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Closing Bell

Closing Bell: Second Half Set-Up for Stocks 6/24/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 24 June 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Is the second half set-up favorable for the rally to continue? Solus’ Dan Greenhaus and NB Private Wealth’s Shannon Saccocia give their predictions. Plus, Nvidia sold off again in today’s session after snapping an 8 week win streak. Dan Chung – CEO and CIO of Alger – tells us if this is warning sign for this year’s tech-led rally heading into the second half. And, top technician Jeff DeGraaf called the sell-off in Nvidia. He weighs in on that stock’s move and reveals the sector he thinks is ripe to break out.

Transcript

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0:00.0

Thanks so much welcome to closing bell. I'm Scott Wobbler live at

0:02.9

Post 9 here at the New York Stock Exchange. This make-or-break hour

0:05.6

begins with target practice and whether the loftiest of S&P

0:09.2

predictions can actually be reached this year, we will ask our experts over this final stretch. In the

0:14.4

meantime, take a look at the scorecard with 60 minutes to go and regulation big

0:18.0

day for the Dow today, certainly relative to the other majors. It's up three quarters

0:22.2

of 1% energy and financial stocks are

0:24.4

leading the way today. Well Apple is contributing to even though it is a down day

0:29.4

for technology as a sector. There's Apple pushing higher by two-thirds of a percent.

0:33.8

Got a look at NVIDIA shares. They're sharply lower again following a volatile

0:37.6

week that included a nearly 15 percent correction. We're going to watch that

0:41.7

very closely over this last hour, see what

0:44.4

it means to the markets at large. It does take us to our talk of the tape. The second half

0:48.4

set up for stocks. Is it favorable for the rally to continue? Let's ask Dan Greenhouse. He's chief

0:53.6

strategist for solace alternative asset management with me here post nine.

0:57.1

Welcome back. Good to see you. Thank you sir. So we're about to make the turn

0:59.6

so to speak right on the second half of this year.

1:03.7

How things feel to you?

1:05.2

I think they feel pretty good.

1:07.3

You know, obviously there's not without concerns,

1:09.6

the parabolic move in NVIDIA, which we're going to talk about

1:11.8

it, a a minute notwithstanding.

...

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