Closing Bell: Trade Relief Sparks Market Surge 5/12/25

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 12 May 2025

⏱️ 42 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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0:00.0	Welcome to closing bell. I'm Scott Wobner live from Post 9 right here at the New York Stock Exchange.
0:04.1	This maker breakout begins with a stock surge today. And what happens now that the U.S. has rolled back its tariffs on China?
0:11.1	We'll ask our experts over this final stretch, including Schwab's Lizanne Saunders.
0:15.3	She will join me in just a bit. We're looking forward to that. In the meantime, let's show you the scorecard here with 60 to go in regulation.
0:21.6	Take a look at that. 4% on the NASDAQ, 3% for the S&P. We're pretty much at the highs of the day or thereabout,
0:29.3	and we've been strong from the get-go following this weekend's trade meeting and news of that breakthrough.
0:34.1	Tech and chips, they are leading. That's why the NASDAQ looks the way it does this hour.
0:38.5	Discretionary doing well along with China exposed stocks like Nike and Caterpillar and Starbucks. And just about
0:44.9	anything that has exposure there is up big. Defensives like staples and utilities, they're
0:50.8	going the opposite direction and for obvious reasons today. How about gold,
1:00.9	sharply weaker? The VIX, also in retreat today, below 19. It does take us to our talk of the tape. Is it the all clear that we've been waiting for? Let's bring in Avery Sheffield, Vanage Rock,
1:06.1	co-founder, CIO, and portfolio manager back with us at post nine. Nice to see you again.
1:10.3	Great to be here.
1:10.9	How would you answer that? Is this all clear? Nothing's ever all clear, but I think that this is a
1:17.2	materially positive outcome. And I think 90 days from now, both the United States and China have
1:23.7	seen the very negative consequences of decoupling, and we're probably unlikely to have
1:27.9	tariffs higher from here unless there's some geopolitical event that I don't foresee.
1:33.0	So, yeah, I think that things are definitely much better, and we're getting back to closer
1:37.7	to a place than before the tariffs, because I think 30% tariffs from China can be absorbed
1:42.9	by both economies, as well as the 10 percent
1:46.0	floor elsewhere in the world.
1:47.3	So if not full, all clear, do you feel like it's enough of a lifting of the fog for both
	...

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