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Closing Bell

Closing Bell: The Broadening Bounce 12/18/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 18 December 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Many lagging sectors have ripped over the past six weeks – including banks, materials and industrials. Is the better breadth just beginning? Trivariate’s Adam Parker and NB Private Wealth’s Shannon Saccocia break down what they’re expecting. Plus, Tony Pasquariello from Goldman Sachs says now is not the time to give up on mega cap tech. And, we break down the move in Adobe as it calls off its plan to buy software company Figma.

Transcript

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0:00.0

All right, guys, thanks so much. Welcome to Closing Bell. I'm Scott Wautner, live from Post 9 here at the New York Stock Exchange.

0:06.0

This make or break hour begins with how to play the rally in stocks. A question no longer about whether stocks can continue to rise but how to maximize this

0:14.3

incredible move in your favor especially if a sizable rotation is just

0:18.9

getting started. We will ask our experts that question over this final stretch in the meantime.

0:24.3

Take a look at the scorecard with 60 minutes to go in regulation. Stocks having a pretty good day

0:28.5

trying to build on that seven straight weeks of gains. Alphabet, Amazon Meta, they're leading tech hire today.

0:35.0

That's why the S&P is doing quite well.

0:36.7

Interest rates, they're holding steady, the 10 years still under 4%.

0:40.6

It does take us to our talk of the tape, the broadening bounce, and how so many lagging sectors

0:45.1

have ripped over the past six weeks, from banks to materials to industrial and so much more.

0:51.0

Is the better breath just beginning? That's the key question.

0:53.5

Let's ask Adam Parker, founder and CEO of Trivariate research, a C and B.

0:57.5

Contributor. He's here at Post 9. Welcome back.

1:00.0

Thanks. Good to see you. Let's take stock of where we're at because we come a long way over the last

1:04.4

visits that we've had, you know, over the last six weeks or so. What's the message of all this do you think to you now?

1:11.1

To get that broadening rail you're teed up, I think you need to believe profit margins can expand for the average company.

1:17.0

That's what you need to believe.

1:19.0

Most of our work has been focused on gross margins, you know, the costs around materials,

1:24.1

depreciation, labor, pricing, mix, all those things.

1:27.0

Can companies profit margins can expand?

1:28.6

Can they?

1:29.5

I think they've troft here at the, you know know in the last after being recently

...

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