Stocks Jump, Inflation Nation & Strong Foundation 1/11/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 11 January 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks rallying ahead of Thursday's key inflation data. Investors betting inflation will continue to show signs of slowing. The Shelter Index was the largest contributor to inflation in November, but Zelman & Associates Director of Research Dennis McGill says he thinks rent prices are finally peaking. Kroger Chairman & CEO Rodney McMullen says food prices are holding steady, but believes there will be some moderation later this year. He also discusses how high prices are impacting consumer spending behaviors. JPMorgan Asset Management's Phil Camporeale says he is skeptical about the recent market rally and explains why he thinks bonds look more attractive than stocks. Beauty store retailer Ulta hitting another all-time high. D.A. Davidson's Michael Baker says this stock can keep rallying and be a strong foundation for your portfolio. 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 building on Tuesday's gains with the NASDAQ once again leading the charge here as Wall Street awaits tomorrow's inflation data.
0:07.0	This is the make or break hour for your money.
0:09.3	Welcome everyone to Closing Bell, I'm Sarah Eisen.
0:11.8	Take a look at where we stand broadly in the market.
0:13.5	There's the Nasdaq of 1.3%.
0:15.1	Dao's up 200 points or so, just about the highs of the day.
0:19.0	The S&P 500 is up a full percentage point.
0:21.6	So we're seeing more sizable gains than we did this
0:24.2	time yesterday every sector is higher right now except for consumer
0:28.2	staples that's the only one that's underperforming real estate is having a huge
0:31.8	day up 3.3% some of those
0:33.8	routes climbing back like crazy consumer discretionary also strong Amazon's a
0:38.8	big part of that reason the small caps up almost a percent as well and yields are a little bit lower ahead of
0:44.2	CPI buying bonds check out the names driving the strength in the NASDAQ 100 today
0:49.0	You can see the comeback in tech here play out Luc, Lucid, Lassian, AirBnB, Amazon and Alumina.
0:55.4	Coming up on the show today, two key guests to give you an inside edge on inflation ahead
1:00.6	of tomorrow's official government C. P.
1:03.4	We're going to talk to Dennis McGill
1:04.6	from Zelman Associates for his read
1:06.8	on the all-important rent component, housing,
1:10.9	driving prices up lately.
1:12.1	Plus, the CEO of Kroger joins us exclusively to talk
	...

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