Closing Bell Overtime: White House’s Jared Bernstein On POTUS Joining UAW Picket Line; Connecticut AG On Why He Is Part Of FTC’s Lawsuit Against Amazon 9/26/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 26 September 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

White House Council of Economic Advisors Chairman Jared Bernstein on President Biden joining the UAW picket line today. Amazon shares fell after the FTC, along with 17 states, announced a monopoly lawsuit against the company. Dealmaker and TMT banker, Guggenheim’s Eric Mandl, on what effect the lawsuit will have on M&A. Connecticut AG William Tong, one of the states joining the lawsuit, makes the case. Meanwhile, it was the worst day for the Dow since March. Vital Knowledge’s Adam Crisfulli and Raymond James’ Matt Orton break down the market action. Earnings from retail giant Costco along with instant analysis from CFRA analyst Arun Sundaram. Real estate company Ferguson stock pops on earnings; CEO Kevin Murphy joins to break down the numbers and talk what he is seeing in his sector. Cloud computing company Nutanix announced higher long-term sales and free cash flow targets. Jon speaks with CEO Rajiv Ramaswami on what’s behind the increase.

Transcript

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0:00.0	Ouch, saved by the bell maybe?
0:03.0	Well, there's your score on Wall Street.
0:04.7	Winner stay late.
0:05.4	Welcome to Closing Bell Overtime.
0:06.5	I'm John Fort back with Morgan Brennan here on set.
0:09.6	And we've got full team coverage of today's sell-off coming
0:11.9	your way, plus what you do tomorrow.
0:13.5	Also ahead on the show Connecticut's attorney general joins us to break down why his state is joining
0:18.7	the FTC's lawsuit against Amazon as those shares tumble today.
0:23.0	Plus, Guggenheim dealmaker Eric Mandel tells us if the latest regulatory probe will
0:28.5	deter M&A in the tech space and we are awaiting earnings results from Costco
0:33.4	do out any minute, following a weaker than expected
0:36.3	consumer confidence print earlier in the session.
0:38.8	We're going to bring you the results and the instant reaction.
0:42.0	We begin the market with the market though
0:44.8	and another rough session on Wall Street is the September sell-off intensifies.
0:48.0	The S&P 500 now sitting at its lowest level since June as yields sit near their
0:51.6	highest level in 15 years.
0:54.3	Let's bring in senior markets commentator Mike Santoli at the New York Stock Exchange.
0:58.9	Mike, I mean rough session for the S&P, but the Dow also having its worst day since March.
1:05.0	Sloppy, I think that's the word you've been using today.
1:08.0	Yeah, it has been.
	...

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