Closing Bell Overtime: Wes Edens On Brightline Opening Its Miami-Orlando Final Leg; Super Micro CEO On The AI Gold Rush 9/22/23
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 22 September 2023
⏱️ 44 minutes
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| 0:00.0 | Not a great close, a great week for the Bulls, that's a scorecard on Wall Street, but the winners stay late. |
| 0:06.2 | Welcome to Closing Bell overtime. I'm John Fort with Morgan Brennan and coming up this hour could crude be heading to $150 per barrel. |
| 0:15.5 | That's what J.P. Morgan says in a new call. |
| 0:18.2 | We'll ask RBC's energy expert Heli McCroft, if she agrees. |
| 0:21.8 | Plus, we'll talk to the CFO of 100 billion dollar defense giant Lockheed Martin |
| 0:26.7 | about how government shutdown would impact the airspace and defense sector. |
| 0:30.8 | But first, let's get to our market panel as we wrap up a rough week on |
| 0:34.5 | Wall Street for the Bulls. The NASDAQ composite down more than 3.5% for the |
| 0:38.8 | week. The S&P down 3, the Russell's down 3, 2, the Dow faring a little bit better, slipping about 2%. |
| 0:46.2 | Joining us now is Darrell Kronk of Wells Fargo and John Porter of Newton Investment Management. |
| 0:53.0 | Guys, welcome, happy Friday. |
| 0:55.0 | Darryl, so consumer services, retail, financials all not fairing well today. |
| 1:00.0 | We got another week of trade before a potential government shutdown. |
| 1:03.7 | Buying opportunity? No. |
| 1:07.0 | Probably not yet, John. We don't see the risk reward dynamics terribly favorable here. |
| 1:11.7 | To your point earlier on the week, I mean this will go down as the |
| 1:14.6 | toughest week we've had since March. So I think you've got a real battle line |
| 1:19.2 | being drawn right now between Goldilocks and the soft landing long positions and those that have to |
| 1:26.2 | wrestle with kind of the three bears, right? Oil being too hot, earnings being too |
| 1:30.9 | cold and maybe interest rates being just right for trying to find an equilibrium in here somewhere |
| 1:35.9 | Either way one of those factions are going to win certainly the three bears won this week, but we'll see how it goes forward here. |
| 1:42.8 | That's a whole different fairy tale if you got to wrestle with those bears for sure. |
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