Closing Bell: Stocks rebound ahead of CPI, Fanatics CEO on sports merch, the “no landing” scenario 2/13/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 13 February 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks rose to start the week ahead of Tuesday’s key inflation report, which investors will focus on for clues about the Fed’s next move. Wall Street Journal reporter Nick Timiraos joins to discuss the increased rumblings on Wall Street of a “no landing” scenario. Wells Fargo’s Chris Harvey talks about his call that the bear market is over, but the bull market is stuck in traffic. The CEO of Fanatics breaks down the demand for sports merchandise following the Super Bowl, and talks about opportunities in livestreamed shopping and his prospects in the IPO market. Edgewell’s CEO gives his read on the consumer and talks about a warning from Walmart telling suppliers not to raise prices. Plus the latest on Microsoft’s continued strength, another pop for Meta, and Ford’s newest EV move.

Transcript

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0:00.0	Stocks are jumping to start the week as investors await tomorrow's key inflation report.
0:04.6	NASDAQ gaining back around half of last week's losses right now at 1.2 percent.
0:09.1	This is the make or break hour for your money.
0:11.3	Welcome everyone to Closing Bell, I Sarah Eisen. Take a
0:13.7	look at where we stand in the market overall. Dow's higher by almost a percent
0:18.0	about 290 high of the day was 350 points or so. The S&B 500 up almost a full percent. Technology's leading.
0:26.0	That's your best sector. Information technology along with consumer discretionary and
0:29.9	communication services. What's weaker today? Energy. That's the only sector that's
0:34.1	down. Utilities are underperforming as well. The NASDAQ is the center of the
0:37.2	action. Tech stocks rallying. Yields are a little bit lower at least on the
0:40.9	longer end of the curve. 3.7 on the 10 year.
0:43.6	Microsoft Apple, Invidia, and Meta lead the way.
0:46.1	Look at the Nasdaq 100 and you'll see the story here with the strength.
0:50.2	Coming off of a down week last week,
0:52.2	uh... alumna having an 8.3% surge
0:55.0	of earning some of the Chinese tech stocks like Pin duo duo
0:58.0	also rallying today and the media names continuing
1:01.0	what's been a strong showing so far this year.
1:03.0	Warner Brothers up another 5%.
1:05.0	Coming up on today's show,
1:06.0	we're going to get an early read on inflation
1:08.0	ahead of tomorrow's CPI report.
	...

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