meta_pixel
Tapesearch Logo
Log in
Closing Bell

Closing Bell Overtime: Trump Ramps Up Powell Pressure; Apple’s AI Moment 1/12/26

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 12 January 2026

⏱️ 43 minutes

🧾️ Download transcript

Summary

David Zervos of Jefferies digs into the news that the DOJ has opened a probe into Fed Chair Powell and the market reaction. Omar Aguilar, CEO and CIO of Schwab Asset Management, talks the broader market landscape. Steve Biggar of Argus talks a potential cap on credit card interest rates and bank earnings. Apple’s uneven start to the year and its push into AI, with Dan Ives of Wedbush explaining why this is a pivotal year for Tim Cook.

Transcript

Click on a timestamp to play from that location

0:00.0

And that is the end of regulation, riskified, ringing the closing belt, the New York Stock Exchange, BlackRock, doing the honors at the NASDAQ.

0:09.8

And happy Monday, everybody. It was a huge turnaround for the markets and your money today. Now, you look at the final numbers and you say, what's the big deal?

0:18.4

The down and up being up just shy of 100 points. Not a big gain, but consider

0:23.1

the index was down about 500 points at the lows of the day. The other major averages also higher,

0:29.4

the NASDAQ higher, by about one quarter percent. Oh, the NASDAQ 100, by the way,

0:34.4

adding Walmart to that index, Walmart shifting its listing to the NASDAQ.

0:40.4

Consumer Staples, your market leaders today.

0:42.7

Tech materials also higher.

0:44.6

And despite some concern about gold and silver falling to begin the year, not the case today.

0:50.7

They both popped.

0:51.8

Gold hitting another record and now over 4,600 per ounce.

0:56.3

That is the first time ever. Silver, not to be outdone, now above $85.

1:01.5

One year ago, silver sat at just $30 an ounce. If you own silver, you've minted gold.

1:08.7

A rough day for the financials. President Trump is surprising a lot of

1:12.3

investors and maybe no doubt a bunch of credit card executives by threatening to throw a cap on

1:18.3

credit card interest rates. That cap would be just 10% well below what the current highest rate is.

1:25.0

It is one that could impact many of those points and those perk programs

1:28.8

that you may love. MX shares that about 4%. We'll get much more on that and more all throughout

1:34.7

the hour. Welcome to closing bell overtime, everybody. That is your scorecard on Wall Street.

1:39.9

I am Brian Sullivan and the big story today, a criminal investigation into the Federal Reserve

1:45.2

and its chair, Jerome Powell.

1:47.6

Is this about building an office renovation or the end of Fed independence?

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.