Closing Bell Overtime: Robert Shiller On Red Flags in the Real Estate Market; Breaking News on Lyft 3/27/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 27 March 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Dow and S&P 500 notched their third straight positive session but the Nasdaq fell 0.5%. Crossmark Global’s Bob Doll talks the market action and what moves he is making for his clients right now. Our Deirdre Bosa breaks news on new leadership at Lyft while Wedbush’s Dan Ives joins for instant stock reaction. Mizuho Dan Dolev breaks down the ripples effects from the CFTC lawsuit against Binance for the crypto universe. Stifel’a Mark May talks the impact of SVB failure on tech M&A and IPOs. RingCentral’s CEO discusses the company’s new AI products. Plus, RBC’s Scott Hanold on opportunities in energy, one of the worst-performing sectors YTD. And Jon Fortt eulogizes a tech legend who recently passed: Gordon Moore.

Transcript

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0:00.0	Well, we got your score card on Wall Street, but winter's day late.
0:04.2	Welcome to Closing Bell overtime.
0:05.7	I am John Fort with Morgan Brennan.
0:08.0	Coming up on today's show, we're going to talk to famed economist and Yale Professor
0:12.4	Robert Schiller
0:13.2	about the commercial and residential real estate markets
0:16.2	ahead of tomorrow's K Schiller home price data.
0:19.2	Plus, we'll ask an analyst about the fallout for crypto-related stocks.
0:23.9	Look at that chart today, following news
0:26.8	of a regulator complaint against finance.
0:28.9	But let's get right to the market action.
0:30.7	Crossmark Global Investment, CIO Bob Dahl joins us now.
0:34.7	Bob welcome, you along with some others
0:36.8	are saying trim mega cap tech, but how much?
0:41.3	Because a lot of people are effectively invested in mega cap tech through the
0:46.3	S&P 500, which is heavily weighted that way right now and certainly through the triple
0:51.2	cues. Does that mean people should trade out of those
0:54.2	into something else not out for sure john if your benchmarks the s and p500 I'll give you my
1:00.3	portfolios for example as you said 12% for Microsoft Apple and Google I'm not
1:06.9	zero in some accounts I'm still nine some sevenish just under and less than I was I started trimming
1:15.4	tech a little soon kind of Friday before last and started buying stuff that's been
1:20.6	hit hard banks among them and a few energy stocks.
	...

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