Closing Bell: Stocks sink, Sara Eisen speaks with Fed Chair Powell, Former Disney executive talks Netflix pain 4/21/22

Closing Bell

CNBC

Business, News

4.4 • 141 Ratings

🗓️ 21 April 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

In a special edition of Closing Bell from Washington, Sara Eisen speaks with Fed Chair Jerome Powell and other leaders at the IMF’s Debate on the Global Economy. Mohamed El-Erian from Allianz breaks down the latest policy signals from the central bank leader, and the potential impact on the market. Meantime, the Netflix nightmare continues, with shares taking another leg lower after hedge fund manager Bill Ackman sold off his stake. Former Disney executive and TikTok CEO Kevin Mayer – who correctly predicted that Netflix would explore advertisements – joins to discuss the future of the streaming giant. 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	Stocks losing early morning gains as Fed Chair Jay Powell says a 50 basis point hike could come next month.
0:05.8	The most important hour of trading starts now.
0:08.1	Welcome everyone to Closing Bell, I'm Sarah Eisen here in Washington, D.C.
0:11.8	More on my conversation with the Fed
0:13.7	share and others at the IMF debate and what it all means for the markets
0:17.4	coming up on the show here's where we stand right now in the markets near
0:20.4	session lows Dow failing to hold on to some early gains. We're down
0:24.8	more than 200 points right now. S&P 500 also losing steam down 1.3 percent.
0:29.4	Only one sector is positive and that would be consumer staples. Everybody else is in the red.
0:34.4	Technology is getting hurt today.
0:35.7	NASDAQ 100 down 1.
0:37.3	3 quarters percent.
0:38.4	The NASDAQ composite down nearly 2 percent and small caps down the most,
0:42.3	2.3 percent. check out the energy sector. It is the worst
0:45.4	performing sector right now in the market. Names like Baker Hughes, Devon Energy
0:49.6	are under pressure despite oil prices being higher.
0:53.0	Coming up, more black eyes for streaming today
0:55.5	with CNN Plus shutting down
0:57.5	and Netflix shares falling again after yesterday's stock meltdown.
1:01.0	Kevin Mayer, former head of direct-to-consumer at Disney, former
1:04.5	Tik-Toc CEO, will join us live. He predicted last month that Netflix would be
1:09.2	offering ads. It was a good call. We'll get his take on the streaming landscape from here.
	...

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