Closing Bell

The major averages closed lower, near session lows. Vital Knowledge’s Adam Crisafulli and Alejandra Grindal, Ned Davis Research Chief Economist, break down the market action as the US creeps closer to a potential default. Congressional leaders speak after another meeting at the White House. OpenAI CEO Sam Altman spoke before Congress today; our Steve Kovach reports on the key takeaways and Cloudflare CEO Matthew Prince on how AI will impact his business. Tesla annual meeting is tonight; our Phil LeBeau on what investors are watching most closely. SAP CEO Christian Klein on AI and the cloud, plus Nubank reported strong quarterly numbers from its business as a digital bank in Latin America. CEO David Velez on the company’s expansion since its 2021 IPO.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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Major averages closed higher, reversing losses in morning trading. Oakmark’s Tony Coniaris on where is finding value in this market. Plus AEI’s Jimmy Pethokoukis and JPMorgan’s Mike Feroli break down the impact debt ceiling talks are having on the market. Shake Shack shares had a strong day after activist investor Engaged Capital disclosed a 6.6% stake; 13D Founder Ken Squire on why there have been so many high-profile campaigns in 2023. Mortgage Bankers Association CEO Bob Broeksmit on the hottest areas in the country. Wedbush’s David Nierengarten on the hottest takeover targets in the biotech sector.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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Major averages closed lower to end the week, marking two straight negative weeks for the Dow and S&P 500. Crossmark’s Bob Doll and GenTrust’s Mimi Duff break down the week of action and look ahead to next. Anduril Industries ranked #7 in this year’s CNBC Disruptor 50; founder Palmer Luckey talks all things defense, including the role of AI in the industry. Our Julia Boorstin takes a look at the possible impact Twitter’s new CEO will have on its ad revenue. Perrigo CEO Murray Kessler on the FDA advisory panel voting to recommend the company’s OTC birth control. Plus, three key stocks picks for your portfolio from Bruderman & Co.’s James Bruderman. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Elon Musk stepping aside as CEO of Twitter – presumably to spend more time on everything else he has going on… including Tesla. That stock is now looking for momentum. EMJ’s Eric Jackson gives his forecast.  Plus, Morgan Stanley’s Chris Toomey says one sector is “priced to perfection.” He explains which one and why. And, Jessica Inskip of Options Play highlights the key technical levels investors should be watching. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Dow closed lower today, dragged down by Disney. The S&P 500 also fell while the Nasdaq ended in the green. 248 Ventures’ Lindsey Bell and Annandale Capital’s George Seay talk today’s market action. CFPB Director Rohit Chopra, who sits on the FDIC Board, discusses the FDIC’s proposal to replenish its $16B hole in deposit insurance after a string of bank failures. He also talks the CFPB’s new guidelines for personal financial data. Unity Software popped after a strong quarterly report; CEO John Riccitiello discusses what’s next. Andreessen Horowitz’s Katherine Boyle joins on the firm’s new investing in “American Dynamism” fund and why founders are excited to invest in companies that move America’s institutions forward. Plus, MoffettNathanson’s Michael Nathanson talks the Disney bull case after its worst day in six months. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Wedbush’s Dan Ives is calling Alphabet’s latest push is a defining moment in the AI race. He makes his case. Plus, Capital Wealth Planning’s Kevin Simpson breaks down where he is finding opportunity amid all of the volatility. And, Marci McGregor of Bank of America Merrill Lynch explains why she thinks defense is the best strategy in this market right now.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

While publicly traded space startups have seen prices plummet back to earth since spinning off as SPAC companies, some investors are finding opportunities in the sector. Morgan discusses the investing landscape with ProcureAM CEO Andrew Chanin, whose firm issues the first pure-play space ETF. For more Manifest Space, listen and follow here: https://link.chtbl.com/manifestspace Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Earnings season for New Space is kicking into high gear, some analysts are seeing a tale of two companies. Morgan chats with Ron Epstein, Bank of America analyst, to break down results from Virgin Galactic and Rocket Lab – and why he sees a $1 trillion dollar opportunity in space. For more Manifest Space, listen and follow here: https://link.chtbl.com/manifestspace Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.