Closing Bell: Tracking Market's Tailwinds 5/16/25

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 16 May 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

From the open to the close, “Closing Bell” and “Closing Bell: Overtime” have you covered. From what’s driving market moves to how investors are reacting, Scott Wapner, Jon Fortt, Morgan Brennan and Michael Santoli guide listeners through each trading session and bring to you some of the biggest names in business.

Transcript

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0:22.5	Okay, thanks so much. Welcome to closing bell. I'm Scott Wobner, live from Post 9 here at the New York Stock Exchange this Friday. This maker breakout begins with streaking stocks, which are about to score another positive week. The question now, how far can they go? With questions about trade war and the economy still swirling, not to mention the president's tax bill, which faced some friendly fire on Capitol Hill today.
0:25.3	We'll have the very latest on where things stand in just a moment.
0:30.0	In the meantime, let's show you the scorecard here with 60 to go in regulation today.
0:34.7	As you see, the majors are all higher, not that far from the highs of the day either,
0:38.5	with the Dow getting a big bump during halftime today has filings revealed several insider purchases at United Health. High Tower Stephanie Link also adding more shares,
0:44.5	as she told us then. Look at that stock today. It's been a wreck lately, but it is up better than
0:50.4	six and a half percent. The Russell's up again. And now on pace for a six-week
0:55.3	wind street. We'll follow that also at the highs of the day. Meta shares are lower today,
1:00.5	following that report during yesterday's program that the company was delaying its newest AI model.
1:05.8	We'll follow that as well. It does take us to our talk of the tape. After such a strong rebound, is there enough left
1:12.0	in the tank to take stocks much higher? Let's ask the Wharton School professor of finance, Jeremy Siegel.
1:17.9	He is also Wisdom Tree's chief economist. It's always good to see you on what's become a Friday
1:23.7	tradition. Hope you're well. I'm well, Scott. Thank you. So it's been an incredible
1:29.1	comeback. Does it have more steam? Yeah, I think so. Actually, I'm becoming more bullish.
1:37.7	I call it the Trump pivot. Remember six months ago? We were talking about the Powell pivot.
1:42.7	I think the Trump pivot,
1:44.3	you know, the day that we saw those tariffs go, you know, from 145 to 30. I think right now
1:51.5	it's coming into focus. It's going to be a 10 and 30, 10 basically for the rest of the world,
1:57.2	30 for China, and of course, aluminum steel, a couple more on there.
2:01.1	But it's coming into focus.
2:03.2	It's not a good thing.
2:04.3	It isn't positive.
	...

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