Closing Bell: Stocks mixed after wild session, AMC CEO talks retail traders 5/10/22

Closing Bell

CNBC

News, Business

4.4 • 140 Ratings

🗓️ 10 May 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

The major averages finished mixed after another wild session on Wall Street, which saw the Dow swing by more than 800 points. Tony Dwyer from Canaccord explains why it may be safe to start dipping your toe back into the market. Joshua Friedman from Canyon Partners breaks down the trade in the credit markets. And AMC CEO Adam Aron talks about retail traders, and if they’re still enthusiastic about the stock following last year’s meme mania. 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	It is another roller coaster session on Wall Street.
0:02.2	The Dow had been up more than 500 points
0:04.8	before turning sharply lower than recovering.
0:07.2	Now struggling for direction as we head toward the close.
0:09.4	The most important hour of trading starts now.
0:11.9	Welcome everyone to Closinging Bell. I'm Sarah Eisen. Here's
0:14.6	where we stand in the markets as you can see the Dow is higher by 29 points.
0:18.5	Again, high of the session was up 500. Low of the session was down 357.
0:23.0	S&B 500, up a nice 3 quarters of 1%.
0:27.0	The strength today is actually in the hardest hit part on the market lately.
0:30.0	Technology, Communication Services,
0:32.0	some of those battered names like Netflix and
0:34.4	alphabet working today. Nasdaq composite up 1.85 percent. It is leading for a
0:39.6	change. Small caps up for about 4 tenths of 1 1%. What's not working? The more defensive
0:44.4	plays that have fared better in the sell-off, real estate, utilities, and
0:48.0	consumer staples. Check out some of the most actively traded names right now, right
0:51.9	here at the New York Stock Exchange
0:53.4	Palantir giving more back after 20% decline off earnings yesterday. Neo and
0:57.8	Ford continue to be among the most active. AMC down about 4%. It's reversed its gains off of earnings.
1:04.7	Coming up on today's show, we will talk to Canyon Partners co-founder Josh Friedman
1:09.4	about his outlook for the market after this brutal bout of volatility, huge credit fund.
1:14.0	Plus, ANC CEO Adam Arran will join us for an exclusive interview after last night's earnings.
	...

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