Closing Bell: Stocks close well off highs, Apple WWDC highlights, Marriott CEO on travel demand 6/6/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 6 June 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks failed to hold an early rally in an up-and-down session, with the Dow giving up most of its earlier 335 point gain. Julian Emanuel from Evercore ISI and Nancy Tengler from Laffer Tengler break down how they are approaching this uncertain trading environment. Meantime Apple kicked off its Worldwide Developers Conference at its California headquarters. Wedbush’s Dan Ives and Colin Gillis from Chatham Road discuss the biggest announcements, including new software and hardware products. And the CEO of Marriott weighs in on travel demand and what he’s seeing right now from his customers. 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 retreating from a sizable early rally with the Dow giving up a 330-point game.
0:05.2	The most important hour of trading starts now.
0:07.4	Welcome everyone to Closing Bell.
0:09.0	I'm Sarah Eason.
0:09.9	Take a look at where we are right now.
0:11.6	Dow was in negative territory just a moment ago.
0:14.4	It's pretty much unchanged.
0:16.2	S&B 500 doing better up a third of 1%.
0:18.5	You've got consumer discretionary at the top of the market.
0:20.8	That's what happens when Tesla and Amazon are both higher as they
0:23.2	are right now. But Communication Services is also leading the way. Some of the
0:26.2	mega cap tech names like Alphabet Meta. All doing well today, AT&T, T-Mobile
0:31.2	also joining the party. The NASDAQ's up a third of 1%, and the Russell 2000
0:36.2	and 6 small caps of 2 tenths of 1%. What's not working today, Energy? Crude Doyle, giving back a little,
0:40.8	still holding near $119 per barrel staples technology and
0:44.4	health care all weaker check out some of the most actively traded names right
0:47.4	now right here at the New York Stock Exchange
0:49.6	DD Global the Chinese internet stocks are soaring today on some news about
0:53.9	DD's share structure, but also fewer lockdowns in the major city that's been helping
0:58.7	the China trade and overall sentiment earlier this morning.
1:01.3	Neo continues to be among the most actively traded, higher again up 6%.
1:05.6	Snap with a little bit of a comeback from an, its earnings warning, big slide that we saw
	...

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