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Closing Bell

Closing Bell Overtime: Where are stocks headed? Breaking news from the Fed 5/12/22

Closing Bell

CNBC

News, Business

4.4140 Ratings

🗓️ 12 May 2022

⏱️ 50 minutes

🧾️ Download transcript

Summary

The Nasdaq Composite eked out gains into the close. Stephanie Link from Hightower says the playbook has changed, but opportunities remain. Plus, Anthony Scaramucci from SkyBridge Capital says despite the recent collapse in cryptocurrencies, he has not sold one crypto position. And, Joe Terranova from Virtus Investment Partners reacts to breaking news from Federal Reserve Chair Jerome Powell who says, “Executing a soft landing may be beyond our control.” 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

Welcome to overtime everybody. I'm Scott Watney who just heard the bells. We're just getting started right here at Post 9 at the New York Stock Exchange coming up in just a little bit. I'll speak to Funstrats top technician. The man who says the market can't stabilize until a certain stock does.

0:14.0

Noveen's chief investment officer will also be here with what they are telling clients right now.

0:19.0

Volatility continues to dominate the markets.

0:22.0

We do begin though with our talk of the tape.

0:24.3

The starts and stops of an attempted rally,

0:26.4

another turn lower, sort of a comeback at the end

0:29.4

and what all of it means for where your money might go from here. Let's ask Stephanie

0:33.7

Link, she's High Towers Chief Investment Strategist, a member of the

0:36.6

Half-Time Investment Committee and sitting right to my left here at Post-9

0:40.3

at the New York Stock Exchange. It's good to see you here.

0:42.3

Great to be here.

0:43.8

We tried many times today to get something going.

0:46.9

We started to here at the end.

0:48.4

Just give us your view of where we stand now.

0:51.8

Exhausted?

0:52.4

How's that? It is a sell the rat. where we stand now. Exhausted?

0:53.0

Yeah.

0:54.0

It is a sell-the-rout rally kind of a market.

0:57.0

And this week in particular has been really disappointing, Scott,

1:00.0

because we couldn't hold a game, right?

1:02.0

And I think a lot of that has to do with the

1:04.8

CPI and PPI numbers being less accommodative, right, less peakish. And so I

...

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