Closing Bell: Stocks Stage Late Rally, Cliff Asness on Private Equity, Chip Funding in Focus 6/23/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 23 June 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks popped in the final hour of trading, adding to solid gains on the week. Bespoke’s Paul Hickey and DoubleLine’s Jeff Sherman discuss the moves in equities and bonds. Meantime Intel warned it’s big Ohio chip factory could be delayed as Congress drags its feet on funding. PIMCO’s Libby Cantrill weighs in on the holdup. And AQR’s Cliff Asness shares his choice words for the Private Equity business in a rare interview. 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 off the best levels of the day still pacing for some solid gains on the week
0:04.2	the Nasdaq's up a percent the most important hour of trading starts now.
0:08.0	Welcome everyone to Closing Bell I'm Sarah Eisen. Take a look at where we stand in the market right now, about 4 tenths of a percent on the
0:14.2	S&P 500. It's a defensive lead rally. You've got the leaders, utilities, health care,
0:19.8	consumer staples, right on top of the market.
0:21.9	Worst performing sectors, energy again, crude oil,
0:25.1	taking another big fall, as you can see
0:26.5	at the bottom of your screen, down 2%, materials,
0:28.6	financials, and industrial.
0:29.7	So the cyclical groups are leading us lower.
0:32.4	The NASDAQ, though, technology hanging in up 1%.
0:35.1	Check out some of the most actively traded names.
0:37.3	Right here, right now at the New York Stock Exchange.
0:39.9	You've got Neo at the top of the list.
0:41.6	It continues to be among the most active.
0:43.2	So is Ford.
0:44.3	Lately, there's Revlon, the bankrupt company
0:46.4	that has soared a few hundred percent this week.
0:49.0	Even since announcing bankruptcy, giving a little bit back today.
0:52.6	Palantier and AT&T coming up on today's show,
0:55.7	we will talk to double lines, Jeff Sherman,
0:57.7	about the latest signals today from Fetcher Powell,
	...

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