Closing Bell: The Catalyst for Stocks? 5/10/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 10 May 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

What is the catalyst for stocks to move higher? Is it rate cuts? Tom Lee of Fundstrat gives his forecast. Plus, Disney is set to report after hours. Victoria Fernandez of Crossmark Global Investments owns the stock and gives her take on what she’s watching from those numbers. And, Former Fed Governor Frederic Mishkin weighs in on the inflation situation and what the Fed might do next.

Transcript

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0:00.0	Welcome to Closing Bell. I'm Scott Wobner live from Post 9 here at the New York Stock Exchange.
0:04.4	This make a break hour begins with today sell-off despite that pretty good read on inflation and what all of that says
0:10.7	about where your money is heading from here.
0:12.8	It's not the market reaction.
0:14.2	Obviously many we're looking for today.
0:16.5	There it is.
0:17.0	Here's your scorecard.
0:18.0	60 minutes to go in regulation.
0:19.7	Sickleical stocks, they're selling off underperforming today that's a drag on the
0:23.8	Dow it's been down for most of the afternoon though it's recovering a bit
0:26.8	S&P Nasdaq Russell 2000 are in the green a gross stocks are catching a bit of a bit.
0:33.5	Interest rates are dropping on more recession fears.
0:35.8	It brings us to our talk of the tape.
0:37.2	What is the catalyst for stocks to move higher?
0:39.8	Is it rate cuts?
0:41.4	Some say be careful what you wish for. All this is Fed member
0:44.8	after Fed member says it's not going to happen. So where does this leave us?
0:49.0	Let's ask Tom Lee, he is Funstrats co-founder and head of research.
0:53.0	He is also a CNBC contributor.
0:55.0	It is good to see you as always.
0:57.0	What do you make of this market reaction today, Tom, to that
1:00.0	CPR print?
	...

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