Closing Bell Overtime: Stocks Slide As Geopolitical Worries Intensify; Richard Haass On Middle East Tension 4/15/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 15 April 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks gave up early gains and the major averages closed lower with the Dow posting its largest intraday swing since March 2023. 3Fourteen Research founder Warren Pies and The Bahnsen Group’s David Bahnsen break down the market action while Hamilton Lane co-CEO Erik Hirsch on how private markets are reacting to the geopolitical turmoil. T. Rowe Price’s Dom Rizzo on top tech picks while Richard Haass talks Israel’s potential next moves.

Transcript

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0:00.0	A 600 point swing for the Dow is rising geopolitical risks send the Blue Chip
0:06.9	index lower for a sixth straight day that's a scorecard on Wall Street but
0:11.0	winter stay late welcome to to Closing Bell overtime.
0:12.8	I'm John Fort with Morgan Brennan.
0:14.5	Treasury yields spiking again
0:16.6	as the 10 year hits the highest level since November
0:19.6	amid escalating tensions between Israel and Iran.
0:22.3	Also some stronger economic data with retail sales here today.
0:26.2	But coming up, Council on Foreign Relations President Emeritus.
0:29.6	Richard Haas, on whether the conflict in the Middle East will be resolved will be
0:34.2	de-escalated and what that could mean for the market.
0:37.0	Plus the top tech portfolio manager on where he sees buying opportunities in
0:40.9	the sector which is one of the worst performing today and let's
0:44.4	break down today's action with our first guests. Joining us now is Warren Pies
0:48.0	from 314 Research and David Bonson from the Bonson group guys welcome
0:52.1	Warren so first time we've had a Monday down 1%
0:57.8	plus on the S&P 500 in more than a year what kind of action do you see,
1:03.8	particularly in the relationship between stocks and fixed income?
1:09.0	Yeah, thank you for having me.
1:11.2	This has been, really we go back to the second half of last year. There was a tight
1:16.8	relationship between stocks and yields and essentially when stocks and bonds were tied at the hip
1:24.2	until we entered 2024 and we've had this kind of divergence
	...

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