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Closing Bell

Closing Bell: The Battle Between Rates & Tech 5/29/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 29 May 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Will rates or tech decide the fate of the rally? Lauren Goodwin from New York Life and Invesco’s Brian Levitt give their predictions. Plus, venture capitalist Rick Heitzmann gives his take on the rally in the tech sector and if it may be running out of steam. And, American Airlines’ stock had its worst day in 4 years. We explain why and how it’s impacting the rest of that space.

Transcript

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0:00.0

This make a break hour begins with rising rate fears and whether this record setting rally is about to be derailed again

0:06.0

We're gonna ask our experts over this final stretch that very question including super investor Josh Friedman he joins us in just a little bit. In the meantime your

0:14.4

scorecard with 60 minutes to go in regulation looks like this. Yields backing up that

0:19.1

continues to be the story today. The two-year we're going to show it to you there it is awfully close to 5%

0:24.8

the 10-year over 4.60. 462 as a matter of fact Jamie Diamond today saying 6% not so far-fetched.

0:34.2

We'll discuss.

0:35.2

If there's one bright spot, it continues to be mega-cap tech.

0:37.9

Invidious surge, unbelievable.

0:39.4

It continues today.

0:41.1

Almost $1,150 a share. Then there's Apple, higher again as well.

0:45.2

Amazon is too. That's a big part of this market story. It does take us to our talk to

0:50.4

the tape, the battle between rates and tech one keeping the

0:53.7

S&P on edge the other keeping investors buying in so which will decide the

0:58.7

fate of this rally let's ask New York Life Chief Market

1:02.0

strategist Lauren Goodwin and

1:03.2

Invest Goes Global Market Strategist Brian Leavitt both as you see

1:07.1

Are with me here post nights nice to see both of you

1:09.8

See you Lauren that's what this is about right rates backing up I said the two years

1:14.6

near 5% and the stock market doesn't like it because the Dow is down about 400.

1:19.0

Yeah we're seeing a little bit of movement this week with respect to rates but I think this is just

1:23.0

the calm before the storm we're about to set up for a lot of economic data that

1:27.3

will skew the investor perspective in one direction or the other we're getting

...

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