Closing Bell: The Rebound Gains Steam 8/15/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 15 August 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

The stock market’s remarkable run extends with retail sales data fueling hopes around a healthy consumer. Trivariate’s Adam Parker, Virtus’ Joe Terranova, and BNY Wealth’s Alicia Levine navigate what lies ahead for the Fed and investors. And, Bernstein Research’s Stacy Rasgon breaks down what’s fueling the move in chip stocks including market darling Nvidia. Plus, activist investors setting their sights on Apple and Nike among other widely held names. 13D Monitor’s Ken Squire brings us highlights from this week’s filings.

Transcript

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0:00.0	All right, thanks very much. Welcome to Closing Bill. I'm Scott Wopner live from Post 9 here at the New York Stock Exchange.
0:06.2	This make or break hour begins with this remarkable run for stocks, which are higher again today on hopes consumers are going to hang in there.
0:12.4	Retail sales sales better than
0:13.8	expected, Walmart results better than feared today. We're going to ask our
0:17.4	experts over this final stretch whether data on the economy this week means the
0:21.2	rally is really back on for the time being.
0:23.7	In the meantime, take a look at the scorecard with 60 minutes to go in regulation because it certainly
0:27.6	is today, nice gains across the board.
0:30.9	We're higher all the way around. The Dow is working on its best week now since December
0:35.5	There's the Nasdack up more than 2%
0:38.1	S&P is good for one and a half. We're above 5,500
0:40.8	discretionary stocks.
0:43.1	No surprise there, they are leading the way today.
0:45.6	And I did mention the NASDAQ Tech
0:47.8	is a close second with several of those names
0:49.7	posting solid gains today.
0:51.4	We are watching shares of J.P. Morgan as well. They're going for eight days in a row
0:55.0	and they look like they're going to get that too. We'll follow it
0:58.0	over the final stretch. It does take us to our talk of the tape. The
1:00.8	rebound gaining even more steam today. So let's bring in our panel to discuss.
1:05.2	Adam Parker is the founder and CEO of Trivariate research. Joe Ternova, chief
1:09.9	strategist with Verus Investments and Alicia Levine head of investment strategy at
	...

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