Closing Bell: Sharp rally to start Q4, Box CEO on the record, Oil surges 10/3/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 3 October 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks started the fourth quarter with a bang, with the Dow climbing more than 700 points. David Zervos from Jefferies joins to discuss the rally, and what he makes of speculation over the weekend surrounding potential problems at Credit Suisse. Monica Erickson from DoubleLine talks about opportunities in the credit market. Box shares rallied after an upgrade from Morgan Stanley. CEO Aaron Levie joins to talk about the stock move and his outlook for the rest of the year. And John Kilduff from Again Capital breaks down the big pop in oil ahead of this week’s OPEC meeting. 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	Scott's having a strong start to the fourth quarter,
0:02.8	gains across the board, currently near session highs,
0:05.2	Dow is having its best day since 2020.
0:08.6	We're all about your money in this final hour of trading.
0:11.0	Welcome to Closing Bell.
0:12.3	I'm Carl Kington,tonia in for Sarah Eisen.
0:14.4	Let's check out where things stand this afternoon.
0:16.0	Dow, as we said, on pace for the best day since November 2020, 9-to-one update,
0:20.3	all sectors green.
0:21.6	Lower yields definitely helping today ten year below
0:24.0	365 and then check out energy today as oil rallies back to 83 and change ahead
0:29.5	of that OPEC plus meeting later in the week. Coming up on today's show, shares a boxer skyrocketing after Morgan Stanley ups the stock to overweight,
0:38.0	citing some bullishness around return to work.
0:40.0	We're going to talk to Box CEO Aaron Aaron Levy, get his read on enterprise tech spending.
0:45.6	But let's get straight to this market and this strong beginning to the fourth quarter.
0:49.1	Joining us today, Jeffries, Chief Market Strategist David Zervos with us.
0:52.4	David, David, great to see you.
0:53.8	We spoke last week.
0:55.2	It sounded like you would spend some time
0:57.0	talking some clients off the ledge.
0:59.3	Does that get any easier today?
1:02.2	Yeah, Carl, I guess it does.
	...

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