Closing Bell: Rally on the Rocks?

Closing Bell

CNBC

Business, News

4.4 • 139 Ratings

🗓️ 5 January 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s been a slow start to 2024… so what lies ahead for stocks with some critical data and earnings looming next week? Payne Capital’s Courtney Garcia and Stephanie Link of Hightower reveal their forecasts. Plus, long-time bull Tom Lee from Fundstrat is making the case for caution in the first half of this year. He explains why. And, Stempoint Capital’s Michelle Ross is flagging some under-the-radar biotech picks she is betting on.

Transcript

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0:00.0	Welcome to Closing Bell on this Friday.
0:01.4	I'm Scott Wobner live from Post 9 here at the New York Stock Exchange.
0:04.0	This make or break hour begins with the state of stocks.
0:06.7	Given this rocky start to the new year, we're going to ask our experts where things
0:10.6	could go in the weeks ahead, including Tom Tom Lee he's coming up in just a few
0:14.8	minutes in the meantime your scorecard with 60 minutes to go in regulation looks like that's
0:19.5	been a pretty volatile day following that stronger that expected job support but then weaker
0:24.2	ISM services reading so we're in the red modestly so across the board let's zero in
0:30.4	on tech for a moment given the NASDAQ's down about 3% this week. Boy, Apple,
0:35.2	worst performing mega cap this week after a couple of downgrades.
0:38.7	There yields, they've been up and down as well today, and that's a big reason for the gyrations in the major averages we think a jump after the jobs report a fall after that ISM and then another rebound which definitely seems to be hurting equities the 10 10-year now sitting above 4%.
0:54.4	There it is, 404.
0:55.9	It takes us to our talk with the tape, the slow start to 2024,
0:59.4	and what lies ahead with some critical data and earnings looming next week.
1:03.7	It's all coming fast.
1:05.2	Let's welcome in Courtney Garcia, Payne Capital Management,
1:08.0	Senior Wealth Advisor, with me here at Post 9.
1:11.1	Happy New Year.
1:11.6	Welcome back.
1:12.2	Happy New Year, thanks back. Happy New Year.
1:13.0	Thanks for having me.
1:14.0	So what's your big takeaway from the way this year has started?
	...

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