Closing Bell: Preparing for a Momentum Meltdown 3/11/24

Closing Bell

CNBC

Business, News

4.8 • 118 Ratings

🗓️ 11 March 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Should investor brace for a momentum meltdown ahead? Liz Young from Sofi, Emily Roland from John Hancock and CNBC’s Mike Santoli give their forecasts. Plus, tech insider Lo Toney of Plexo Capital weighs in on the upcoming Reddit IPO, the run in tech stocks and what Nvidia’s slide might mean for the sector going forward. And, top technician Chris Verrone is flagging two big opportunities outside of tech.

Transcript

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0:00.0	All right, guys, thanks so much.
0:03.0	Welcome to Closing Bell.
0:04.0	I'm Scott Wobner live from Post Nine, here at the New York Stock Exchange.
0:06.8	This make a break hour begins with the state of stocks.
0:09.0	And whether the rally is changing shape from leaders to laggards.
0:12.8	From an NVIDIA and Meta Market to an Apple and Alphabet one,
0:15.9	we're gonna ask our experts over this final stretch,
0:18.0	including Top Tech Insider Low Tony.
0:20.4	In the meantime, your scorecard was 60 minutes to go and regulation looks like this
0:24.3	an eye towards tomorrow morning CPI is clearly what seems to be driving trading in today's session
0:28.8	no big bets being made either way rates holding steady after a midday bond auction, and then there is NVIDIA.
0:36.1	It's always notable.
0:37.1	It is once again as we watch that stock closely following its big Friday fall.
0:41.4	Some key earnings in overtime tonight including Oracle
0:43.6	we're gonna get you set up for that too in just a little bit. We begin
0:46.8	though with our talk of the tape whether investors should prepare for an even
0:50.0	bigger momentum meltdown. Let's ask Liz Young so so far as head of investment strategy with me here
0:55.0	at Post-9. Nice to see again. You too. Welcome back. That seems to be where the conversation is whether
1:00.0	momentum, the momentum trade has run out of steam and now we're going to see this
1:05.7	rotation into laggards what do you think if we're talking about the momentum trade
1:10.3	as the Magnificent seven of 2023 and the big tech names that brought us into
1:14.8	2024 then yes I think it already has run out of steam I think that boat had that
	...

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