Closing Bell: Rally Rages On, Retail Rebound & Tech Too Cheap To Ignore? 5/27/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 27 May 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks staging a big rally ahead of the long holiday weekend. The Dow snapping an 8-week losing streak and the S&P 500 and Nasdaq ending 7-week losing streaks. Ironsides Macroeconomics Barry Knapp discusses whether the market has bottomed following a new report showing inflation is slowing, but Interactive Brokers' Steve Sosnick thinks there could be more downside. Investor Eric Jackson reveals the three tech stocks he says are too cheap to ignore. Charter Equity Research's Ed Snyder discusses whether investors should buy Apple's rebound. Energy also moving sharply higher this week. OPIS Global Head of Energy Analysis Tom Kloza discusses if there is more upside for energy prices. And Oppenheimer's Rupesh Parikh and BMO Capital's Simeon Siegel discuss the week's mixed bag for retail earnings and debate their opposing views on Ulta, which soared following its results. 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 rallying and putting the Dow on track to finally snap that eight streak,
0:04.3	eight week losing streak on new signs inflation may be slowing the most important hour of
0:09.5	trading starts right now. Welcome to the closing bell. I'm Scott Wapner in today for
0:13.7	Sarah Eisen. Let's take a look and see where we stand with one hour to go in this
0:18.4	trading week. You can see we've had a nice day of going and we are holding
0:22.0	on to those gains. there are a lot of
0:23.4	superlatives you could say when the dowel is holding on above 33,000 it's been an
0:28.2	obviously strong week for stocks but if you really put into focus the fact of where we came
0:34.8	from the intraday lows on last Friday dows up better than seven and a half almost
0:38.4	8 percent so that's the market picture right now technology real estate
0:42.0	consumer discretionary are
0:43.6	leading the gains today. All 11 sectors are in the green. Tech is having a
0:48.0	huge week and coming up. Investor Eric Jackson gives us his outlook for that
0:52.1	sector and the three stocks he
0:53.9	thinks have never been cheaper. Let's get into the market right now. Stocks seeing a
0:57.8	lot of boost today following some new government data that shows the pace of
1:01.9	inflation slowed in April.
1:03.3	The NASDAQ got more than 2.5 percent making new session highs.
1:07.0	And new note though from City today says it is time to get defensive on U.S. equities.
1:12.2	Let's bring in Jason Pride from Glen Mead and Barry Knapp from Ironsides
1:16.3	macroeconomics. Guys, it's great to see you. Barry, to you first, are we putting together
1:20.3	something here to build on? Are we just thinking of false hopes?
	...

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