Closing Bell: Rollercoaster Ride On Wall St., Recession Risk & More Twitter Drama 5/16/22

Closing Bell

CNBC

News, Business

4.4 • 140 Ratings

🗓️ 16 May 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

It was another volatile day of trading with the Dow swinging nearly 600 points. Tech stocks dragging down the Nasdaq. Wells Fargo Investment Institute's Darrell Cronk thinks we may not yet be at a market bottom and says investors should be cautious about any near-term rallies. Deutsche Bank's Peter Hooper and Rosenberg Research's David Rosenberg debate whether a recession is looming on the horizon. Elon Musk says his deal to buy Twitter is "not out of the question", but at a lower price. Wedbush's Dan Ives says there is a more than 50% chance Musk walks away from the deal. RBC Capital markets head of Global Commodity Strategy Helmia Croft warns food and energy prices could continue heading higher if the war in Ukraine drags on. And housing expert Ivy Zelman explains why she sees cracks in the foundation for the red hot housing market. 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 mostly higher in another volatile session.
0:02.4	Dows up more than 200 points.
0:04.0	The most important hour of trading starts now.
0:06.3	Welcome everyone to Closing Bell.
0:07.8	I'm Sarah Eisen.
0:08.6	Take a look at where we stand.
0:09.5	We've swung higher for the market after a little morning sell-off this morning.
0:13.8	S&P 500 up about a third of 1%. Keep in mind we had a very strong rally on Friday
0:18.8	but we're coming off of six down
0:23.7	we're the s&P 500. The Nasdek is underperforming today. It's down a third of 1%. Nasd
0:26.2	100 which has a lot of those mega cap tech names down about a quarter of 1%.
0:30.7	Most everything else is higher.
0:32.8	Treasury yields are lower again though.
0:35.0	That's continuing their reversal that we saw last week.
0:37.2	Here's a look at some of the most actively traded names here
0:39.3	at the New York Stock Exchange right now.
0:41.7	Neo continues to be on the list,
0:43.8	and it's having a little surge today,
0:45.2	up almost 4%.
0:46.6	Roblocks hammered off earnings last week,
0:49.6	and then a turnaround.
0:50.9	Ford, which also continues to be among the most active and so does
	...

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