Closing Bell Overtime: UWM CEO & Phoenix Suns Owner Mat Ishbia On Housing Market, Pro Sports Media Rights; IMAX CEO On Taylor Swift’s Record Breaking Weekend 10/16/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 16 October 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks powered higher to start the week despite rising yields. Crossmark Global’s Bob Doll and Richard Bernstein Advisors CEO Richard Bernstein break down the market action ahead of a busy week of earnings. UWM CEO and Phoenix Suns owner Mat Ishbia talks housing market, mortgage rates and the business of pro sports. Sri-Kumar Global Strategist Komal Sri-Kumar on how to play fixed income. IMAX CEO Richard Gelfond talks Taylor Swift’s box office dominance. BMO analyst Evan David Seigerman on the trade in vaccine stocks. Our Kate Rooney on the bounce in bitcoin today and Hugh Son previews what to expect from the big bank earnings this week.

Transcript

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0:00.0	Lots of Green and decisively so. There's your scorecard on Wall Street, but
0:04.4	Winter's stay late. Welcome to Closing Bell overtime. I'm John Fort with
0:07.4	Morgan Brennan and coming up this hour we're going to talk about today's pop and
0:11.0	the geopolitical headwinds that remain for investors when we're
0:14.2	joined by longtime market strategist Komal Sri Kamar. Plus billionaire mortgage
0:19.2	Titan and NBA team owner Matt Ispia will speak with us about rising rates and the impact on the
0:26.2	housing market and later a new era at the box office IMAX CEO Richard Galfond breaks down Taylor Swift's record-breaking weekend on the big screen as her tour film
0:37.0	notches the biggest IMAX musical artist opening ever.
0:41.0	We begin, though, with a market and a strong start to the week for stocks even
0:44.4	as Treasury yields do take a leg higher.
0:46.6	Today's rally comes on the back of two straight winning weeks for the S&P 500 and ahead of a big
0:51.2	week of key earnings from the likes of Bank of America, Goldman
0:53.9	Sachs, Netflix, Tesla, and more.
0:56.6	CNBC's senior markets commentator Mike Santoli joins us now from the New York
1:00.0	Stock Exchange.
1:01.0	Mike as we see stocks settle here, it looks like the S&P at 4373.
1:05.0	We did test last week's high in the trading session,
1:09.0	but bounced back below that again.
1:11.0	Yeah, just a touch, Morgan.
1:12.0	So sometimes it does have to knock on that again. Yeah just a touch Morgan so sometimes it does have to
1:14.0	knock on that level a few times before really getting through it. It's really
1:17.5	above 4400 that would be a little more of a decisive recovery and kind of
	...

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