Closing Bell Overtime: Starbucks Has Best Day Ever After Announcing New CEO; Dan Niles On How To Play AI 8/13/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 13 August 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks rallied into the close and ended near session highs after a key inflation read came in lighter than estimates. The big corporate story of the day was Starbucks: hiring Brian Niccol away from Chipotle to be the new CEO. Starbucks recorded its best day ever; Barclays analyst Jeffrey Bernstein breaks down what is next for both companies. Tech investor Dan Niles on how to play the current volatility and navigating AI. Evercore ISI Vice Chairman Krishna Guha on the Fed and inflation. Plus, top-rated retail analyst Christopher Horver of JPMorgan on what to expect from Walmart and other retailers this week.

Transcript

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0:00.0	That's standard regulation, Black Rock ringing the closing well the New York Stock Exchange,
0:06.0	USA Volleyball doing the honors at the NASDAQ, a softer inflation print sending yields lower stocks higher with the
0:13.6	Nasak leading the gains up around 2.5% we just closed at session highs
0:18.1	that's the scorecard on Wall Street as you can just see right there on your
0:21.3	screen market rally.
0:23.0	We're just getting started here.
0:24.0	Welcome to Closing Bell overtime.
0:25.0	I'm Morgan Brennan.
0:26.0	John Port is off today.
0:28.0	Coming up this hour, tech investor Dan Niles joins us
0:30.0	with his take on the Nasdax rally today,
0:32.0	plus the two MAG7 stocks he likes. with his take on the Nasdax rally today,
0:32.6	plus the two Mag seven stocks he likes right now,
0:36.0	and why Invidia could face near-term headwinds,
0:38.8	even after a big comeback this week.
0:40.9	Plus, Evercore Vice Chairman, Krishna Guha weighs in on today's
0:44.6	producer Price Index print and whether it raises the odds of a 50 basis point
0:49.1	cut in September and a lactay pressure on his shoulders.
0:55.0	Chipotle's Brian Nickel getting poached by Starbucks to try to write the coffee ship.
1:00.6	We will talk about the implications for investors in both companies with big moves in both of those stocks today
1:05.3	But first let's get to the market action with our panel Adam Chrisofooli of vital knowledge and Courtney Garcia of Payne Capital Management and a CMBC contributor.
1:14.3	Adam will go to you first.
	...

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