Closing Bell Overtime: Stocks End Wild Week in the Red 10/14/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 14 October 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets finished out a wild week lower … so what might next week hold for your money? Vantage Rock’s Avery Sheffield gives her forecast. Plus, Fundstrat’s Tom Lee says stocks may be bottoming. And, market expert Mike Santoli weighs in on the stunning market swings in his final Last Word of the week. 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	Welcome everybody to overtime. I'm Scott Wabner, you just heard the bells on this Friday. We are just getting started from Post 9 here at the New York Stock Exchange in just a little bit. I'll speak to Star Tech analyst Dan Ives on all things must from the latest on the Twitter deal to
0:14.3	Tesla's earnings next week and whether more major stock sales are coming.
0:18.9	If you own shares you can't afford to miss that conversation and we begin though with our talk of the tape,
0:23.7	that massive rally followed by today's reversal.
0:26.3	And what next week might hold for your money
0:28.4	with earnings really getting going?
0:30.6	Avery Sheffield is here with me at post-9 we're going to get to all of that in just a moment.
0:36.0	I do want to continue with this breaking news though and yet another Fed official violations of trading rules.
0:44.4	Our Steve Leisman is back on the newsline with us.
0:46.4	Steve, you've had a chance to go over this and think about it.
0:49.5	What do we know at this particular time?
0:59.0	I'm upset President Raphael. know at this particular time? The President Robert Bostick Scott is revealing that he had trading violations, trades have violated the's trading policies.
1:03.7	These violations extended during the full five years of his presidency and they were
1:08.1	founded of the Fed's new review process which was implemented, what was adopted in February of 2022. The Inspector
1:16.2	General now is reviewing these trades. We understand there were three violations
1:20.4	specifically. He held more than $50,000 in treasuries he had extensive
1:24.6	trading during the blackout periods and omitted substantial number of
1:28.4	transactions from the disclosures now
1:30.8	plastic explanation he regrets these trades, says they were inadvertent, they were carried out, he said, by a third party financial advisors, not directed by him or his personal financial advisors he said he did not personally
1:44.8	direct the trades that were in violation the Atlanta the
1:49.2	directed chairman of the Atlanta Federal Reserve Board of Directors which basically
1:54.8	runs the bank or a Bostick serves at their pleasure said they accepted his
	...

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