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Closing Bell

Closing Bell Overtime: OpenAI’s New Products; Commercial Real Estate Headaches 11/6/23

Closing Bell

CNBC

News, Business

4.4140 Ratings

🗓️ 6 November 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

The major averages closed higher again, extending last week’s strength. Evercore’s Julian Emanuel walks through why he still sees a rally in the S&P 500 to end the year. Earnings from Tripadvisor and NXP Semiconductors. Bernstein analyst Stacy Rasgon breaks down the numbers. Bill Shopoff, Shopoff Realty CEO, talks his company’s real estate portfolio and how the sector is dealing with rising rates. Neuberger Berman CIO Joseph Amato on why investors should consider small-caps right now. 3Fourteen Research co-founder Fernando Vidal on the significance of today’s OpenAI developer day.

Transcript

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0:00.0

The stocks continuing the recent winning streak, finishing the day higher after dancing between gains and losses during the session.

0:06.1

That's the scorecard on Wall Street, but the action is just getting started.

0:09.4

Welcome to closing bell overtime. I'm Morgan Brennan at C. M. C. headquarters.

0:13.8

And I'm John Ford in Washington, D.C. today.

0:16.0

Coming up this hour, chips and trips.

0:19.0

We will get quarterly results from NXP semi and trip

0:22.3

advisor as we kick off another big week of earnings.

0:25.0

Plus Newberger Berman President and Chief Investment Officer Joe Amato joins us with his

0:30.1

outlook for the market and one surprising area that could start to outperform.

0:35.5

Let's get straight to the market as stocks come off a major winning week.

0:39.6

The action a bit more subdued today as yields climb back after tanking post-fed.

0:45.0

The NBC's senior market commentator Mike Santoli joins us now for the New York Stock Exchange, Mike,

0:50.0

I mean S&P sectors, technology technology health and com services did the best. You know nothing in technology

0:58.3

seemed to be a huge huge outperformer more stocks down than up, right?

1:04.0

Yeah, more stocks down that up on an individual basis.

1:07.0

John, twice as much volume was down that up, but you do have, I guess the familiar comfortable growth sectors that people migrate to in a defensive

1:15.6

mode or at least when there's sort of no other strong catalyst that did carry the index

1:20.5

is a little bit higher and we've had another strong Monday the

1:23.0

Nasdaq up for an 18th straight Monday that's another quirky trend we have

1:27.4

right now in general though market came into the week running very hot

1:30.8

after the rally of the prior five days,

1:34.0

needed to cool off.

...

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