Closing Bell: Stocks Surge, Let's Make A Deal & Trust The Rally? 10/18/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 18 October 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks rallying for a second straight day amid another strong batch of earnings and activist investors taking stakes in Salesforce and Colgate-Palmolive. UBS Private Wealth Management's Alli McCartney and Clocktower Group's Marko Papic debate whether investors can trust this week's rally. Moelis & Company CEO Ken Moelis on whether this year's big decline in stocks will fuel a new wave of dealmaking. Plus, why he thinks the midterm elections could be the next catalyst for this market. Evercore ISI's Mark Mahaney discusses whether investors should buy Netflix shares ahead of the streaming giant's earnings. And Deputy Attorney General Lisa Monaco on the French cement company pleading guilty to making millions of dollars in payments to ISIS. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

Click on a timestamp to play from that location

0:00.0	Stocks are building on this week's strong rally, but we are off the best levels of the day.
0:06.1	Some headlines just hitting the tape moments ago from the information that Apple is cutting
0:10.3	iPhone 14 plus production.
0:12.1	That's taking some steam out of the rally.
0:14.0	Welcome everyone this is the make or break hour for your money.
0:18.0	Welcome to closing bell I'm Sarah Eisen here's where we stand right now in the markets
0:22.0	Apple just turning negative.
0:23.6	The Dow overall is still up more than 200 points, about 3 quarters of 1%.
0:27.1	S&P's up also almost 3 quarters of a percent.
0:30.3	The Nasdek is lagging today.
0:32.3	It's a super-sized rally yesterday,
0:34.0	but we are putting together here back-to-back
0:37.0	games if we continue to trade higher and close positive in the next hour.
0:41.0	Nasdaq up 4 tenth.
0:42.0	There's a ten-year Treasury note yield.
0:44.4	It's about 4% or so right now.
0:47.5	I mention it because that is obviously one of the biggest drivers of stocks right now,
0:51.9	those higher yields standing in the way of an equity rally
0:56.8	and certainly stamping some enthusiasm right now just looking at the tenure a little
1:00.6	bit weaker but really not moving a whole lot.
1:02.8	Check out some of today's earnings movers,
1:04.6	because we're starting to get into it.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.