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Closing Bell

Closing Bell: What’s Next For Stocks? 5/16/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 16 May 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Joe Terranova of Virtus and Ayako Yoshioka of Wealth Enhancement Group break down where they see markets headed – as the major averages hit record highs. Plus, Blackrock’s Rick Rieder reveals his forecast for the Fed, rates and the economy. And, Deere shares dropped in today’s session following some disappointing guidance. We dig into that report and what it could mean for the rest of that space in the months ahead.

Transcript

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0:00.0

All right guys thanks so much welcome to closing bill I'm Scott Wabner live from post nine here at the New York Stock Exchange

0:05.0

This make-a-break hour begins with surging stocks the break to new highs and then what happens next we will ask our experts over this final stretch including

0:13.4

Black Rocks Rick Reader. He will join us exclusively in just a little bit on how to

0:17.6

play the markets right now. In the meantime, take a look at the

0:20.1

scorecard with 60 minutes to go and regulation the Dow topping 40,000 for the first

0:24.1

time ever earlier today you know about that by now all three of the major averages

0:28.4

reaching new highs and we'll track it over this final stretch Apple that is a big story lately. Its own comeback has helped that

0:35.5

last mile if you will to 40K. Falling yields a big part of this too, maybe not today, but certainly

0:41.6

since Fed Chair Powell calmed the markets a few weeks ago.

0:45.2

It does take us to our talk of the tape.

0:46.9

What is next for stocks?

0:48.6

Let's ask Joe Terranova of Verdes and a CMBC contributor.

0:51.4

Ayeko Yoshioka of wealth enhancement groups.

0:53.3

Great to see you both.

0:54.3

Aya, you first. So here we are. Now what?

0:58.5

Yeah, it's a great backdrop. You know, we've had a nice rise in markets equity markets have been calmed down by

1:04.8

the inflation print from yesterday and so I think it's a good backdrop for stocks.

1:09.7

Joe do we do here we top out do we keep going is there a message in how we

1:16.3

rebounded and so you know severely from the April lows there absolutely is a

1:21.5

message in how we rebounded it and it's about profitability

1:25.3

Margin expansion and think about it. We set the lows heading into the earnings season

1:30.2

it's been all about coming out of the earnings recession that really has been the

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