Closing Bell: Wild Market Swings, CME CEO On Bond Market Volatility & The Gig Is Up 10/11/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 11 October 2022

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks taking investors on a rollercoaster ride. The major averages giving up big gains after The Bank of England warned pension funds they have just three days to rebalance positions. CME Group CEO Terry Duffy weighs in on how that will impact bond market volatility. Mukhlenkamp Fund is one of the few funds with positive returns over the last year. Portfolio Manager Jeff Muhlenkamp reveals his strategy for investing in this high inflation environment. Jefferies Sheila Kahyaoglu discusses the outlook for airlines after American raised its revenue guidance. Plus she reacts to Boeing's strong orders data and why she thinks the stock can nearly double from its current level. And Tusk Venture Partners Founder Bradley Tusk reacts to the new Labor Department proposal that could reclassify gig workers as employees instead of independent contracts and how that could impact stocks like Uber and Lyft. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Stocks had been making a big comeback throughout the session, but those gains have now gone away.
0:04.8	This is the make or break hour for your money.
0:07.4	Welcome to Closing Bell, I'm Sarah Eisen, live today in Washington.
0:11.6	The Dow is positive, but the S&P 500 is now down about 3 quarters of 1%.
0:17.0	The NASDAQ is also falling down 1.4%. Looks like we lost some of those gains and
0:21.8	some headlines in the last few moments from the Bank of England.
0:25.0	Of course, watching the turmoil there in the bond market.
0:27.0	We'll get to that in just a moment.
0:29.0	There's the impact on the US.
0:30.0	We see continued rising rates.
0:32.0	There's the 10- 3.9%, so pressure on the U.S. bond market.
0:36.0	Take a live look at some of the names that have been driving the comeback in the Dow,
0:40.0	which did, by the way way just dip into negative territory.
0:43.8	We still got some gainers out there.
0:45.1	Amgen Walmart, Walgreens, Johnson and Johnson and
0:47.6	and Travelers as far as what is subtracting the most from the Dow
0:51.4	the banks, Goldman Sachs, Microsoft Salesforce, Visa, and
0:55.6	J.P. Morgan.
0:56.8	Coming up on today's show, we're going to talk live to CME Group CEO, Terry Duffy, about the big
1:01.9	swings in the bond markets which are being
1:04.2	watched very closely right now by equity investors and coming up on overtime
1:09.0	don't miss my exclusive interview with Treasury Secretary Janet Yellen on the increasingly
	...

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