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Closing Bell

Closing Bell Overtime: Record close for Nasdaq and S&P, Zscaler sinks and Real Opportunities in Real Estate 2/29/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 29 February 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

The Nasdaq and S&P 500 closing at record highs as the major averages rally for a fourth straight month. Solus' Dan Greenhaus on whether the rally has legs and if Industrials can keep outperforming the broader market. Zscaler shares getting crushed after earnings. Truist's Joel Fishbein says investors should buy the stock on the dip. The CEO of consumer products maker Compass Diversified tells us whether he sees any signs of slowing consumer spending. And Nuveen Real Estate's Head of Investments Carly Tripp on where she sees the biggest opportunities in the sector.

Transcript

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0:00.0

There it is record closed for the NASDAQ and the S&P even the Dow decided to do something

0:06.4

to the last hour closing the green. This marks the first new closing high for the NASDAQ since 2021.

0:12.4

So that's the scorecard on Wall Street but winners stay late. for the NASDAQ since 2021.

0:12.5

So that's the scorecard on Wall Street,

0:13.9

but winners stay late.

0:14.8

Welcome to closing about overtime.

0:16.2

I'm John Ford.

0:17.1

Morgan Brennan is off today.

0:18.8

The major average is now higher for a fourth straight month

0:22.2

with the S&P and NASDAQ posting the best monthly returns since November.

0:27.0

Now gets set for another busy hour of overtime earning.

0:30.0

We're going to break down the results from HPE Dell, Z-Scale, Autodesk, Soundhound, as soon as they're

0:37.4

released, get elastic in there too, maybe, but we're going to begin with our market panel.

0:42.1

Joining us now is Dan Greenhouse

0:43.7

of Solas Alternative Asset Asset Management and CMBC senior markets commentator Mike Santoli

0:50.2

back with us Dan great to have you here on set. So market today, reaction to

0:54.2

better than feared, PCE, yields are down, all the major indices up, Dow was

1:01.3

dragged down for a while by Boeing and Goldman.

1:03.6

What does this moment mean as far as believing in this market?

1:07.6

Yeah, listen, there are a lot of people who are not believers in this market and haven't been

1:12.2

for quite some time now.

1:13.4

I don't know the new highs you can do anything except reinforce a lot of the negative stereotypes

...

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