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Closing Bell

Closing Bell Overtime: Stocks Close Well Off Lows As Equities Shake Off Surge in Oil 4/2/26

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 2 April 2026

⏱️ 44 minutes

🧾️ Download transcript

Summary

Richard Haass, former President of the Council on Foreign Relations, explains how the geopolitical landscape is shifting and what it means for markets and global stability. Max Kettner, Chief Multi-Asset Strategist at HSBC, breaks down the market impact and how investors should be positioned amid volatility. Paul Sankey of Sankey Research dives into the oil market gyrations. Former CEA member Jared Bernstein discusses where the economy stands and what comes next for growth, policy and the labor market. Richard Bernstein of Janus Henderson outlines what could drive markets in the week ahead as investors prepare for key jobs data.

Transcript

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0:00.0

The bell is bringing an end to the trading day at the NYC Olympic champion, Michaela Schifrin,

0:08.9

ringing the closing bell and at the NASDAQ, Brain Limited, doing the honors.

0:13.1

Welcome to closing bell overtime, live from Studio B at the NASDAQ market site.

0:16.9

I'm Mike Santoli.

0:17.8

Melissa Lee is off today.

0:19.6

A sharp reversal for stocks today is the S&P 500

0:22.9

rebounds from a more than one and a half percent loss in the morning. The NASDAQ bounced back

0:27.8

from a more than 2 percent drop. At the close, the S&P and NASDAQ ending the day, just slightly

0:32.8

in the green, the Dow essentially flat, all major indices breaking a five-week losing streak, more on the markets ahead.

0:39.8

On our radar at the close, oil's massive rally, conflicting economic data, and one year since Liberation Day.

0:47.0

But let's start with all of today's market action.

0:49.5

Simomodi is watching today's movers, Pippa Stevens tracking oil and diesel, Rick Santelli with the bond action and Aiman Jabbers with the latest out of D.C.

0:58.7

And Sima, we start with you.

1:00.4

And Mike, that intraday reversal certainly catching the attention, even with oil prices remaining

1:04.8

higher throughout the day as President Trump declining to give a definitive timeline for the end

1:09.8

of the war with Iran, WTI crude, settling at its highest level since June of 2022.

1:15.2

That did help certain parts of the energy sector outperform names like Diamondback, Marathon Petroleum, trading higher by 1 to 2%.

1:22.1

But technology remaining weak led by the hypers, meta, Amazon, Alphabet, all finishing lower on the day,

1:29.0

but off the loads of the day, memory names like Micron and Western Digital that had been

1:33.2

under pressure recently, unable to catch a break in today's trade.

1:36.7

But software, a sector that has been beaten up recently, around concerns around AI, the displacement

1:42.0

fears, seeing its first positive week since March 6th.

...

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