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Closing Bell

Closing Bell: Trust the Bounce or Stay Vigilant? 3/17/25

Closing Bell

CNBC

Business, News

4.8118 Ratings

🗓️ 17 March 2025

⏱️ 41 minutes

🧾️ Download transcript

Summary

How believable is this bounce? Stocks jumping just after one of the quicker 10% corrections on record and just ahead of a big Fed meeting. So, what should investors do next? We discuss with Chris Hyzy from Merril & Bank of America Private Bank, Courtney Garcia from Payne Capital and JPMorgan’s Jordan Jackson. Plus, Evercore ISI’s Roger Altman tells us what President Trump’s tariffs and policy changes could mean for your money. And, 3Fourteen Capital’s Warren Pies breaks down why he sees some potential economic weakness ahead.

Transcript

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0:00.0

And welcome to closing bell. I'm Mike Santoli in for Scott Wapner today. We are live at Post 9 from the New York Stock Exchange. This make-a-break hour begins with stocks extending Friday's strong rebound rally as traders take heart in a quiet day on the tariff front and a better than feared retail sales report. Here's where we stand with 60 minutes to go in regulation. After a hesitant start to the

0:21.6

week, the S&P 500 clicked into gear right around midday. You see it's up more than 1% right now,

0:28.1

with industrials, energy and financials taking the lead, building upon Friday's 2.1% pop in the S&P.

0:34.9

The gains are coming despite some pressure from Nvidia and Tesla. As some

0:40.5

Mag 7 names continue to sputter so far this year, you see Invidia almost back to the flatline

0:45.4

but still underperforming as Tesla loses more than 4%. That brings us to our talk of the tape.

0:50.6

How believable is this bounce coming after one of the quicker 10% corrections on record and just ahead of a Federal Reserve meeting as risks flare up on both sides of the Fed mandate.

1:01.0

Let's ask our panel. Chris Heise is CIO at Maryland Bank of America Private Bank.

1:06.0

Courtney Garcia is Senior Wealth Advisor at Payne Capital Management and Jordan Jackson is Global Market Strategist at JPMorgan.

1:13.1

Courtney, a CNBC contributor. Welcome to you all. Chris, let's set this up here. I guess to know if maybe the

1:21.4

correction has run its course, you might have to have some idea of what the correction was pricing in

1:26.3

and reacting to and what the market's been contending with and whether we have some idea of what the correction was pricing in and reacting to and what the market's

1:27.9

been contending with and whether we have some clues as to whether it's lifting.

1:32.6

Part of it's seasonal.

1:33.8

We've seen a lot of this, both in the economic data plus what goes on structure in the market

1:38.0

wise, et cetera.

1:39.3

You had a lot of cell programs hit.

1:40.9

If you're into the day-to-day activities the tape of the day a lot of

1:44.3

sole cell programs hit for obvious reasons a lot of uncertainty etc but then

1:48.7

there's always a high noise to signal ratio soft data versus the hard data and

1:54.6

all this is coalescing in the last four to six weeks or so the high-valued

1:58.4

parts of the market obviously taking the hit. They're the big

...

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