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Closing Bell

Closing Bell: Room for a Year-End Run? 10/10/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 10 October 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

How much room is there for stocks to make a run into year end? New York Life Investments’ Lauren Goodwin and Schwab’s Liz Ann Sonders give their expert forecasts. Plus, Shannon Saccocia from NB Private Wealth is breaking out her playbook for earnings season and beyond. And, David Albrycht of Newfleet Asset Management tells us how he is navigating today’s sharp decline in yields.

Transcript

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0:00.0

All right, guys, thanks so much. Welcome to Closing Bell. I'm Scott Wabner live from Post 9 here at the New York Stock Exchange.

0:05.6

This make or break hour begins with a big bounceback for stocks, a drop in rates easing investor anxiety,

0:11.2

at least for the moment.

0:12.9

Some of that might be due to the recent Fed speakers.

0:15.5

And speaking of Neil Kashkari delivering remarks this hour,

0:19.3

we're gonna have those breaking headlines

0:20.7

from our own Steve Leisman when they hit right around 330, so about 30 minutes

0:24.6

from now. In the meantime, your scorecard with 60 minutes to go in regulation.

0:28.8

Dow Higher on what's been a pretty broad day of gains.

0:31.8

All S&P sectors have been in the green

0:33.8

for much of the section,

0:35.1

much of the session.

0:37.2

And there you go.

0:37.8

And that is still the case now.

0:39.1

Russell 2000, though, it's the big outperformer

0:41.5

as small caps to continue to get a much needed boost.

0:44.8

The index now up for the past five straight days.

0:48.2

And as for tech, today the NASDAQ 100 getting back above its 50 day moving average on an intraday basis alphabet hitting a new high today and some of that coming with that lower rate move as well take a look at the picture in yields because just about everywhere you look on the curve today they are

1:04.8

falling. There's red across the board showing that story well. Takes us to our talk of the tape. How much room is there for stocks to make a run into year end?

1:13.7

Let's ask Lauren Goodwin of New York Life Investments here at Post-9th.

1:17.1

Nice to see you.

1:18.1

I mean, that's what some people are talking about, that we're set up, we're setting up

...

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