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Closing Bell

Closing Bell: The March Towards New Highs 7/27/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 27 July 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

Dan Greenhaus from Solus Alternative Asset Management gives his forecast for stocks after yesterday’s fed decision. Plus, Big Technology’s Alex Kantrowitz weighs in on Meta’s quarter and what to watch when Apple reports next week. And, market expert Bob Pisani breaks down the crucial final moments of trade – amid the Dow’s intra-day slide.

Transcript

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0:00.0

Guys, thanks so much welcome to Closing Bell. I'm Scott Wopner live from

0:03.8

Post 9 right here at the New York Stock Exchange. Big interview ahead this hour.

0:07.5

Goldens Jan Hatzius will join us. That firm now says the Fed's done. We'll talk to him in just a few about that call.

0:14.6

In the meantime, this make-a-break hour begins with the Dow's historic run.

0:18.3

The index, as you know by now, trying for its 14th straight day of gain something it hasn't done in more than

0:23.5

120 years underscoring just how this rally has broadened out you can see

0:29.1

though this late-day fade is putting all of that in jeopardy.

0:33.6

Here's your scorecard with 60 minutes to go in regulation.

0:36.4

Amgen, Boeing, Salesforce Caterpillar had been leading the Dow higher and towards that milestone

0:41.2

for much of the day.

0:42.1

They're still in the green

0:43.0

the index itself though rolling over a bit technology getting a big lift today from

0:47.6

Meta on the back of its blowout earnings interest rates well they're moving

0:51.3

modestly higher and maybe that's part of the reason why you've

0:54.2

had this late day fade, the 10 year moving above 4%, you see it right there.

0:58.5

GDP, a surprise this morning.

1:00.5

And also a day after, of course, the Fed share left the door open for another

1:03.8

rate hike at some point in the cycle takes us to our talk of the tape this

1:08.2

march towards new highs whether we're likely to get there in the months ahead

1:11.8

let's ask Dan Greenhouse Solis

1:13.6

Alternative Asset Management's Chief Strategist. He's here with me at

1:16.4

post nine. Welcome back. Good to see you. Thank you sir. What about that?

...

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