Closing Bell Overtime: Why Trillions Of Dollars Of Dry Power Are Still On The Private Equity Sidelines & How Much Higher Can NVIDIA Stock Surge? 5/18/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 18 May 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks closed near session highs, after surging into the close. That makes back-to-back positive sessions for the major indices. Ariel Investments’ Charlie Bobrinskoy and Citi’s Scott Chronert talk the market action. NVIDIA touched a 52-week high as its roll continues. Bernstein’s senior research analyst Stacy Rasgon breaks down much more room there could be to run for the high-flying stock. Betterment CEO Sarah Levy on the impact of the regional banking crisis on fintech. Raymond James’ Sunaina Sinha Haldea on why there are still trillions of dollars in dry powder among private equity firms – and what it might take for dealmaking to return. Plus, former Walmart US CEO Bill Simon on Walmart’s strong quarter and the state of the consumer.

Transcript

Click on a timestamp to play from that location

0:00.0	Well, there's your school card on Wall Street, but winter's
0:03.7	day late, so here you are.
0:04.8	Welcome to Closing Bell Overtime, I'm John Fort,
0:07.0	with Morgan Brennan, and coming up on today's show,
0:10.2	we're going to get a read on chips and the consumer when applied materials
0:14.3	and raw stores report earnings. We're going to bring you the numbers and expert
0:18.5	analysis. Plus we'll talk to the CEO of Betterment, the online investing
0:22.2	platform with more than $35 billion under management,
0:25.6	about her read on the stability of the banking system and the impact on Betterment's business.
0:30.4	But now let's get straight into today's market action joining us now are Charlie
0:34.6	Bobrinskoy from Ariel Investments and Scott Kronert from City Scott
0:40.9	Let me start with you on this one.
0:43.0	So we've got Apple at two and three quarter trillion dollar market cap.
0:48.2	In video has more than doubled year to date.
0:52.1	Microsoft is up near its highs. Is all of this
0:56.9	sustainable given, I mean I know soft landing looks like a strong possibility to
1:01.8	everybody but there are still some
1:03.7	challenges heading into the back of the year as we're seeing in a lot of these
1:07.2	earnings reports. Well I think there's certainly two elements to this right so
1:12.0	number one the growth leadership of
1:14.5	the S&P is pretty clear we think it accounts for nearly all of the move year to date
1:18.8	and it's mostly a multiple expansion move okay much more so than an earnings move.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.