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Closing Bell

Closing Bell Overtime: Stocks Power Higher As Oil Drops, Strait of Hormuz Opens 4/17/26

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 17 April 2026

⏱️ 44 minutes

🧾️ Download transcript

Summary

Markets stage a rapid recovery alongside a massive move in oil. Keith Lerner of Truist explains the market’s lightning fast rebound and what it says about momentum and positioning. Charles Bobrinskoy of Ariel Investments adds a note of caution, arguing stocks are getting more fully valued even as opportunities remain beneath the surface. Jason Gableman of TD Cowen analyzes oil and energy stocks and where the trade goes next. Priya Misra of JPMorgan Asset Management breaks down moves in yields and what they signal for investors. Will Power of Baird discusses what drove Microsoft’s best week in 10 years.

Transcript

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0:00.0

The bell's bringing in to the trading day at the NYSC Pannicle West Capital and at the Nazak, Al-MAR Biosciences.

0:10.4

Welcome to closing bell overtime. We're live in studio, B at the Nasak market site. I'm Melissa Lee along with Mike Santoli.

0:15.8

Stock soaring today, again, continuing one of the best stretches for the markets in recent years, as Iran says

0:21.7

the Strait of Hormuz can reopen. Today, the Dow is up 900 points. The SAB 500 up more than a

0:26.7

percent. The NASDAQ extending its winning streak to 13 sessions. The Russell 2000, the best of the

0:32.0

bunch, up 2%. This wraps up the third straight winning week for the averages. The NASDAQ gaining more than 6%.

0:38.7

Question we'll be asking our guests this hour. Can this run continue? And I think it's pretty safe to say it will not continue at this particular angle in this uninterrupted way.

0:49.9

Straight up. Straight up without a pause. You know, obviously it's actually a positive.

0:56.0

When we break out to New High, 7,000, the S&P was a ceiling for this market for months.

1:00.1

You have had confirmation from oil down, yields down, volatility down.

1:05.5

Now, over the course of the day, oil, it's like four bucks off its lows to the upside of WTI. It's still down a lot. You did also see some of

1:13.5

the stocks that led us in this rally back away a little bit. And even the S&P just came off the

1:18.8

boil just a touch. So I think you could say, you know, the bull market has been kind of reasserted

1:23.8

here, but it's not clear that we've kind of wiped away all the, all the concerns.

1:29.3

And you almost never do. But it sort of felt a little more all clear than maybe we're comfortable

1:34.4

saying it is. Especially when there are so many uncertainties still. In today's action, we saw a lot

1:39.4

of reflexive trades, rates down, home builders up, oil down, airlines up, you know, that kind of action today. But for the week, we've seen some pretty extraordinary moves for sure. There's no doubt about it. I mean, even coming into today, things like core weave up 50% month to date, that whole food chain. And then today it was just the stuff that hadn't participated, gets an extra little bit of a bid here. Let's get more on today's big market mover.

2:02.0

Sima Modi tracking the action for us.

2:03.7

Seema.

2:04.9

Hey, Mike, a strong rally in the NASDAQ, as you guys were just discussing, the breakout in tech

2:08.9

was widespread, but some of the big winners like Oracle stalling today, still up about

2:14.2

25% for the week.

...

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