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Closing Bell

Closing Bell Overtime: Stocks End Wild Week; elf Beauty CEO On Consumer 8/9/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 9 August 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Stocks stage another comeback attempt to claw back Monday’s gains. HSBC’s Jose Rasco and Charles Schwab’s Kevin Gordon break down where things in the market. BofA’s Robert Ohmes previews next week’s retail reports after executives warned about a slowing consumer. Mark Mobius on international opportunities and global volatility. ELF Beauty CEO Tarang Amin on the latest quarter, growing market share and the strength of the consumer. Axon CEO Rick Smith on growing demand for drones in law enforcement.

Transcript

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0:00.0

Well that's the end of regulation blueprint investment partners in Chesapeake Capital Corporation

0:04.1

ringing the closing about the New York Stock Exchange. Summit Global Investments doing the honors at the Nasdac.

0:09.2

Stocks range bound to end a wild week. The NasDAQ 100 remarkably finishing in the green since

0:15.2

Monday's open and the major average is only logging minor losses. It looks like

0:20.1

S&P is basically flat here which is big news in of itself. When's the last

0:26.0

time you heard that? That's the square car on Wall Street. But the action is just

0:29.6

getting started. Welcome to Closing Bell overtime. I'm Morgan Brennan and

0:32.2

John Fort is off today.

0:33.7

Coming up this hour, Mark Mobius.

0:35.7

The man some have called the Indiana Jones of emerging market investing joins us

0:41.5

to talk about the wild volatility in global markets and where he's

0:44.7

putting money to work now. Plus we will get a check on the pulse of the

0:48.9

consumer and we are joined by the CEO of Cosmetics Company Elf Beauty, which is sinking today on the back of

0:55.0

stronger than expected results actually and one of the big market winners of the

0:59.2

week the CEO Taser Maker Axon joins us With that stock up more than 20% since Mondays open

1:06.1

after it too reported earnings. But let's begin with our market panel after

1:10.6

this wild week of trading. Joining us now is Kevin Gordon of Charles Schwab

1:14.2

and Jose Rasko of H.S. B.

1:16.1

Private Banking and Wealth Management.

1:17.9

Good afternoon to you both.

1:19.9

Kevin, I'm gonna start with you because we had the worst day for the S&P since 2022 this week.

1:25.9

We had the best day for the S&P since 2022 this week.

...

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