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Closing Bell

Closing Bell: The Road Ahead for the Markets 5/28/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 28 May 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Sofi’s Liz Young, NB Private Wealth’s Shannon Saccocia and Crossmark’s Victoria Fernandez map out how they think things will play out with tech in the driver’s seat once again. Plus, Nvidia’s stock popped as investors bet Elon Musk’s AI startup will deliver another windfall for the chipmaker. Star chip analyst Stacy Rasgon breaks down how he thinks that news will impact the semi sector in the long run. And, former Federal Reserve Vice Chair Richard Clarida reveals his prediction for rate cuts and the economy at large.

Transcript

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0:00.0

Welcome to Closing Bell. I'm Scott Wopner live from Post 9 here at the New York Stock Exchange

0:03.7

and this make a breakout begins with Sizzling Tech. The invidious surge continues yet again today.

0:08.3

We're going to ask our experts over this final stretch how much further some of those stocks can run and what it means for the markets

0:14.1

overall there it is there 7% in the meantime the score card was 60 minutes to go and

0:19.9

regulation has more red than green on the board as you see dials negative as is the

0:24.2

s&P. Dow is going backward drag a lot by health care and some of the standout

0:28.1

names they are mostly weaker session as you can see yields they're creeping higher

0:32.0

today the two-year hovering

0:33.3

near 5% again. Consumer confidence, well it was less bad than feared. Some of the

0:38.2

data of late has been pretty good. Yields backing up as a result. You saw what the 10 years doing there too. So

0:44.2

yields are green. We're also watching shares of Texas Instruments today. The

0:47.5

activist firm Elliot taking a stake. That's a story first reported by David

0:51.4

Faber. Stock not doing too much.

0:53.6

That's interesting.

0:54.2

We're gonna ask Stacy Raskon, by the way, about that.

0:56.5

Of course, the star chip analyst

0:58.1

is gonna be right here at Post and I.

0:59.2

We can't wait for that.

1:00.2

And biotech in cement is soaring more than 100% today.

1:04.0

That on positive drug data takes us to our talk of the tape.

1:07.5

The road ahead for the markets with tech once again apparently in the driver's seat.

1:11.5

Let's bring in so far's head of investment strategy,

...

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