Closing Bell: Stocks keep sinking 5/9/22

Closing Bell

CNBC

News, Business

4.4 • 140 Ratings

🗓️ 9 May 2022

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

The sell-off on Wall Street intensifying with the S&P 500 hitting a 1-year low. Neuberger Berman's Holly Newman Kroft, one of the top wealth advisors on Wall Street, explains how investors can diversify from stocks and bonds in this volatile environment. Jefferies' Brent Thill says tech investors should be sitting out the storm right now. Strategas Research Partners’ Jason Trennert on why today's energy sell off may be creating a buying opportunity. Trivariate Research’s Adam Parker explains why he's turning bearish on Utilities, which have been a relative safe haven this year. Plus, why he thinks semiconductor stocks are looking oversold. And Rockefeller International Chairman Ruchir Sharma explains why the era of investing in acronyms like FAANG may be over. 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	More pain for the major averages to kick off this new trading week. The most important hour of trading starts now.
0:05.4	Welcome everyone to Closing Bell, I'm Sarah Eisen.
0:08.1	Take a look at where we stand in the market in this final hour of trade. The NASDAQ down 3.5% more selling to start the week after five straight down weeks for the S&P 500.
0:17.6	Look at the S&P, it's down about 2.5% right now.
0:20.4	The only sector that is positive, consumer staples, also utilities are
0:24.6	failing a little bit better. You've got heavy pressure today on energy, giving
0:28.9	back a lot of recent gains down 7.6% as a sector, real estate and technology.
0:34.0	That's at the bottom of the pack.
0:35.4	Small caps down 3.7%.
0:37.8	Watching some round numbers, Bitcoin falling below 32,000.
0:41.6	There's the Nasdaq below 12,000. And the Dow,000. There's the NASDAQ below 12,000 and the Dow down 1.3% it's
0:45.8	faring a little bit better. Here's a look at some of the most actively
0:48.0	traded names here at the NYC at this moment. Neo and Ford continued to be on the list of it most actively
0:54.2	traded for the past few sessions. E. E. E. E. E. E. E. E. E. E. E. E. E.
0:56.2	He's getting hit especially hard today. We'll talk about Rivian later in the
0:59.3	show. There's Neo down 7.5% and Palantir off earnings down 21.7%. We are all over this market
1:06.4	turbulence for you throughout the show. We've got a great lineup including
1:10.3	Adam Parker from Trivariate Research, Jason Trenner from Strategis, Rockefeller's
1:14.4	Rousher Sharma, Holly Newman Proth
1:16.5	from Newberger, Berman, and Tech analyst Brentville
1:18.8	from Jeffries, to help make sense of all of this
1:21.1	and figure out what you should be doing next with
	...

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