Closing Bell Overtime: Wall Street’s Big 2-Day Rally 10/4/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 4 October 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s been a dramatic two-day move higher for stocks. But does it mean the lows are actually in? Joe Terranova gives his take. Plus, shares of Twitter soared in today’s session as Elon Musk has revived his bid to buy the company. Platform’s Casey Newton weighs in on what’s at stake and what it could mean for the stock. And, Fundstrat’s Mark Newton says the Q4 bounce back is just getting started – he makes his case. 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.
0:02.2	And welcome everybody to overtime.
0:03.7	I'm Scott Wachney.
0:04.4	You just heard the bells.
0:05.1	We're just getting started right here
0:06.9	from Post-9 at the New York Stock Exchange
0:08.9	in just a little bit.
0:10.1	I'll speak to a market watching who says this rally could go another 10 to 15 percent higher from here
0:16.4	Plus the latest of course on the Musk Twitter deal that's about to go down and at the original price
0:22.3	We begin though with our talk of the tape.
0:23.8	This dramatic two-day move for stocks,
0:26.4	whether it means the lows are firmly in,
0:28.1	at least for the remainder of this year.
0:30.2	Let's ask Verdes Investment Partners,
0:31.8	chief market strategist Joe Terranova.
0:33.7	He is here with me at post night. It's good to see you again.
0:36.0	Quite a move. 5% this week for stocks, legit. Is it different than the other
0:42.4	rallies that we've had or what?
0:44.0	Well, we tried this in early September.
0:46.0	Remember going into that C. P. I report, the market rallied aggressively and failed.
0:49.8	This does feel a little bit different.
0:51.2	It feels a little different.
	...

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