Stocks Struggle, All Eyes On The Fed & The Next Uber 11/1/22

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 1 November 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks kicking off a new month in the red after more evidence the labor market remains resilient, which could force the Federal Reserve to maintain its hawkish stance to curb inflation. Macropolicy Perspectives' Julia Coronado says investors will be disappointed if they are expecting an outright dovish message from the Fed when it announces its interest rate decision tomorrow. Elon Musk announcing the new pricing for Twitter Blue. Evercore ISI's Mark Mahaney reacts to that news as well as how social media stocks are being impacted by the FCC Chair's call to ban TikTok in the U.S. Kindred Ventures Founder Steve Jang, who was an early investor in Uber, discusses the company's revenue beat and what he thinks will be the next Uber. JMP Securities CEO Mark Lehmann discusses why he is now so bullish on software stocks. And Hologic CEO Steve MacMillan breaks down the medical technology company's strong earnings and what is driving unprecedented strength across its core businesses. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

Click on a timestamp to play from that location

0:00.0	Well stocks had been tracking for more gains to kick off a new month but some
0:06.1	early session data took the steam out of the rally. This is the make or break hour
0:10.3	for your money. I'm Sarah Eis and. Welcome everyone to closing bell. Take a look at
0:14.1	where things stand in the market. The Dow, it's certainly off the lows. In fact, we're coming
0:18.4	back nicely here, only down 58 points, got as low as down 226 but earlier as high as 242 what's
0:25.2	contributing the most of the doubt today it's Goldman Sachs financials are
0:28.3	having a good day all the value sectors really are doing quite well today
0:31.6	energy utilities materials health care,
0:34.4	that's what's green, S&P down a quarter of a percent,
0:37.4	small caps outperformed for a second day in a row.
0:39.5	Take a look at some of the big earnings movers of the day.
0:42.2	Uber surges on a big jump in gross booking,
0:45.8	so-by jumping on a beat and raise as well.
0:48.9	Pfizer beating estimates, it's up 3.3 percent.
0:51.6	And Eli Lilly, topping estimates Lilly topping its full year forecast.
0:55.0	That is the earnings loser of the day.
0:58.0	Coming up on the show today, we'll talk about Uber's big move higher and other opportunities
1:02.0	in tech when we are joined by early Uber investor Stephen
1:05.2	Jang from Kindred Ventures.
1:07.2	Plus a COVID winner that's winning big today.
1:10.0	The CEO of Hologic will join us on the back of strong earnings
1:12.9	to talk about the current setup for medical tech companies.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.