Closing Bell Overtime: Prologis CEO On Rent Demand Slowdown; Microsoft Closes At Record High 7/18/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 18 July 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

All three major averages closed higher. The Dow notched its seventh straight positive session—the longest streak since March 2021. Edward Jones’ Mona Mahajan and Wells Fargo’s Sameer Samana break down the market action. Earnings from Interactive Brokers, JB Hunt and regional bank Western Alliance. CFRA’s Ken Leon looks ahead to Goldman earnings. Prologis CEO Hamid Moghadam on the latest quarter and rent demand. UBS analyst John Hodulik previews Netflix earnings. Microsoft closed at a record high; Citi’s Tyler Radke on where it goes from here.

Transcript

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0:00.0	Well the rally continues the S&P and NASDAQ hitting their highest levels today since April of
0:06.1	2022 a fresh 52 week high for the transport's too. That is the scorecard on Wall Street.
0:10.9	The action though is just getting started. Welcome to
0:13.0	closing bell overtime. I'm Morgan Breton with John Fort, the Dow
0:16.7	extending its winning street to a seventh day thanks to Microsoft closing at a new
0:21.1	high after pricing its AI tools,
0:23.8	strong earnings for Bank of America, Morgan Stanley,
0:26.5	also helping this broad market rally.
0:28.5	Plus we are awaiting earnings from interactive brokers,
0:31.0	J.B. Hunt and Western Alliance, we will bring you those results as soon as they
0:34.5	crossed.
0:35.5	All right, well, we will take the pulse of the industrial real estate business when we are joined
0:39.5	by the CEO ProLoges, which reported mixed results today.
0:44.0	Meantime, stocks extending the recent strength,
0:46.0	seven straight positive sessions for the Dow,
0:47.9	longest streak since March of 2021,
0:49.6	while the S&P 500 touched a fresh 52 week high.
0:52.5	Meanwhile, Microsoft closing at an all-time high,
0:55.4	the market cap standing at nearly $2.7 trillion.
0:59.3	Joining us now is Mona Mahajan,
1:01.0	Edward Jones, senior investment strategist and Samuana, Wells Fargo Investment
1:04.8	Institute, Senior Global Market Strategist.
	...

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