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Closing Bell

Closing Bell Overtime: Record Closes For Dow, S&P 500 1/19/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 19 January 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Record closes for the Dow, S&P 500 and Nasdaq-100 as markets shake off a wall of worry. BD8 Capital’s Barbara Doran and Franklin Templeton Fixed Income CIO break down how stocks can power higher in the weeks ahead. Melius’ Ben Reitzes on Apple’s Vision Pro. Citi Global Head of Healthcare, Consumer & Retail Chuck Adams on the dealmaking outlook for those sectors.

Transcript

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0:00.0

Well, there you have it record closed for the S&P 500, finishing above 4800 for the first time that we're seeing the broader market hit an all-time high since January of 2022.

0:10.4

We've got new records for the Dow and the NASDAQ 100 as well.

0:13.0

That is the square car on Wall Street.

0:15.0

The action though is just getting started.

0:17.0

Welcome to Closing Bell overtime.

0:19.0

I'm Morgan Brennan with John Ford.

0:20.0

Good to have you back.

0:21.0

Yeah, Tech keeps outperforming the broader market, led in part by

0:25.1

Apple today and so could M&A be a driving force behind the next leg of this rally if it

0:30.8

has one? Well, head of health care consumer

0:33.8

and retail investment banking is going to give us his merger outlook but first

0:38.9

let's bring in Bob Bazani for more on this historic closed Bob along with the major

0:44.9

indices really strong day for the socks the Philadelphia

0:48.2

semiconductor index up a full 4%. And who would have thought that Tech would be the leader in January of 2024?

0:56.0

Everyone thought, well, it couldn't, two years in a row, you can't have Invidi up 200% again.

1:00.0

And yet that is exactly what's happening.

1:02.0

I just want to show you how we got here

1:03.7

remember as you heard earlier January 3rd 2022 last time we had an historic high it took

1:09.2

almost 750 days but we did it and here's how we got there. Energy was a big market leader, believe it or not,

1:16.1

up 40 percent, but that's only 4 percent of the S&P 500. Technology was the key to this rally,

1:21.7

even in the last two years with a bad move down in

1:24.4

2022 tech up 15%

...

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