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Closing Bell

Closing Bell Overtime: Time to Get More Positive on Stocks? 1/12/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 12 January 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Another CPI report shows that inflation is cooling … and the Fed is still talking tough. So what’s next for stocks? Charles Schwab’s Liz Ann Sonders gives her take. Plus, Wells Fargo’s Mike Mayo breaks down what investors should be watching from big bank earnings. And, Solus’ Dan Greenhaus gives his forecast for earnings season. 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

All right, sir, thank you very much and welcome to overtime.

0:03.8

I'm Scott Wopney, you just heard the bells.

0:05.2

We're just getting started from Post-9 here at the New York Stock Exchange.

0:08.8

In just a little bit, I'm going to speak the Star analyst Mike Mayo on which bank stock is going to do best

0:13.7

after their earnings tomorrow morning and which ones of course might struggle.

0:17.8

After those reports hit the tape.

0:19.2

We begin though with our talk of the tape.

0:21.6

Now what?

0:22.4

After another

0:23.0

CPI report shows inflation is cooling. The Fed's still talking

0:26.6

tough today but stocks rising anyway especially into the close here. Is it a

0:30.4

sign to get more positive on the markets.

0:33.0

Let's ask Liz Ann Saunders, she is the chief investment strategist for Charles Schwab.

0:38.0

Welcome back. Happy New Year.

0:39.0

It's nice to see you.

0:40.0

Happy New Year to you too, thanks Scott.

0:42.0

All right, so what do you think about the report today and the way stocks reacted here?

0:47.0

So I think it was less about the headline.

0:50.0

Pretty much every metric that came out in the release was in line with expectations.

0:55.2

I think what generated a lot of enthusiasm were the variety of three month annualized

1:01.3

trackings that people calculated on everything from just overall

1:06.0

C. P. C. P. P. And in particular, Services X Rent, where that three month annualized move now has a one handle on it.

...

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