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Closing Bell

Closing Bell: What’s Next for the Rally? 7/29/25

Closing Bell

CNBC

Business, News

4.8118 Ratings

🗓️ 29 July 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

What might hold the key to the next move in this rally? We discuss with Trivariate’s Adam Parker, Invesco’s Brian Levitt and Capital Area Planning Group’s Malcolm Ethridge. Plus, we get a pulse check on the credit market with Mark Okada of Sycamore Tree Capital. And, top financial advisor Rich Saperstein tells us how he is advising his clients right now.

Transcript

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0:00.0

Brian, thanks so much. Welcome to closing bell. Scott Wapner, front and center this hour from post 9 at the New York Stock Exchange.

0:06.8

Stock searching for a new catalyst today. The trade talks are front and center. Mega cap earnings about to get real.

0:12.6

We discussed with our experts over this final stretch today. In the meantime, take a look at the scorecard here with 60 to go in regulation.

0:19.2

We're modestly lower. We have really been for most of

0:21.8

the day to day. Several names getting hit after their earnings reports, including United Health,

0:27.2

Merck, Royal Caribbean, and Spotify, just to name a few. That's how those losses look at this hour.

0:33.3

Novo Nordus shares are slammed today after cutting guidance. Some stocks in those related groups are falling as well, but that one's ugly, down more than 20%.

0:41.5

It takes us to our talk of the tape, the road ahead for this record-setting market, and what might hold the key to the next move?

0:48.7

We begin with our own Aman Javis today.

0:50.4

He is in Stockholm as trade meetings wrap up with the Chinese.

0:55.5

Amen, you also spoke with the Treasury Secretary after those meetings ended. Yes, Scott, that's right. Treasury Secretary,

1:01.3

speaking to us just after he got off the phone briefing President Trump about what had happened

1:06.4

during those talks. We asked him a whole bunch of questions. A couple that I thought made news. One,

1:12.0

on this question that's been swirling since Sunday on the EU trade deal, which is there was a

1:18.3

$600 billion piece of that trade deal that was agreed to be European purchases of American

1:24.3

products. After the deal was announced, EU officials came out and said,

1:29.0

well, actually, that will be private sector purchases, and we as the government can't mandate

1:34.5

that the private sector make those purchases. So we have no way of really enforcing that.

1:39.4

I asked the Treasury Secretary if the U.S. is convinced that that $600 billion is a real commitment from

1:46.4

the Europeans. And here's what he had to say. I think that's going to be closely monitored.

1:54.4

I think President Trump believes that this is a good deal. I mean, on paper, this is a deal of the century. And I

2:05.6

would be surprised over time if the EU doesn't hold up their end of the bargain or the 15%

...

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