Closing Bell: Rally gains steam, Musk makes a deal, Hasbro CEO’s growth plan 10/4/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 4 October 2022

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

U.S. markets saw another sharp rally, building on Monday’s strong gains, with every S&P 500 sector closing in the green and the Nasdaq climbing more than 3%. Holly Newman Kroft from Neuberger Berman and Sameer Samana from Wells Fargo break down the 2-day rally and what they’re advising clients to do now. Twitter shares exploded higher after Elon Musk notified the company he intended to close his deal at the original offer price of $54.20 per share. Analyst Brent Thill joins to discuss what the news means for the future of the company. And the CEO of Hasbro talks about the company’s growth plan following its investor day. 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	Stocks are surging again as this two-day bounce back gain steam.
0:03.5	This is the make-or-break money hour for your money.
0:06.5	Welcome to Closing Bell, I'm Sarah Eisen.
0:08.2	Take a look at where we stand right now in the markets near the highs.
0:10.8	We're up 767 points.
0:12.4	Every Dow stock is higher at the moment.
0:14.8	The S&P 500 up 2.85%, adding to gains for the week
0:18.8	which now stand at up 5.5% for the S&P 500.
0:23.0	Nasdac is leading the charge.
0:24.7	It's up more than 3% tech making a big comeback.
0:27.3	Basically, the spots in the market
0:29.5	that have been hit the hardest in the spare market
0:31.7	are rebounding the hardest right now. The cruise lines are leading the
0:34.3	S&P up double digits. Some of the big tech players are having a really strong
0:38.2	session like Amazon and NVIDIA and Apple. Here's the S&P 500 Heatmap, we'll show you because it shows just how broad
0:45.3	this rally is today. Very few winners. Every sector is stronger on the session right now.
0:51.2	Energy's at the top of 4%. Consumer discretionary
0:54.3	though up 3.5, so are materials. Worst performing group are you are looks like
0:59.2	real estate now and that's still up 1.3%. We're going to be all over the rally for you throughout the show.
1:04.0	Also coming up this hour we've got two CEOs with reads on consumer spending.
1:09.0	We're going to talk to HP Boss Enrico
1:11.0	Lores about the outlook for PCs and hardware in this hybrid work environment.
	...

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