Closing Bell: Trading the Market Resiliency 6/8/23

Closing Bell

CNBC

News, Business

4.4 • 140 Ratings

🗓️ 8 June 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Are the bears suddenly sweating as stocks stay resilient? Greg Branch of Veritas Financial Group defends his market stance. Plus, EMJ’s Eric Jackson breaks down Tesla’s latest hot streak and the two things that he thinks could mean further gains for that name. And, Pippa Stevens explains what’s behind crude’s big move today.

Transcript

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0:00.0	Welcome to Closing Bell. I'm Scott Wavner. This make a break hour begins with another run at 4,300 for the S&P and whether the Bulls are now fully in control of this market.
0:10.0	We'll ask noted Bear, Greg Branch, that very question in just a moment.
0:14.2	In the meantime, here's your scorecard with 60 minutes to go.
0:17.2	In Regulation, Strong Day for Boeing, United Healthcare,
0:19.7	McDonald's and Merck sending the Dow nicely hired today. You can see those stocks right there. In fact,
0:24.5	health care one of the better sectors overall today. Pretty good bounce back too for
0:28.3	tech after the Nasdaq suffers one of its worst days and sometime yesterday there's your
0:33.4	NASDAQ today good for just about 1% does lead us to our talk of the tape
0:37.6	whether the bears are suddenly sweating as stocks stay resilient and the vix
0:42.0	drops again.
0:42.8	Well, let's ask one.
0:44.0	Greg Branch of Veritas Financial Group
0:46.4	is back with us today.
0:48.4	I don't know, I can't see the picture very well.
0:50.1	Are you sweating?
0:51.3	Because you are a bear and this market's been getting away from you
0:54.3	hasn't it? It has got but I am sweating no more than I was sweating in August of
1:00.0	2022 and it seems a lot like August of 2022. Shall I count the ways?
1:06.0	Well I mean you don't have to go through all of them but surely you had to have looked
1:10.1	at this market and wondered to yourself am I wrong in fact do the the bulls now have
1:16.8	control based on way things have been trading honestly yeah look and I think
1:22.0	I think we we ask ourselves that question every day, Scott.
	...

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