Closing Bell: Record-Setting Rally Set to Roll on? 6/7/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 7 June 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Investors still debating the fate of the rally with stocks once again reaching new highs this week. But can the momentum continue? Fundstrat’s Tom Lee and NewEdge Wealth’s Cameron break down what they’re expecting. Plus, their takes on the plunge in Gamestop shares and what they’re watching ahead of Apple’s WWDC. Meantime, Charles Schwab’s Kevin Gordon says now is the time to take profits in the high flyers. He tells us why and where he’s telling clients to put their money to work. And, 3Fourteen’s Warren Pies is changing his stance on the energy space. We drill down on why – and what it could mean for the broader market.

Transcript

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0:00.0	All right, guys, thanks so much. Welcome to Closing Bell. I'm Scott Wobner live from Post 9 here at the New York Stock Exchange.
0:05.0	Let's make a break hour begins with the markets and why Big Time Bull, Tom Lee, says he was buying stocks today no matter what the jobs report said. He's with me momentarily
0:14.8	to explain. We will show you the score card now with 60 minutes to go in regulation.
0:18.9	Major averages, well they've been a bit volatile today with investors deciding whether the better than expected jobs print
0:24.0	was a bit too hot to handle
0:26.0	especially for a market
0:28.0	still pricing in a rate cut later this year
0:30.0	however
0:31.0	5354
0:32.0	it's a good number to watch.
0:33.5	Why?
0:34.5	Because that is the closing high.
0:35.7	We were above that a few moments ago.
0:37.2	We'll track it over the final stretch to see if we can go to the weekend with a new high for
0:41.2	stocks.
0:42.2	Yields, well, they're higher too on the news of the jobs report.
0:45.0	That's had a bit of an impact, as you might imagine on equities.
0:48.0	There you go, 442 on the 10-year.
0:50.0	The big single stock story of the day,
0:52.0	you might have heard about it is Game Stop and that's given
0:54.7	that live stream from the so-called Roaring Kitty Trader.
0:58.1	Those shares though down sharply this hour.
	...

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