Stocks Jump, Streams Come True and Alphabet’s A.I. Reinforcements 1/20/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 20 January 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks rallying on Wall Street, although the Dow & S&P 500 are lower for the week. Richard Bernstein Advisors CEO Rich Bernstein says January is historically a risk-on month, but he is cautious that the outperformance will last. JPMorgan Chief U.S. Economist Mike Feroli says the market may be misreading the Federal Reserve and that could prove to be a major headwind for stocks. Netflix one of the big tech winners after better than expected subscriber growth. Wedbush’s Alicia Reese lays out the case for why Netflix shares can keep rallying. Goldman Sachs shares under pressure on a report the Federal Reserve is probing its consumer business. One of the reporters that broke the story explains the specifics of the probe. And Oppenheimer’s Jason Helfstein discusses Alphabet reportedly asking founders Sergey Brin & Larry Page to help win the A.I. war with competitors like ChatGPT and how that could impact the stock. 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	Stoc
0:02.0	rebounding in Friday Trading, Gaming Steam throughout the session
0:04.0	with the NASDAQ on the verge of turning positive for the week.
0:07.0	This is the make or break hour for your money.
0:09.0	Welcome to Closing Bell.
0:10.0	I'm Mike Santoli in for Sarah Eisen.
0:12.0	Here's where things stand in the markets. They have... I'm Mike Santoli in for Sarah Eisen.
0:12.8	Here's where things stand in the markets.
0:14.6	They have levitated throughout the day.
0:16.0	All the indexes have.
0:17.4	S&P 500, you see up about a percent and a half.
0:20.4	It's down a little more than a percent and a half for the week at this point
0:23.7	Nasdaq there the outperformer obviously strong Netflix earnings as well as lifts and some of the other big caps like
0:29.5	alphabet ten year no yield has been bouncing the last couple of days.
0:33.0	It is now up toward 3.5 percent again.
0:36.0	Here's a look at two stocks leading the tech rally.
0:39.0	There's Netflix on the back of strong subscriber numbers and alphabet
0:42.0	after announcing a round of layoffs.
0:44.6	We'll talk more about both of those moves throughout the show.
0:48.6	Take a look at the S&P 500 though and where it now sits, we've gotten this little lift toward 3950 just a little
0:56.2	cup three day pullback I would say also an interesting setup in terms of we were at
1:01.5	4,000 last Friday this is the third Friday of the year
	...

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