Closing Bell Overtime: Yields Test The Bulls; SpaceX IPO In Focus 5/19/26

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 19 May 2026

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our Kristina Partsinevelos breaks down why chips look overbought and overstretched and what it means for the broader AI trade. Brij Khurana of Wellington Management explains the latest move in bond yields and what fixed income markets are signaling about growth and inflation. Eric Johnston, Chief Equity and Macro Strategist at Cantor Fitzgerald, assesses the broader market backdrop and where investors should position next. Google takes center stage after its latest I/O event. Our Mackenzie Sigalos is live on the scene, highlighting highlights key announcements while Mark Mahaney of Evercore discusses Google’s push deeper into AI and why the stock is approaching a $5 trillion market cap. Plus, China’s humanoid robot push. Our Eunice Yoon reports on a new robotics school designed to accelerate development. Chad Anderson of Space Capital previews a possible SpaceX IPO prospectus and what it could mean for private markets and investor demand. Finally David Bellinger previews earnings from Target and Walmart and what they could reveal about the state of the consumer. Our Contessa Brewer closes the show with the latest on Polymarket’s deal with Nasdaq and the growing role of prediction markets in finance.

Transcript

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0:00.0	The bell is bringing it into the trading day at the NYSC Bread Financial, ringing the closing bell, and at the NASDAQ CareCloud doing the honors.
0:10.8	Boyd to the closing bell overtime, live from Studio B at the NASDAQ market site.
0:14.5	I'm Mike Santoli.
0:15.6	Melissa Lee is off today.
0:17.5	Stock's down for the third straight day.
0:19.6	The Dow off by 300 points. The S&P 500 and NASDAQ,
0:23.6	both down by more than half a percent. For both those indexes, it's the first three-day skid since the end of March.
0:29.6	Bond yield is also a big story today, the two-year, which is most sensitive to expectations about the Fed moving higher,
0:36.6	the 10-year getting back to levels
0:38.2	not seen since January 2025, and the 30-year at highs dating back almost 20 years, highest
0:44.8	level since July of 2007 as the yield nears 5.2 percent. Chip stocks were under pressure earlier
0:52.0	in the session, but the SMH ETF bouncing off its lows,
0:55.4	still closing with a small loss. And of course, it comes ahead of Nvidia's results due out tomorrow.
1:01.0	Christina Parks and Nevel is joining us with more on the chip trade and how it fits into this market action.
1:05.7	Yeah, I'm going to just go back to that, the fact that you saw a comeback after an early sell-off.
1:10.6	And that really shows the resilience
1:12.6	in the market. And I speak to the Vanac semiconductor ETF. It was down slightly on the day,
1:17.5	but Intel, Micron, and EMD really tried to claw back after falling down roughly 10% over the last
1:22.7	week. The optical names still struggling. These are high momentum stocks like coherent, optico, electronic,
1:29.5	still negative, and they're always prime targets in the momentum on wind, why they've been lower the last two days.
1:35.3	Semiconductors and why some of any of our audience members want to ask, why do we talk about all the time?
1:38.8	Because it makes up roughly 18% of the S&P 500, the single most important group in the index,
	...

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