Closing Bell: Seasonality Reality 9/22/23
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 22 September 2023
⏱️ 43 minutes
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| 0:00.0 | Welcome to a closing bell, I'm Mike Santoli in for Scott Wopner here at Post 9 at the New York Stock Exchange. |
| 0:05.1 | This make or break hour begins with stocks tentatively seeking firmer footing after a jarring week. |
| 0:10.8 | The major index is struggling to stay in the green most of the day |
| 0:14.3 | as the breakout in bond yields this week. Stokes economic concerns. Treasury yields |
| 0:19.8 | are calmer though on the day and oil prices are quiet. |
| 0:24.6 | Coming up, Citi out with a new bullish call on Meta. |
| 0:27.8 | We'll talk to the analyst about why he's optimistic about that name. |
| 0:31.9 | This brings us to our talk of the tape. |
| 0:34.0 | Our stocks close to completing a standard seasonal pullback |
| 0:38.0 | or is there more payback to come as higher rates test the economy's |
| 0:41.0 | resilience. |
| 0:42.0 | Here to discuss all that is Greg Branch, Veritas Financial Group Managing Partner. |
| 0:46.0 | Greg, it's great to have you here. |
| 0:48.0 | Good to be here, Mike. |
| 0:49.0 | You know, you have been in the hire for longer on rates camp for a while also feeling like the |
| 0:54.1 | stock market wouldn't necessarily be able to handle it all that easily what is |
| 0:58.6 | this week told you about the resilience of the market in the face of higher |
| 1:02.3 | rates where rates are going and what it all means. |
| 1:05.0 | Right, so one of the issues I've had this year with the barest posture Mike and I didn't maintain that because of an obstinate, I probably am, but the reason that I've maintained it is that I've been higher than the higher and longer than the longer and |
| 1:19.6 | So the market is just starting to catch up with my high, right? |
| 1:24.4 | A year ago when I declared my terminal rate at 6%, |
| 1:28.3 | to put it diplomatically, that was highly scrutinized. |
... |
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