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Closing Bell

Closing Bell Overtime: Shaking off the bad news 06/07/22

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 7 June 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

Stocks have somehow managed to remain resilient in the face of a slew of headwinds. So, what does that say for the state of the market? BMO Capital Markets’ Brian Belski gives his take. Plus, iCapital’s Anastasia Amoroso says the odds of a “soft-ish” landing are on the rise. And, is the software space just too expensive? We debate it in today’s Halftime/Overtime with Virtus Investment Partners’ Joe Terranova. 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.

0:03.0

Welcome everybody to overtime.

0:04.6

I'm Scott Wabney.

0:05.4

You just heard the bells.

0:06.4

We right here are just getting started.

0:08.8

In just a few minutes, I'll be joined by I-Capitals

0:11.1

and Estesia Amaroso to get her latest views on the markets.

0:14.8

Joe Taranova, Liz Young, will also be here with me.

0:18.0

We begin though with our talk of the tape.

0:20.0

This market's sudden ability, it seems, to shake off bad news from earnings to economic

0:25.0

data to that target takedown.

0:27.3

We're wondering what it says about the state of stocks right now.

0:30.3

Let's ask Brian Belzky, He is BMO Capital Markets Chief Investment

0:33.4

Strategist. He is right here at post nine. It's good to see you. Nice to see you.

0:38.2

I mean, it seems weird for me to use the word resilient with a fragile market but are we on to something with that?

0:46.0

I think we are good news is good news good news is bad news which one is it. I think when

0:50.0

we talk to clients got I think I sense that clients are getting a little bit more comfortable

0:54.9

at these price levels. I think the market has done a great job kind of re-rading some of these

1:00.0

higher growth stocks that kind of took out the so-called froth but at these levels

1:05.8

heading into the end of the year we've seen a bond market rally that is

1:08.8

obviously sent a 10-year a little bit lower and I think more and more people confident on what the

1:13.4

Fed's going to do the next two to three meetings that's now behind us.

...

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