Closing Bell: The Year Ahead for Your Money 12/7/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 7 December 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

What’s in store for your money in the new year? Tom Lee from Fundstrat is forecasting more strength for stocks in 2024. He makes his case and lays out his forecast. Plus, CIC Wealth’s Malcolm Ethridge reacts to the surge in Alphabet – a stock he sold earlier this year. He explains what he needs to see from the company before getting back in on that trade. And, Broadcom and Lululemon are reporting results in Overtime. Shareholder Joe Terranova breaks down what he’s expecting from those numbers.

Transcript

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0:00.0	Kelly, thanks so much. Welcome to Closing Bell. I'm Scott Wobner live from Post 9 right here at the New York Stock Exchange.
0:06.0	This make-a-break hour begins with Tech on a tear today. That sector surging back after a bit of a breather.
0:11.0	We'll ask Major Market Bull, Tom Lee, how far it can run in
0:15.2	2024. He's going to join us in just a few minutes. Also going to reveal his target
0:20.4	for the S&P in the year ahead.
0:22.7	In the meantime, take a look at your scorecard with 60 minutes to go in regulation,
0:26.6	all about the NASDAQ today, but it's green across the board.
0:29.6	AI players dominating today, Alphabet and AM d leading the way with the big
0:34.4	gains there take a look at that am d near 10% alphabet of 5.5% that is the largest
0:41.0	percentage jumps since July for that stock
0:43.4	broadcom bouncing to that company getting set to report earnings in overtime tonight's
0:48.3	shares on a massive run this year as well about 65% well it's been another rough day for energy. That sector
0:55.4	is sinking yet again. Take a look at the chart. It's been ugly of late. Crude
0:59.8	getting back to 70 bucks momentarily and that's before a midday reversal there you see
1:04.1	it a little bit of a rally back not much does take us to our talk of the tape the year
1:08.3	ahead for your money as some bulls suggest this market can keep running well into
1:12.4	twenty four one of those optimists will suggest this market can keep running well into 2024.
1:13.4	One of those optimists, an Uber one at that is Tom Lee.
1:16.5	He's Funstratch Managing Partner Head of Research.
1:19.3	Back with us at Post Nine.
1:20.8	Welcome back.
1:21.7	Great to be back, Scott. All right, so before we get to where you think we can go,
	...

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