Closing Bell Overtime: Trading the Volatility 06/10/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 10 June 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks closing deep in the red to finish the week, with the Dow ending the day down nearly 900 points. Fundstrat’s Tom Lee has previously said inflation had peaked and was betting on a big bounce for the markets… he gives us his fresh take following today’s ugly close. Plus, Pomp Investments’ Anthony Pompliano weighs in on inflation and if bitcoin could be a big hedge. And market expert Mike Santoli’s crucial “Last Word” to wrap up the week. 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	Welcome to overtime everybody on this nasty Friday afternoon. I'm Scott
0:06.0	Wopner. You just heard the bells we are just getting started in just a little bit.
0:10.8	I will speak to Bitcoin big shot Anthony Pompliano about today's
0:15.5	CPI whether claims that the cryptocurrency is one of the best inflation hedges are
0:20.0	just plain wrong we begin though with our talk of the tape.
0:23.8	Whether the Great Fair bounce back is dead and that stocks are now heading back to the
0:27.6	lows of last month, our first guest today has consistently made the case that
0:32.4	inflation had not only peaked but that the
0:34.6	S&P 500 could rise by nearly a thousand points by years end.
0:39.5	He's Tom Lee.
0:40.5	He is Funstrats Head of Research.
0:42.3	Joining me once again live.
0:43.2	Tom it's great to have you back with me. Thank you for coming on today.
0:46.9	Yeah, uh, Scott, good to see you. Not a great day for markets.
0:50.6	No, no. Are you here today to defend your call or to say I was wrong?
0:57.0	Uh, well, a little bit of both.
1:00.0	The last two days have been really ugly for markets and really tough for
1:04.4	anyone trying to defend something looking better in the second half but that
1:09.8	doesn't mean today's CPI report has really negated anything that is underlying supporting a better
1:16.2	second half.
1:17.2	I'd say it's been very disappointing, but today's probably a good example how markets are just losing their patients.
1:24.4	They really do want to see an improvement inflation, but so many things that are driving
	...

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