Closing Bell: Stocks surge into the close, Activist Investor Jeff Smith on where he sees value in the market, and Nikola keeps on truckin’ 3/29/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 29 March 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Dow & S&P 500 rallying for a third straight day. Truist Advisory Services Co-Chief Investment Officer Keither Lerner discusses whether stocks can keep rallying despite the bond market flashing a recession signal. Starboard Value CEO Jeff Smith explains where he sees value in this market and discusses the takeover bid for retailer Kohl’s that he is backing. Nikola CEO Mark Russell on how much demand he is seeing for the company’s electric truck and why the supply chain challenge is the biggest he’s ever seen. 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	Thank you, Tyler and Kelly.
0:02.9	Stocks are higher again, up 1% on the S&P,
0:05.4	and the two-year 10-year spread is about to invert.
0:08.2	The most important hour of trading starts now.
0:10.6	Welcome, everyone, to Closinging Bell, I'm Sarah E Eis and we've got a great show coming
0:13.9	your way including an exclusive interview with Star Board Value CEO Jeff Smith
0:18.2	in just a few moments. Plus we'll talk to the CEO of Nicola in his first
0:22.1	interview since announcing the start of
0:23.9	production for Nikola's electric trucks. That stock is up 40% in the past month.
0:29.2	But first here's a look at where things stand in the market, a 1% gain for the S&P 500.
0:34.8	We are going strong.
0:35.8	Nearing the end of March with a more than 5.5% gain for this market.
0:40.4	The NASDAQ is in the lead again.
0:41.8	1.7% higher, big cap tech leads the way.
0:45.1	And today we get confirmation from the small cap, something that we have not seen lately,
0:49.6	up 2.5% for the Russell 2000.
0:51.7	The Dow is lagging up three quarters of
0:54.0	one percent right now it's up about 254 points the high of the day was up more than
0:58.0	400. Here are my top takeaways on some big stories today. Robin Hood spiking after extending the hours that
1:04.6	will let users trade to between 7 a.m. and 8 p.m.
1:08.4	Mem trading is back too and that's great for Robin Hood. Just this week, AMC
1:11.9	is up almost 50%. Game Stop up 25%.
	...

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