Closing Bell Overtime: Strong Consumer Data Lifts Stocks; Nuclear’s Make Or Break Moment 8/15/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 15 August 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

A strong session for stocks after strong consumer data and results from Walmart – we have you covered on this rally. Bespoke’s Paul Hickey and Citi’s Scott Chronert break it all down. Former Saks CEO gives his take on the spending levels and what’s ahead for the consumer. William Blair’s Jed Dorsheimer breaks down AMAT earnings. Plus, our Pippa Stevens is in Georgia at the first built-from-scratch nuclear reactors in 30 years, reporting on what’s next before PSEG CEO Ralph Larossa talks his company’s plants and what’s going to power growth for the utility giant.

Transcript

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0:00.0	That's the end of regulation.
0:03.8	Human Kind Investments ringing the Close and Bell
0:05.9	the New York Stock Exchange, the New York Bankers Association doing the
0:09.0	honors at the NASDAQ. Retail sales, jobless claims data, getting cheered by the bulls today.
0:15.0	Stocks making sizable moves higher, adding to solid gains on the week, basically closing
0:20.1	at session highs.
0:21.1	The S&P 500 is now positive for the month. We've regained all
0:25.5	the lost ground of recent weeks. That's the scorecard on Wall Street. The
0:28.4	action is just getting started. Welcome to Closing Bell overtime. I'm Morgan
0:32.1	Brennan.
0:32.5	John Fort is off today.
0:34.0	Well, coming up on today's show, former Sacks CEO Steve Stadav joins us with his reaction
0:39.0	to the blowout retail sales print and strong results from Walmart and what they say about the resiliency of
0:44.2	the American consumer. Plus, the CEO of Utility Company, P-S-E-G, which is up 30% this year.
0:51.6	It's trading at record highs. He's going to break down his company's bet on nuclear energy and the big opportunity in powering AI data centers.
1:00.0	Plus, we're awaiting results any moment now from semiconductor equipment
1:04.6	maker applied materials after a big boost for that stock and the whole chip
1:08.4	space in today's session let's get straight to our market panel. Joining us now, Paul Hickey from Bespoke Investment Group,
1:14.6	and Scott Kronert from City.
1:16.6	Great to have you both here.
1:18.5	Paul, I'm going to start with you on this one
1:20.1	because the S&P, as I just mentioned,
	...

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