Closing Bell Overtime: The Fed cut debate, Shake Shack CEO on the consumer, Intuit CEO on small business 9/17/24
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 17 September 2024
⏱️ 44 minutes
🧾️ Download transcript
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| 0:00.0 | That bell marks the end of regulation, MSCI, ringing the closing bell at the New York Stock Exchange, |
| 0:04.7 | Verona Pharma doing the honors at the NASDAQ, and stocks trading in a pretty tight range as the Fed meeting gets |
| 0:10.4 | underway, though the S&P 500 did kiss an intraday record and small caps the |
| 0:16.0 | Russell saw some decent gains that is a scorecard on Wall Street but |
| 0:19.0 | winter stay late welcome to close the bell overtime I'm John Fort |
| 0:21.8 | with Morgan Brennan. |
| 0:22.7 | It was like a peck on the cheek. |
| 0:24.1 | Well coming up on today's show, Shake Shack's new CEO Rob Lynch |
| 0:28.2 | joins us to break down today's retail sales data and his read on the consumer |
| 0:31.8 | in his first interview since taking that job in May. |
| 0:34.8 | Plus the CEO of Intuit talks to us exclusively about the company's just announced |
| 0:39.5 | Enterprise Suite. sweet and will the Fed go for a 50 basis point cut tomorrow while New Burger |
| 0:44.7 | Berman president Joe Mato weighs in on the big debate of the moment. |
| 0:48.9 | Now let's get to our market panel Lori Kavasina of RBC Capital Markets, and Adam Kresophuia of vital knowledge. |
| 0:55.7 | Guys, welcome, Lori. Small caps outperformed today, but you say investors shouldn't get used |
| 1:00.3 | to that? |
| 1:01.3 | Look, I think that small caps already have a lot of good news baked in. |
| 1:06.0 | And if you look at valuations, they're basically back to average. |
| 1:09.0 | If you look at positioning, we're basically back to the three-year highs where the small cap out performance trade has topped out in the recent past. |
| 1:15.0 | So we're optimistic that we will get a broadening out in the market. |
| 1:19.0 | We will see small caps do well on a relative basis, but I think that's more of a longer-term call. |
| 1:24.0 | I think for the here and now, what we're concerned about is that an environment where we're constantly |
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