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Closing Bell

Closing Bell: Weighing the Fate of the Rally 8/26/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 26 August 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Now that rate cuts are all but confirmed … what is next for the rally? Requisite Capital’s Bryn Talkington tells us what she is expecting. Plus, Former Dallas Fed President Robert Kaplan gives his first take on Powell’s Jackson Hole speech. And, chip stocks got wrecked in today’s session. Seema Mody reveals what’s behind that drop.

Transcript

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0:00.0

All right guys thanks so much welcome to closing bell. I'm Scott

0:02.2

Wobner live from post nine here at the New York Stock Exchange. This make

0:05.2

a break hour begins with a dowel's new record high as sectors outside of tech

0:08.8

continue to rally post-Powell. We'll ask our experts over this final stretch,

0:12.6

whether the broadening can continue

0:14.9

as NVIDIA earnings loom large, just a couple of days.

0:17.9

In the meantime, take a look at the scorecard

0:19.7

with 60 minutes to go in regulation.

0:21.7

We've got the best sector today being energy. Oil's been up

0:24.4

about 3%. So there's the XLE. Stapels, utilities, financials among the groups that were

0:29.4

performing better today. S&P under some pressure though as most of the mega cap tech names remain in the red and that does include

0:37.1

NVIDIA at the top of the list.

0:38.7

It's still down 2% of course earnings coming midweek.

0:41.7

Apple sending out a new iPhone invite,

0:43.9

which we'll discuss in just a few minutes.

0:46.5

It does take us to our talk of the tape,

0:47.8

the fate of this rally.

0:49.1

Now that rate cuts are all but confirmed.

0:51.3

Let's ask Brent Talkington, managing partner with requisite capital a cn't be seen contributor

0:55.6

as well and as you can see is back at post nice nice to see you

0:59.1

so all right the fed chair delivered yeah and now we have another big week because now we need

1:03.9

invidia to to deliver don't we I mean the market's been broadening do do we need

...

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