Closing Bell: Too-Stretched for Comfort? 5/31/24
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 31 May 2024
⏱️ 43 minutes
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| 0:00.0 | Welcome to Closing Bell. I'm Scott Wapner live from Post 9 here at the New York Stock Exchange. |
| 0:04.2 | This make a breakout begins with some big questions about this rally. |
| 0:07.6 | Is there enough to keep stocks climbing in June or is this market already too stretched for comfort? |
| 0:12.2 | We'll ask our experts over this |
| 0:13.4 | final stretch including Goldman's Tony Pasquarello. He will be here at |
| 0:17.6 | post nine in just a little bit. In the meantime your scorecard was 60 |
| 0:21.4 | minutes to go in regulation in the week looks like this. In the |
| 0:25.0 | main time, your score card was 60 minutes to go in regulation in the week looks like this. The Fed's favorite inflation reed came in as expected. |
| 0:28.0 | The market, though, unable to get much of a PCE pop. |
| 0:31.0 | The Dow's up about two-thirds of 1% but as you see the S&P and the Nasdack are |
| 0:36.2 | negative yields they're lower to but as we said stocks not getting much of a |
| 0:41.8 | bump from that nor is tech tech. It's the weakest |
| 0:44.5 | sector today as names like Invidia, Microsoft Meta, and Amazon all give a |
| 0:49.1 | little bit back today. Gap though is surging after its earnings delveau the opposite direction it is |
| 0:55.1 | dropping and dropping sharply by 19% on its outlook it does take us to our talk of |
| 1:00.3 | the tape there was no sell in May and go away as the major averages |
| 1:03.5 | pays for their sixth positive month and seven. Big question now, what now? |
| 1:08.3 | Let's ask Cameron Dawson, Chief Investment Officer for New Edge Wealth here with me as |
| 1:12.4 | you see at post nine |
| 1:13.9 | welcome back it's nice to see on this Friday last trading day of the month that is the |
| 1:18.0 | big question what now April was bad we roared back in May what we do from here? I think we have to appreciate just |
| 1:25.0 | how much deterioration there has been under the surface and a lot of churn. The market's been |
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