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Closing Bell

Closing Bell: The Great Giveback of 2024? 01/04/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 4 January 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Has the enormous end of year rally become the great giveback of 2024? Trivariate’s Adam Parker and Virtus’ Joe Terranova map out their theories. Plus, Corient’s Amy Kong explains what she’s forecasting for the magnificent 7 this year. And, top technician Jeff DeGraaf is mapping out the market… and reveals the two sectors he is betting on right now.

Transcript

Click on a timestamp to play from that location

0:00.0

Kelly, welcome to closing bell. I'm Scott Wopner live from Post 9 here at the New York Stock Exchange

0:05.2

and this make-or-break hour begins with this still unsettled market and new questions about where stocks are going from here.

0:11.9

We'll ask our experts over this final stretch.

0:14.0

In the meantime, your scorecard with 60 minutes to go

0:17.0

and regulation looks like that.

0:18.0

It's really been tough to get much going for the major averages today.

0:21.0

Seen a bit of buying and financials and

0:23.0

industrial and health care, but not much elsewhere.

0:25.0

There's the majors right now, one in the green, two in the red, another downgrade

0:28.5

for Apple today.

0:29.9

It's weighing on those shares and thus it's weighing on the sector at large.

0:34.0

There's been a modest bounce in NVIDIA and Tesla today, so we're watching that, just a little

0:38.4

bit of buying in some of the stocks that have gotten pushed down in this early part of the year.

0:42.8

As for interest rates, probably not helping equities that the 10-year no yield is moved back to 4%.

0:48.8

There it is right about at that level now.

0:51.3

And that's ahead of tomorrow's critical employment report.

0:54.0

We're going to be watching that closely tomorrow too.

0:55.7

It takes us to our talk of the tape.

0:57.4

Whether the enormous end of year rally has become the great give back of

1:01.1

2024 and how much longer it might last. Let's ask

1:04.6

Adam Parker he's the founder and CEO of Trivariate Research and a CBC

1:08.5

contributor back here post-9. Happy New Year's good to have you back.

...

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