Closing Bell: Strong ending to a strong month, FCC Commissioner on potential TikTok ban, Visa CEO on consumer spending 1/31/2023
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 31 January 2023
⏱️ 43 minutes
🧾️ Download transcript
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| 0:00.0 | It is the last day of January and stocks are looking to end a strong month on a high node as we await some major catalysts later this week. |
| 0:07.5 | The NASDAQ leading again today is now up around 10% since the start of the year. |
| 0:12.2 | This is the make or break hour for your money. |
| 0:14.4 | Welcome to Closing Bell. I'm Mike Santoli in for Sarah Eisen. |
| 0:17.6 | Here's where we stand in the market. The S&P 500 gaining back most, although not all of what was given up yesterday we were up |
| 0:25.5 | two and a half percent last week down a bit more than 1 percent yesterday and now up |
| 0:30.4 | about 1 percent here you see the 10- year yield coming in a little bit and the Russell |
| 0:34.9 | 2,000 small caps outperforming the January effect also often involve small |
| 0:39.8 | cap outperformance. Check out some of today's key earnings movers as well. GM is |
| 0:44.5 | jumping on strong earnings as well as solid guidance. UPS getting a boost on a |
| 0:49.7 | bottom line beat ExxonMobil also higher after that company beat earnings McDonald's, |
| 0:54.6 | lowered despite topping estimates and Caterpillar is at the bottom of the Dow today |
| 0:59.6 | after a profit miss. |
| 1:01.4 | Now we have a big show coming your way. We'll talk to FCC |
| 1:04.0 | Commissioner Brendan Carr for the latest on calls in Washington to ban Tik-Toc, |
| 1:09.1 | plus his thoughts on reports of a tighter crackdown on Huawei. And later Visa CEO Al-Kelli on consumer, the future of the payments industry, and much more. |
| 1:24.0 | Let's take a look here at a snapshot of the S&P 500 encompassing the entire nearly 13 months |
| 1:30.9 | since the S&P did peak for all time back last January. |
| 1:34.8 | And again, we've regained most of what was lost yesterday, |
| 1:38.0 | up close to 6% for the month. |
| 1:40.0 | One thing maybe you want to take note of |
| 1:41.6 | is we're still slightly below the early December high. |
... |
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