Closing Bell: Stocks rally into the close as tech takes off, NYSE Chair on market volatility, and a $200 oil price warning 3/24/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 24 March 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks rebounding on wall street as the major averages close near session highs. Tech the best performing sector led higher by a surge in semiconductor stocks. Cowen’s Matt Ramsay reveals his top chip picks. NYSE Chair Sharon Bowen discusses market volatility and her plans to bring more IPOs to the exchange. And Bank of America Head of Global Commodity Research Francisco Blanch warning oil could hit $200 if there is a major disruption to oil production. 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	Thoughts are near session highs with the NASDAQ leading the pack. The most important
0:05.1	hour of trading starts now.
0:07.0	Welcome to Closing Bell everyone. I'm Sarah Eisen. Here's where we stand in the market.
0:11.2	A 1% gain at least for the S&P for the NASDAQ which as I said
0:15.2	leading up 1.3% the dow's up a healthy 3 quarters of a percent
0:19.4	242 points and small caps also rebound The only sector lower right now in the
0:23.9	S&P is energy. Technology is the best performing sector, materials,
0:28.0	communication services, health care, oils, weaker, Bitcoin's out a three week
0:31.5	high and treasuries are slumping again sending
0:34.2	yields higher. Here are my top takeaways on today's biggest stories. Is the
0:38.2	economy really slowing down? It is the topic to sure on Wall Street. The widely
0:42.2	followed Atlanta GDP tracker out today
0:44.5	says expect only 0.9% growth in the first quarter and that is a mark down from a
0:50.0	week ago. We knew O' Macron hit us in Q, but it does make it harder to stage a full-fledged
0:55.1	rebound for the rest of the year, especially with Fed hikes and high food and gas prices. A soft landing
1:00.7	by the Fed is going to be tricky.
1:03.0	The dramatic up and down moves in the market continue for stocks.
1:05.6	So what comes next?
1:07.1	Jim Kramer, spotlighting some interesting technical analysis showing the
1:10.4	S&P has successfully retraced 50% of its big decline.
1:15.1	In the last 21 times that's happened since the Great Depression,
1:17.8	it's meant the decline is over every single time.
	...

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