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Closing Bell

Closing Bell Overtime: Policy Shockwaves Hit Oil, Defense, Housing as Record Run Takes Breather 1/7/26

Closing Bell

CNBC

Business, News

4.8118 Ratings

🗓️ 7 January 2026

⏱️ 39 minutes

🧾️ Download transcript

Summary

Markets move as Washington takes center stage, with Eamon Javers reporting on White House actions rippling through oil, defense, and housing, including new limits that could keep institutional investors out of single-family homes. Tony Bancroft of Gabelli weighs in on proposals to restrict pay, buybacks, and dividends for defense companies. Victoria Greene of G Squared Private Wealth and Kevin Gordon of Charles Schwab break down the market action and talk positioning and risk. Venezuela’s oil outlook with our Brian Sullivan and the geopolitical stakes involving China with former U.S. Ambassador to China Nicholas Burns, before Tim Seymour rounds out the conversation with a look at international markets.

Transcript

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0:00.0

That's the end of regulation intercontinental exchange ringing the closing belt in the New York Stock Exchange.

0:07.7

Weight Watchers doing the honors at the NASDAQ.

0:10.1

The Dow hit an intraday high earlier in the session, but reversed to close down nearly 500 points.

0:15.6

The S&P, as you can see right there on your screen, down fractionally as well.

0:19.5

It looks like 6920 as we settle out here.

0:22.1

The NASDAQ, the only major average to finish higher, albeit slightly. Big theme today.

0:27.3

A reversal in some of the hottest parts of the market. Financials, those were some of the

0:30.3

worst performing sectors. Decliners include the volatile names within financials such as Robin Hood,

0:35.8

Coinbase, but also JP Morgan, Bank of America.

0:38.5

All of these names have been trading near record highs. The metals trade also reversing today.

0:42.8

Big losses in silver and in platinum especially. We've got more coming up on that.

0:48.3

Let's also take a look at bond yields because the tenure down to 4.14% this morning's ADP report, short, 41,000 jobs created.

0:57.8

That was slightly less than the estimate.

1:00.2

The government jobs report comes out on Friday, and that technical level for the 10-year

1:06.4

treasury yield is in focus as we get more macro data as the week unfolds here.

1:09.9

That's the scorecard on Wall Street. Welcome to closing bell overtime. I'm Morgan Brennan. John Ford is off today.

1:15.6

Washington moving Wall Street today in three key sectors. First, oil falling today as the U.S.

1:20.7

takes the first steps to import Venezuelan oil. The president says that could be up to $2 billion worth

1:26.5

of crude, which if it comes to the U.S., it won't be going to China.

1:31.1

We're going to discuss those implications.

1:33.6

And defense stocks also moving lower.

1:37.5

Lengthy post President Trump put out earlier today says he won't allow dividends or buybacks for defense companies, also placing

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