Closing Bell Overtime: What Altman’s Return Means for OpenAI Investors & Employees; Gas Prices Hover Near Nov. 2020 Levels—And Could Keep Falling; One (More) Year of Bob Iger 11/22/23

Closing Bell

CNBC

Business, News

4.4 • 141 Ratings

🗓️ 22 November 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sam Altman is back in charge at OpenAI, this time with a new board that include Bret Taylor as chair. Wedbush’s Dan Ives and TechCrunch’s Connie Loizos break down what it means for employees, investors and the AI ecosystem. Plus, averages on pace for their fourth straight weekly gains as investors head into Thanksgiving. G Squared Private Wealth’s Victoria Greene and John Hancock Investment Management Co-CIO Matthew Mishkin break down the market action, including stock drops for Nvidia and Deere. Meanwhile oil slipped after OPEC+ postponed a key meeting; OPIS co-founder Tom Kloza on what it means for the US and prices at the pump. Former Kansas City Fed President Thomas Hoenig on jobless claims and the Treasury curve; CFRA’s Ken Leon on what Disney shareholders should think after one year after Bob Iger’s return.

Transcript

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0:00.0	And we'll see Santoli again in just a bit.
0:02.0	That's the scorecard on Wall Street.
0:03.4	Winners stay laid.
0:04.3	Welcome to closing bell overtime.
0:05.7	I'm John Fort with Morgan Brennan.
0:07.7	Well, ahead this hour, former Kansas City Fed President Thomas Honegg
0:11.4	joins us to talk about the two-month low for 10-year
0:14.1	Treasury yields and how today's jobless claims print informs the Fed's next
0:18.7	decision.
0:19.7	Plus another twist in the Open Aye saga.
0:22.1	Sam Altman is back at CEO there with major changes to the board.
0:26.0	We'll talk about what it all means from Microsoft shareholders and Silicon Valley VCs.
0:31.0	Investors, meanwhile, I have a lot to be thankful for with stocks gobbling more November
0:35.2	gains ahead of the holiday. Communication services, the leading S&P sector today, Meta hitting
0:40.0	its highest level since January 2022. Energy lagging as oil pulls back after OPEC delayed
0:46.8	its next meeting. Joining us now is Victoria Green of G-squared Private Wealth and Matthew
0:51.9	Miskin of John Hancock Investment Management.
0:54.8	Guys, happy early Thanksgiving. Victoria, can we go higher? Must we go lower from
1:00.4	here? Awfully close to 4,600. I think we're going to kind of rally around
1:05.0	this area. 4600 I see that as a ceiling I don't see us pushing up to the 4800s or
1:09.6	new all-time ties before the end of the year. I think the Sator Rally came a little bit
1:13.2	early to us. I just see Yield not being able to back up another 50 basis points
	...

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