Closing Bell: Stocks Sink Despite Nvidia’s Big Bounce 5/23/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 23 May 2024

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Given how far much of tech has rallied since the April bottom, should you take some profits or buy into the weakness? All-star panel featuring Trivariate’s Adam Parker, Citi’s Kristen Bitterly and Virtus’ Joe Terranova break down how they’re navigating the market right now. Plus, top tech analyst Mark Mahaney is shaking up his top picks list. He explains those moves. And, the DOJ is suing Live Nation – Ticketmaster’s parent company – over alleged antitrust violations. The company’s president and CFO Joe Berchtold gives his exclusive reaction to that.

Transcript

Click on a timestamp to play from that location

0:00.0	All right, Kel, thanks so much. Welcome to Closing Bell. I'm Scott Wobner live from Post 9 here at the New York Stock Exchange today.
0:05.0	This make a break hour begins with this accelerating sell-off and a question about tech.
0:09.0	Whether it is time to take some profits in that high-flying sector, especially after NVIDIA's latest launch, It's
0:14.0	latest launch higher.
0:15.0	Well, that stock is surging today.
0:17.0	The other big names in that space, though,
0:19.0	well, they are not, and they're falling pretty good today.
0:21.0	We're going to show you the mega caps as we start things off.
0:23.0	You'll see what I'm talking about. There's Apple at the top, back below 190, that's down
0:27.0	about 2%, Microsoft lower, Alphabet's lower as well. We're going to ask our
0:31.3	experts what to do given the selling we are seeing
0:33.4	in that space today.
0:34.6	Don mentioned move higher interest rates, Kelly did too.
0:38.0	Stronger than expected economic data is certainly part of the market story today.
0:41.9	As hotter news raises the fear of even higher rates.
0:44.1	And we're going to tell you what J.P. Morgan CEO Jamie Diamond said about all of
0:47.6	that in just a bit. Boeing, United Health, some of the banks, well they are the big
0:51.9	drags on the Dow today.
0:53.2	Take a look at that loss from Boeing.
0:55.2	The biggest drag and the biggest drag by far.
0:57.7	That stock alone is down some 7% today.
1:01.2	Elsewhere, we're watching the continued reversal in copper and a drop
	...

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.