Closing Bell Overtime: Rough Ride on Wall Street, Salesforce earnings & C3.AI's CEO 2/28/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 28 February 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

The major averages falling again as the Dow extends its losing streak to a third day and the small-cap Russell 2000 snaps a 4-day win streak. Salesforce headlinING a huge hour of after the bell earnings. The company under pressure after issuing weaker than expected full year revenue guidance. Clear Bridge's Hilary Frisch and Third Bridge's Charlie Miner discuss how investors should trade the stock. And C3.ai CEO Tom Siebel discusses his company's revenue beat before she speaks with analysts on the earnings call.

Transcript

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0:00.0	Well, the Dow extending its losing streak to a third day stocks in general,
0:07.1	taking a bit of a breather here ahead of that key PCE inflation data
0:11.0	that we get tomorrow morning.
0:12.4	That is the scorecard on Wall Street
0:14.1	but the action is just getting started. Welcome to Closing Bell overtime.
0:16.7	I'm Morgan Brennan with John Ford.
0:18.5	Yeah, the Russell 2000 snapping a four-day wind street, Communication Services, communication services health care and tech the biggest drags there today now get ready for another barrage of overtime earnings
0:29.1	We're gonna break down results from Salesforce snowflake octa c C3 AI, H.P. Nutanics, AMC, Paramount Pure Storage
0:37.7	as soon as they're released.
0:38.7	Barrage is a good word for it.
0:40.1	Plus, we will speak exclusively with C3 AI CEO Tom Sebel about the quarter before he
0:45.8	jumps on the earnings call with Wall Street analysts. As we await those earnings
0:50.6	though let's begin with our market panel joining us now is
0:53.0	B. D8 Capital Partners CEO Barbara Duran and CN NBC Markets
0:57.5	commentator Mike Santoli. Barbara I'll start with you I'll call it a middling
1:01.6	day for the markets today just given what we're
1:04.9	seeing here ahead of that PCE data tomorrow I SM on Friday which do seem to be
1:10.4	like the key catalysts for this week. The S&P finishing fractionally lower, 50, 69.
1:15.8	But if you saw, look at an equal weighted version of the S&P,
1:19.2	it actually has fared better.
1:20.4	What does that tell us?
1:22.2	Well, I think it's telling there's a little bit of fatigue.
	...

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