Closing Bell: Rally On! … Or Rally Soon Over? 10/16/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 16 October 2023

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Where are stocks headed from here? Hightower’s Stephanie Link and Schwab’s Kevin Gordon give their expert forecasts. Plus, Todd Boehly – co-founder, chairman and CEO of Eldridge Industries – breaks down his diverse portfolio and gives his forecast for markets and the economy. And, Cain International’s Jonathan Goldstein explains where he is seeing opportunity in the real estate market despite a slew of big headwinds in the space.

Transcript

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0:00.0	Welcome to Closing Bell. I'm Scott Wobner live in Beverly Hills at the Case Alternative Investment Summit and we have a big exclusive interview coming up.
0:08.0	Billionaire investor Todd Boly of Eldridge Industries will join us in just a little bit to talk about his portfolio and
0:14.1	outlook for the markets and the economy. We can't wait for that. In the meantime
0:18.0	your scorecard with 60 minutes to go in regulation looks like that. Green across the board, Stock Strong all day,
0:24.4	with the S&P looking to build on its two-week winning streak.
0:27.4	Nasdak is the outperformer today and it's interesting because
0:30.5	Apple is not participating. A new report suggesting iPhone sales in China have been
0:35.1	disappointing. Even so, every sector today out of the S&B is higher. It's been a broad-based
0:40.1	rally, even as interest rates have crept modestly higher.
0:43.5	So there's your sector heat map,
0:45.4	but look at what's going on inside the market.
0:47.8	It does take us to our talk of the tape.
0:49.9	Rally on or rally soon over?
0:52.8	Simple question.
0:53.9	Let's ask High Tower Stephanie Link.
0:55.7	She's here with me in Beverly Hills,
0:57.3	also a CNVC contributor.
0:59.4	It's good to see you out here.
1:00.4	Good to see you out here.
1:01.0	How about that question do we rally on or is this rally soon to fate?
1:05.0	I think we rally on.
1:07.0	Seasonally you're in a very strong position into the end of the year.
	...

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