Closing Bell: Stocks higher for a second straight week, Tilray’s CEO on pot stocks popping, and Frontier Airlines’ CEO on record travel demand. 3/25/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 25 March 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

The S&P 500 closing higher for a second straight week even as treasury yields continue to climb. RBC Capital Markets Head of Global Commodity Strategy Helima Croft on how the attack on a Saudi Aramco facility is impacting oil prices. Tilray Brands CEO Irwin Simon on whether pot stocks will continue to rally as Congress considers a new bill to legalize marijuana. And Frontier Airlines CEO Barry Biffle explains why he’s never seen domestic demand this strong and whether he is considering fare hikes because of higher jet fuel prices. 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	The Dow is higher, Nasdaq Down and the S&P 500 pacing for its second winning week in a row.
0:07.0	The most important hour of trading starts now.
0:09.5	Happy Friday and welcome to Closing Bell, I'm Sarah Eisen.
0:12.0	Here's where we stand right now in the market.
0:14.5	The Dow, higher by about 100 points.
0:16.0	High of the day was about 234.
0:18.0	Lost a little momentum as we continue to see Treasury yield spike
0:21.0	the tenure going past 250.
0:23.6	It's come off of those highs right now.
0:25.2	S&P, up a third of 1%.
0:26.8	The underperforming sectors right now, information technology and consumer
0:30.1	discretionary, though those are big wins on the week. Energy is at the top of the
0:33.7	market today. The NASDAQ underperforms still a big winner up almost 2% for the
0:38.0	week. It's down about a quarter of a percent now and Russell also up at 10th. It's
0:41.9	the only one of the big four that's actually lower on the week.
0:45.0	Here are my top takeaways on some big stories today.
0:48.0	Another setback for the frozen IPO market, a big drop for another recent IPO.
0:52.0	Shares of the honest company, plunging. market, a big drop for another recent IPO.
0:52.6	Shares of the honest company, plunging on a week quarter and bigger loss,
0:56.8	and it's not just honest, a basket of newly public companies down more than 25%.
1:02.1	So far this year doesn't inspire confidence for other private
1:04.6	companies waiting in the wings to go public and it's happening in the private
	...

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