Closing Bell: Stocks surge on tech’s turnaround, Spirit Airlines’ CEO on rising fuel costs, Palo Alto Networks’ CEO on cyber attack threats, and why the Fed is no longer your friend.

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 15 March 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks staging a big rally as tech stocks rebound from their recent sell off. Jefferies Tech Analyst Brent Thill lays out his top tech picks. Spirit Airlines’ CEO on why higher oil prices actually increase the carrier’s competitive advantage. The CEO of cybersecurity firm Palo Alto Networks explains why he has never been as worried about cyber attacks as he is right now. And Jefferies Chief Market Strategist David Zervos on why the Fed is not your friend this year. 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 at the highs of the day and technology is in the lead. The most important hour of trading starts now.
0:08.0	Welcome to Closing Bell, I'm Sarah Eisen. Here are my top takeaways on today's big stories.
0:12.0	Markets on COVID watch again.
0:14.0	Stocks like Zoom, Peloton, Docya Sign,
0:16.0	classic stay-at-home poster children,
0:18.0	getting some love.
0:19.0	Yes, they've been beaten up.
0:20.0	But Europe is dealing with a new wave of infection.
0:22.0	China's locking down cities, and in the US... But Europe is dealing with a new wave of infection,
0:22.7	China's locking down cities, and in the US,
0:25.1	the CDC is tracking an uptick in COVID in our sewage.
0:28.8	Where investors too quick to dismiss the COVID story.
0:31.6	China slow down, helping curb inflation.
0:34.4	Oil is falling hard again today.
0:35.9	Wheat is well off its highs.
0:37.3	Why?
0:38.2	China is the world's top energy consumer.
0:40.4	Chinese COVID lockdowns are hurting growth. If those restrictions persist and even
0:44.3	expand, commodities could continue to see more pain, good news at least, on the inflation front.
0:49.8	And pre-Gaming the Fed decision tomorrow.
0:51.9	Perhaps the biggest question for investors, the balance sheet.
0:55.4	The Fed has built up more than $9 trillion in holdings buying bonds to stimulate the economy.
	...

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