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Closing Bell

Closing Bell: The Sweet Spot for Stocks? 2/29/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 29 February 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Are we really in a sweet spot for stocks? JP Morgan Asset Management’s Gabriela Santos and Virtus’ Joe Terranova give their expert market opinions. Plus, Professor Aswath Damodardan – known as the Dean of Valuation – is breaking down how he is navigating the mega caps right now. And, Lauren Goodwin from New York Life Investments still isn’t sold on the bull market. She explains why.

Transcript

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0:00.0

All right, welcome to Closing Bell. I'm Scott Wobner live from Post 9 here at the New York Stock Exchange.

0:05.0

This make or break hour begins with the rally as another big month comes to a close, a month where stocks have broadened,

0:10.0

and many say the bull case is hardened. We'll ask our experts

0:13.8

over this final stretch what it means for your money in the weeks ahead. In the

0:16.8

meantime take a look at your scorecard with 60 minutes to go in regulation.

0:20.3

It is the final trading day of the month. No big surprises from that highly anticipated PCE report today,

0:25.0

and that's helping some tech and small cap stocks

0:28.0

which are clearly more sensitive to moves in interest rates.

0:31.0

You see what we're doing here a bit mixed but the

0:33.0

S&P and NASDAQ are positive. Many of the mega caps higher with the

0:36.1

exception of Apple. How many times have we said that? And AMD is a big gainer and

0:40.4

approaching 300 billion dollars in market cap, that's its largest ever.

0:44.6

NVIDIA, what else?

0:45.7

Closing out the month with yet another gain, almost 800 bucks.

0:49.9

Not so much for Snowflake today.

0:51.6

It's tracking for its worst day ever following its

0:53.5

earnings and guidance. It all takes us to our talk of the tape whether we're

0:57.3

really in a sweet spot now for stocks. Let's ask Gabriela Santos, the chief

1:02.2

market strategist for

1:03.3

J.P. Morgan Asset Management, as you see, live with us once again at

1:07.4

Post 9.

1:08.4

Nice to see. Welcome back.

...

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