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Closing Bell

Goldman Sachs weighs on the Dow, HP CEO on China supply chain, Williams-Sonoma CEO on the consumer 1/17/23

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 17 January 2023

⏱️ 43 minutes

🧾️ Download transcript

Summary

It was a mixed session for the major averages as Goldman Sachs weighed on the Dow, while the Nasdaq moved between gains and losses. CFRA’s Ken Leon discusses Goldman’s earnings, along with Morgan Stanley results and his outlook for the rest of the banks. Sara Eisen sits down the CEOs of HP and Williams-Sonoma at the World Economic Forum in Davos, to discuss their views on the economy, the consumer, China’s reopening, and the supply chain. Amit Daryanani from Evercore ISI joins to break down his bullish call on Apple. Plus the latest on a big drop for Travelers and Ryan Cohen’s new activist campaign. 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

It is a mixed session for the major averages as the NASDAQ moves higher while Goldman Sachs weighs heavily on the dow.

0:06.4

This is the make or break hour for your money. Welcome to closing bell. I'm Mike Santoldi.

0:10.4

Sarah Eisen is at the World Economic Forum in Davos, Switzerland.

0:14.0

Here's where things stand in the market.

0:16.2

The S&P 500 fighting its way back toward that 4,000 mark, but you do see the weakness

0:20.8

there in the Dow all day.

0:22.6

It's been the underperformer under the weight

0:24.8

of a couple of big financial components.

0:26.6

Look at the worst performers so far today in the Dow.

0:30.8

Goldman Sachs leading to the downside.

0:32.8

Remember, this is a price weighted index,

0:34.8

big individual dollar drops, really do weigh on a traveler's

0:37.9

also a disappointment on earnings.

0:39.9

We're going to talk about that a little bit more.

0:41.5

And then Verizon 3M Honeywell also contributing to

0:45.0

some of that downside action tech a relative bright spot today.

0:48.1

Coming up on today show we have two key interviews from Davos on the consumer and the supply chain. We'll hear from

0:54.3

HP CEO Enrique Lores about the PC market and what he's seeing out of China and later

0:59.5

the CEO of William Sonoma weighs in on the state of the US consumer and her read on inflation.

1:06.9

Let's get a look at the market and how it's situated relative to where we've been.

1:10.3

First couple of weeks of the year really got people thinking that we had a

1:13.6

risk on move very broad rally in the first couple of weeks in the S&P 500 some

...

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