Closing Bell: Stocks Slump, M&A Outlook and More Food Price Hikes Ahead 10/6/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 6 October 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

The major averages in the red as investors take some gains from this week's rally ahead of tomorrow's September jobs report. Carlyle Group Co-Founder David Rubenstein weighs in on rising recession risk fears and the outlook for dealmaking in this volatile environment. Mondelez CEO Dirk Van de Put warns food inflation is not slowing down and more price hikes are coming. And Eurasia Group President Ian Bremmer on how a potential deal to loosen oil sanctions against Venezuela could impact the global energy market. Plus he explains why Elon Musk should stop trying to do geopolitics. 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 pulling back. We're sitting near session lows right now, but still
0:04.8	tracking for big gains on the week. This is the make or break hour for your
0:09.0	money. Welcome everyone to Closing Bell. I'm Sarah Eisen coming to you live
0:12.2	from Washington today
0:13.2	take a look at where we stand right now in the market the low for the dow was down
0:16.5	about 400 points we're not too far away from that level below 30,000 there
0:21.0	S&P 500 down a full percent.
0:22.8	The only sector that's in positive territory right now
0:25.4	is energy, oil prices, holding their three week highs
0:28.7	after we got that decision from OPEC plus
0:31.0	to tighten crude supply, cut production, everybody else is weaker and
0:34.8	there's some sharp declines in the S&P sector.
0:37.1	Utilities for instance, down 3%, real estate, down 3%.
0:41.2	These were the more safe haven kind of places to hide, giving a lot back today.
0:45.4	Financials are also having a rough day, down 1.5%.
0:48.8	The NASDAQ is performing a little bit better than the overall S&P 500 down about six tenths.
0:55.0	Yields are higher and the dollar is stronger.
0:57.0	A bit of a reversal than what the easier financial conditions we've seen earlier this week.
1:02.0	Here's a live look right now at the biggest Dow,
1:04.4	under performers right now, there are plenty of them.
1:06.8	United Health Care is the biggest drag right now on the Dow.
1:10.1	You've also got names like 3M, IBM, Walgreens, Coca-Cola, and Verizon.
	...

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