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Closing Bell

Closing Bell: Time to Lean in … or Back Off? 7/11/23

Closing Bell

CNBC

Business, News

4.8118 Ratings

🗓️ 11 July 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

Is it time to lean in to this market or back off and wait for a better entry point? Lauren Goodwin of New York Investment Management and Gabriela Santos of JP Morgan Asset Management give their takes. Plus, CI Barrett’s Amy Kong explains where she is seeing strength in tech and health care. And, Eric Johnston of Cantor Fitzgerald defends his bear case.

Transcript

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0:00.0

Kelly, thanks so much. Welcome to Closing Bell. I'm Scott Wobner. This make or

0:04.6

break hour begins with the countdown to tomorrow's inflation report. Your

0:08.5

final stretch to get ahead of that and what it really means to this rally. We'll ask two market guests that

0:14.0

very critical question in just a moment. In the meantime here's a scorecard

0:17.7

with 60 minutes to go in regulation. The Dow getting a big boost today from

0:21.4

industrial names like 3M and Ingersoll Rand and Boeing which

0:25.0

posted more strong delivery numbers. Dow is good for three quarters of 1%.

0:28.7

The ETF that tracks industrial's by the way hitting a new all-time high today.

0:32.5

Salesforce is helping tech rates.

0:35.0

Well interest rates, they've been mostly lower

0:37.0

ahead of that CPI print in the morning.

0:40.0

There's your NASDAQ, 34 points, a a quarter of 1% brings us to our talk

0:44.1

to the tape whether it's time to lean into this market or back off and wait for a

0:48.9

better entry point let's ask Lauren Goodwin senior head of multi asset strategy for New York life investment management.

0:55.8

Gabriela Santos is here as well. Global market strategist for J.P. Morgan asset management.

1:01.4

Both here at Post-9.

1:03.0

As you can see, ladies welcome.

1:04.3

It's good to have you.

1:05.4

All right, Lauren, you first, what's really at stake tomorrow?

1:08.3

CPI.

1:09.0

Not a lot, not a lot.

1:10.4

Because the Fed's already gonna go.

...

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