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Closing Bell

Closing Bell Overtime: Recession Fears Fade = Rally Time? 1/26/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 26 January 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Have those most imminent recession fears been pushed off enough that this rally can actually last longer than most thought? Kevin Gordon of Charles Schwab gives his forecast. Plus, Intel reported results in Overtime. Top chip analyst Stacy Rasgon gives his instant reaction. And, Mike Santoli’s Last Word on what he’s watching as we head into the final trading day of this busy week. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

All right, sir, thank you very much and welcome everybody to overtime.

0:03.7

I'm Scott Walker.

0:04.7

You just heard the bells, we're just getting started for Post-9 here at the New York Stock Exchange.

0:08.8

Intel and Visa, their earnings are imminent.

0:11.4

One, a good check on tech and demand for chips at a time

0:14.4

when that sector's been surging. The other real-time checkup on the consumer.

0:18.0

Our reporters as always standing by to break in with those details. We'll show you how the

0:22.4

stocks trade after the

0:23.9

numbers hit. We begin though with our talk of the tape. Have those imminent

0:28.1

recession fears been pushed off enough now that this rally can actually last

0:31.8

longer than many thought.

0:33.6

Let's ask Kevin Gordon, he's the senior investment strategist at Charles Schwab here with me

0:38.6

at post night.

0:39.6

I feel like it's good to see again.

0:40.4

I feel like that's the question of the moment, right?

0:42.4

Every piece of data that came

0:43.7

out today was pretty good the economy appears resilient at least to some respects

0:48.8

not one that's ready to go off a cliff so if we can say a recession is pushed further off why doesn't this rally have a rolling recessions being already present in the economy and I think you know if we're

1:04.1

looking at a metric like GDP very relevant for today even if you go below the

1:08.2

surface of some of the you know the headline metric of the 2.9% growth that we got.

1:13.2

You know, something like real final sales

1:14.8

to private domestic purchasers.

...

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