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Closing Bell

Closing Bell: The New Rate Reality 10/23/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 23 October 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

How could the new rate reality impact the road ahead for stocks? Wells Fargo’s Chris Harvey, Requisite Capital Management’s Bryn Talkington and HSBC’s Max Kettner break down where they stand. Plus, Ashley MacNeill from Vista tells us where she is seeing opportunity in the software and tech space. And, we tell you what to watch from IBM and Tesla when they report after the bell.

Transcript

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0:00.0

All right, guys, welcome to closing bell.

0:02.0

I'm Scott Wabder live from Post-9 here at the New York Stock Exchange.

0:04.5

This make a break out begins with the sell-off and the sell-off in the NASDAQ today

0:08.2

as this final stretch begins.

0:10.0

I mean, the major averages across the board are lower but the NASDAQ is our

0:14.1

standout it's down near 2% very weak today Apple a big culprit as an

0:19.6

influential analyst in Asia slashes his iPhone production numbers by some 10 million units.

0:25.4

NVIDIA Amazon Meta also lower on the session.

0:28.0

They are dragging.

0:29.0

Tesla is too.

0:30.4

Ahead of its own earnings report, that's coming in overtime tonight.

0:33.4

We'll have more on that coming up.

0:35.0

We're watching shares of McDonald's today following that E. coli outbreak.

0:38.6

The stock hit with at least a couple of downgrades today.

0:41.4

Off by near 5%. It's been a week throughout the session

0:44.0

3M has also been weighing on the doubt today and we'll track that too over these

0:48.9

last 60 it does take us to our talk of the tape the new rate reality and how that could impact the road

0:54.1

ahead for stocks let's welcome in Chris Harvey he's head of equity strategy

0:58.0

at Wells Fargo securities with us here at post-Stines good to see you. Welcome back. That's the story right

1:04.1

now right? I mean the move back up in yields and the toll it's taking on stocks.

1:08.7

It's the Trump trade, it's back up in rates, and it's earning season so it's all about who just reported last what

1:14.8

that means and and what narrative we're gonna go with but you're right and the

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