Closing Bell: Tech’s Moment of Truth 4/25/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 25 April 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Will the impending reports from the giants of the Nasdaq ease or exacerbate investor worries? Lo Toney of Plexo Capital, Malcolm Ethridge of CIC Wealth and Nicole Webb of Wealth Enhancement Group give their expert takes. Plus, Ana Arsov – Co-head of Global Banks at Moody’s – weighs in on First Republic’s huge drop. She tells us what this might mean for the broader banking sector. And, PIMCO’s Erin Browne breaks down one key part of the market that she thinks could hold up during a downturn.

Transcript

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0:00.0	All right, welcome to closing bell up.
0:01.7	Mike Santoli in for Scott Woffner.
0:03.4	We are live from Post-9 at the New York Stock Exchange.
0:06.2	This make or break hour begins with an end to the calm.
0:09.7	The first 1% daily drop in the S&P 500 in more than a month appears underway on a fresh round of economic
0:16.4	slowdown concerns and mixed earnings results.
0:18.8	You see the S&P 500 down almost a percent and a half at the daily lows right now.
0:23.4	That leads us to our talk of the tape and text moment of truth.
0:27.8	Will impending reports from the giants of the Nasdaq ease or exacerbate investor worries.
0:33.2	Here to help us answer this question and more is Malcolm Etheridge of CIC Wealth.
0:37.6	He is also a C. M.C. contributor and Nicole Webb of Wealth Enhancement Group here at PostNet.
0:43.0	Welcome to you both.
0:44.4	Malcolm, I'd love to hear you read quickly on today's action.
0:47.7	We've been almost complaining, at least some of us have
0:50.6	about the lack of movement in the indexes.
0:53.4	We have had this low volatility period today,
0:56.7	familiar but I guess reminders of a slowdown fear
1:00.4	out in the economy, consumer confidence taking a hit, and then a mixed bag of earnings seems
1:04.6	to have jolted the markets along with those bank concerns with First Republic.
1:08.9	So is it just a blip or is it the sort of something worse?
1:11.7	Yeah, Mike, I don't think the calm will continue throughout the rest of this week.
1:16.6	I think we're probably going to get whipsawed around over the next three days throughout each trading day
	...

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