Stocks make a comeback, Moderna drags, Rare interview with Ralph Lauren CEO 9/19/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 19 September 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks clawed back from early losses and finished the day with modest gains, as Wall Street awaits this week’s key Fed decision. Morgan Stanley’s Mike Wilson joins with a warning about earnings season, and breaks down the defensive areas he’s recommending now. Meantime Moderna pulled back sharply along with other vaccine names. Jefferies analyst Michael Yee discusses the move and if he’d recommend buying the dip. And the CEO of Ralph Lauren joins in a rare interview to break down the company’s long-term strategy and how he views the consumer in America and abroad. 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	Stahliakeying back here from early losses, but stalling near the flat line as a key week of trading gets underway.
0:06.0	The most important hour of trading starts now.
0:08.0	Welcome everyone to Closing Bell. I'm Sarah Eisen. Take a look at where we stand right now in the market.
0:13.2	We've just gone positive on the Dow and the S&P 500.
0:16.2	Nasdaq was a little bit farther along.
0:18.5	They're up a little more than a tenth of 1% looking to reverse a little bit of last week's losses.
0:24.2	Remember, we were down almost 5% on the S&P.
0:26.3	What's working right now?
0:27.6	It's materials, industrial, consumer discretionary and utilities.
0:30.7	That's what's leading us higher.
0:32.3	Technology is also doing well as you can
0:34.0	see by the NASDAQ health care, real estate, energy, that's what's underperforming.
0:38.5	The chart of the day is the 10-year Treasury-old. This is going to be very much in focus ahead of the Fed, hitting its highest level
0:44.8	earlier since 2011, touching about 3.5 percent as we await Wednesday's Fed decision.
0:51.3	Coming up on the show today, Morgan Stanley's chief U.S.
0:53.9	equity strategist Mike Wilson will join us to talk about the turbulence we've seen
0:58.0	in the market and why he thinks Wall Street's earnings expectations are
1:01.6	still too high.
1:03.6	Sticking his bearish guns, plus an extremely rare interview with the CEO of Ralph
1:07.4	Lauren.
1:08.4	It is his first TV interview in the role.
1:10.4	He's been CEO almost five years.
	...

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