Closing Bell: Stocks climb ahead of inflation data, FTX US President on Ethereum merge, Billionaire VC’s Best Ideas 9/12/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 12 September 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks rose ahead of Tuesday’s key inflation reading – with the major averages building on last week’s gains. Former Fed Vice Chair Roger Ferguson weighs in with his expectations for the CPI report and what it means for the Fed’s rate hike timeline. Meantime Bitcoin got another boost, adding to recent strength. The president of FTX US weighs in on that move, plus a report that Fidelity is considering Bitcoin trading on its platform, and the long awaited Ethereum network upgrade. And legendary venture capitalist Vinod Khosla discusses this year’s rough IPO market and where he’s looking for investing opportunities now. 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 are rising on Wall Street again, building on last week's rally as investors
0:03.7	await tomorrow's key inflation report.
0:06.4	The most important hour of trading starts now.
0:08.3	Welcome everyone to Closing Bell.
0:09.6	I'm Sarah Eisen.
0:10.7	Take a look at where we stand right now in the market up about 200 on the Dow.
0:13.7	It's another broad one as well.
0:15.2	The S&P 500 up a full percentage point.
0:18.0	Every sector is green.
0:20.0	Energy, technology, Consumer Discretionary,
0:23.4	leading the charge.
0:24.2	Apple's at the top of the list,
0:25.8	and we're going to talk much more about that move in a bit.
0:27.9	If you look at some of the Dow winners,
0:29.3	you can see Apple's really powering that index right now.
0:32.3	American Express, those, Chevron, United Health,
0:34.7	these are all some of the big winners today. Most Dow stocks are higher. Amgen Home Depot and Intel,
0:39.2	the only exceptions at the moment. Coming up on today's show we will talk to billionaire venture capitalists
0:44.0	binad Khosla about where he's looking for opportunities right now in tech and
0:48.2	beyond. Plus the president of FTX will join us to discuss Bitcoin's recent bounce back and the long-awaited
0:54.8	upgrade of Ethereum this week.
0:57.6	Let's get straight though to our market dashboard.
	...

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