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Closing Bell

Closing Bell Overtime: What Happens Next For Oil Prices; Top Tech Picks Heading Into Earnings 10/13/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 13 October 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Stocks finished mostly lower today although still higher on the week – except the Nasdaq. Solus’ Dan Greenhaus and GenTrust’s Mimi Duff break down the market action. CFRA’s Ken Leon on the bank earnings coming next week and the lessons from today. EMJ Capital Founder Eric Jackson on his favorite tech picks heading into earnings season. Bespoke’s Paul Hickey on the sectors that could outperform during earnings. Plus, RBC’s Helima Croft breaks down the big move in oil this week and what’s next for Iranian and Russian sanctions.

Transcript

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0:00.0

Thank you Scott and that is the scorecard on Wall Street. A little more red than green but the action just getting started because welcome to Closing Bell overtime.

0:10.5

I am Brian Sullivan, Morgan, John, Mike are all out. Somebody alert the authorities.

0:16.3

Anyway, let's dive in a big day for big banks.

0:19.5

J.P. Morgan, Wells Fargo, Citigroup, making investors money today on strong earnings

0:24.0

and coming up a top bank analyst on what those three could mean for other banks

0:29.0

next week. It is not just banks either investor Eric Jackson here on what tech stocks he thinks are the most attractive right now

0:37.2

including one I think is really surprising

0:39.5

Is that sector gets ready to unveil their numbers as well.

0:43.4

So as we kick it all off on this Friday and interest rates by the way,

0:46.8

continue to rise, where is your money heading from here?

0:50.4

Joining us now on set is Solis, Chief Economist and

0:52.8

strategist Dan Greenhouse and Gen Trust Managing Director Mimi Duff,

0:57.2

Mimi I'll kick it off to you first.

0:58.8

Listen, tiny sample size, a couple of banks and progressive insurance, but so far, and it's early, I know,

1:05.2

it's the appetizer.

1:06.7

Are you happy with what you have seen from earnings?

1:10.2

To your point, it is the appetizer.

1:12.1

It was delicious today. I think there's a lot more in this earning season and some of the things that we're going to be looking at as a previous speaker mentioned, the regional banks next week how they're hanging in how

1:25.8

do the consumers look what types of losses they might or impairments might have been

1:31.5

experienced and then in a broader picture to what extent can

1:35.9

margins hang in thus far corporates have been able to pass along the the price

1:41.1

increases and we want to be able to see to what extent that is sustained

...

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