Closing Bell: Stocks soar into the close, billionaire venture capitalist Jim Breyer on which tech stocks look cheap, and Former Ford CEO Mark Fields on which automakers will be the big winners in the EV wars 3/17/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 17 March 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks staging another big rally into the close. Billionaire venture capitalist Jim Breyer reveals which beaten-up big tech stocks he has been buying amid recent weakness. Plus, he explains why the metaverse is overhyped. Former Ford CEO Mark Fields on how rising commodity prices are impacting the auto industry and which companies are winning the EV wars. 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 are near session highs.
0:03.0	Oil spiking 9%.
0:05.0	The most important hour of trading starts now.
0:07.7	Welcome to Closing Bell, I'm Sarah Eisen.
0:10.2	Here are my top takeaways on today's big stories.
0:13.2	Dividends are going up.
0:14.9	Dollar General and Northstrom both resuming or upping their payouts today.
0:18.7	Global dividends set to rise to $1.9 trillion for 2022 back to pre-COVID levels.
0:24.4	According to a Jeffries note, the firm likes buying these income-paying stocks because
0:28.6	a lot of what we're dealing with right now.
0:30.0	Inflation, rising rates, volatility, yield curve flattening are all supportive of dividend stocks.
0:36.5	Mortgage rates passing 4%. First time we've seen that in years, housing has been a healthy part of the
0:40.8	economy and it is showing signs of cracks.
0:43.5	Home Builder's sentiment this week falling to a six month low.
0:46.3	Prices have skyrocketed and now mortgage rates are rising as the Fed raises rates,
0:50.7	making it more unaffordable.
0:52.2	Watch for a slowdown in housing sales.
0:54.0	And Cignette is soaring.
0:56.0	Talk about stocks getting crushed, but fundamentals turning out to be solid.
1:00.0	The stock was down more than 30% this year
1:02.0	with all the hand wringing over stimulus wearing off and pent up demand cooling down.
1:06.5	Well today, Signet gave upbeat guidance for the quarter in the fiscal year 2023 CEO Ginnodroses's turnaround is working, and weddings are also coming back.
	...

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