that was really returned today
1:13.8	based on what happened yesterday.
1:15.7	And we regained two-thirds of it.
	...

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