Closing Bell Overtime: U.S.-China Deescalation Boosts Stocks; NEC Director Kevin Hassett On Deal Talks 5/12/25

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 12 May 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On a pivotal day for Wall Street, Julian Emanuel of Evercore ISI joins to break down what he’s buying as the market rallies on trade talk optimism with China. Marko Papic, Chief Strategist at BCA Research, weighs in the geopolitical environment, followed by NEC Director Kevin Hassett on how negotiations are going with China and other countries, as well as budget talks and President Trump’s executive order on pharma. Steve Sosnick, Chief Strategist at Interactive Brokers, analyzes the afternoon rally.

Transcript

Click on a timestamp to play from that location

0:00.0	Well, that bell marks the end of regulation, fidelity investments.
0:04.0	We're going to close the bell for New York Stock Exchange.
0:06.0	Zoom info doing the honors at the NASDAG.
0:09.0	Now let's get to today's scorecard.
0:10.0	Bulls took the day by the horns as the US and China agreed to a 90-day tariff pause.
0:15.0	The Dow up, let's see.
0:18.0	I mean, 1160 points over 2.5 half percent nearly 3 percent the S&P 500 up more than 3 percent above 5800 and the NASDAQ composite up 4 percent above 18,000 highest level in more than two months.
0:35.6	Tech was your leading S&P sector up 4%
0:39.2	semi-stock surging the socks et fosting its best day since early April and the
0:43.8	invidia and Intel outperforming consumer discretionary getting a pop hotels
0:48.2	cruises casinos in the green carnival and Norwegian both up more than 7% and the
0:53.5	mag 7 names all in the green, adding $800 billion
0:57.3	in market cap.
0:58.7	That's their largest collective move since April 9th.
1:01.9	Tesla now back above the trillion dollar market cap mark.
1:05.6	That's up 100 bucks a share from those April 8th lows.
1:08.8	And welcome to closing bell overtime.
1:11.6	I'm Morgan Brennan,
1:17.6	along with John Fort. We have a big hour coming up on all angles of the tentative trade deal with which sense those stocks soaring. We're going to get the Trump administration's take on the deal with
1:22.5	NEC director Kevin Hassett, Treasury Secretary Scott Bessent calling it a strategic uncoupling from China
1:29.5	just earlier today. But the devil is in the details. And so far, we are still missing some.
1:35.2	Marco Pappich of BCA research will be here to tell us why markets may be getting ahead of themselves.
	...

Please login to see the full transcript.

Previous episode | Next episode

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.