Closing Bell: Stocks Sell Off on Hotter-Than-Expected Inflation Report 2/13/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 13 February 2024

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stock sunk in today’s session following some key inflation data. DoubleLine’s Jeffrey Gundlach reacts to that big move and breaks down what he’s forecasting for the months ahead. Plus, Sofi’s Liz Young and New York Life Investments’ Lauren Goodwin explain how they’re navigating the uncertainty. And, we dig into the big moves in financials, utilities and energy amid the broad sell off.

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to Closing Bell. I'm Scott Wopner live from
0:02.8	CNBC Global Headquarters today. This make-a-break hour begins with the
0:06.2	bull case for stocks. How big of a blow has it suffered today with that
0:10.2	hotter than expected inflation report.
0:12.6	We'll ask our experts over this final stretch,
0:14.6	including Double Lines Jeffrey Gunlock.
0:17.0	He joins us for a closing belt exclusive interview
0:20.1	in just a moment.
0:21.0	It's a big deal.
0:21.7	Can't wait to talk to him today.
0:23.3	We'll also get reaction from one of this country's top-ranked financial advisors,
0:27.3	High Towers, Rich Saperstein. In the meantime, your scorecard with 60 minutes to go and
0:32.0	regulation looks like that. It's been ugly and
0:34.8	it's been ugly all day long after the release of that CPR report. The Dow is down more than
0:39.6	700 points, 721. We'll see what it does over the final stretch. The Russell 2000
0:45.2	absolutely hammered today. Small caps are super sensitive to major moves
0:49.8	and interest rates. They are paying a price today because yields are jumping to the
0:54.0	highest levels since December. NASDAQ as you might imagine not much better.
0:59.1	Most mega cap stocks are lower today. I want you to take a look at an intraday chart of
1:03.0	invidia as well. Okay, it's red now. It doesn't tell the whole story because it was
1:07.8	red, then it was green, now it's turned negative by less than 1%.
1:12.7	Interesting day for the poster stock of this momentum market.
	...

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.