Closing Bell: Stocks Rally, Semis Surge & Recession Fears Fading? 1/23/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 23 January 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Tech stocks leading the market higher as Wall Street gears up for another big week of corporate earnings. Semiconductor stocks among the big winners after a bullish call by Barclays. Wedbush’s Matt Bryson tells us whether he thinks the chips look cheap. Salesforce shares surging after two big investors took stakes in the software giant. Cowen’s Derrick Wood downgraded the stock on Friday and discusses whether he is reconsidering that bearish call. Former Council of Economic Advisers Chair Jason Furman reacts to a new survey showing recession fears are fading, but cautions strong consumer spending trends look unsustainable. And Compass CEO Robert Reffkin explains why he thinks the housing market may have hit a bottom at the end of 2022 despite the Federal Reserve’s plan to keep raising interest rates. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

Click on a timestamp to play from that location

0:00.0	There's green on the screen to start the week following Friday's strong rally.
0:04.0	Look at the NASDAQ leading the charge that we're off the best levels of the day.
0:07.6	This is the make or break hour for your money.
0:10.0	Welcome everyone to Closing Bell, I'm Sarah Eisen.
0:12.7	Nasdaq up 1.6 percent.
0:14.4	Take a look at how things stand for the rest of the market.
0:16.8	There's the Dow up half a percent.
0:18.4	The S&P 500 up 8-10s.
0:20.6	What's leading the market?
0:21.9	It's information technology, the chip stocks really on fire
0:25.2	today we'll talk about that communication services and consumer discretionary with
0:29.3	names like Tesla higher but also a lot of green in terms of the retailers both the
0:33.8	e-commerce retailers and some of the traditional dollar stores as well small
0:37.9	cats zooming up three quarters of 1% the NASDAQ 100 trying to string together
0:42.4	its best back-to-back day since November.
0:45.4	Take a look at Salesforce boosting the Dow on news of new activist positions from
0:50.4	Elliot Management and Inclusive Capital.
0:53.0	We'll talk about the changes that could come at the company a little bit later on in the show.
0:57.0	Also ahead this hour, the CEO of Compass will join us here at Post 9 to talk about the state of housing and rentals as high
1:04.1	rates keep real estate in check.
1:06.6	Plus former council of economic advisors chair Jason Furman on the changing odds of
1:11.4	a recession here in America.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.