Closing Bell

In a special edition of Closing Bell from Washington, Sara Eisen speaks with Fed Chair Jerome Powell and other leaders at the IMF’s Debate on the Global Economy. Mohamed El-Erian from Allianz breaks down the latest policy signals from the central bank leader, and the potential impact on the market. Meantime, the Netflix nightmare continues, with shares taking another leg lower after hedge fund manager Bill Ackman sold off his stake. Former Disney executive and TikTok CEO Kevin Mayer – who correctly predicted that Netflix would explore advertisements – joins to discuss the future of the streaming giant. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tesla shares rally in after-hours trade following a big earnings beat. Dan Ives from Wedbush Securities calls them “almost Cinderella-type numbers.” But, Eric Johnston from Cantor Fitzgerald says mega cap tech names will underperform the market going forward. Plus, is TikTok to blame for waning interest in Netflix? Michael Santoli takes a closer look in his “Last Word.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks finished the day mixed – with the Dow gaining and the Nasdaq sinking. Netflix weighed sharply on the tech-heavy index after reporting a decline in subscribers. Analyst Will Power discusses what’s really to blame for the miss, and what comes next for the streaming company. Meantime IBM and P&G helped boost the Dow on the back of strong results. The CEO of IBM joins to talk about the strength in the cloud and tech spending. And the head of P&G weighs in on what he’s seeing from consumers and the impact of inflation. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Netflix plunges in after-hours trading after reporting a loss of 200,000 subscribers in the first quarter. But, value investor Bill Nygren from Oakmark Funds is still betting on the stock. Plus, JPMorgan’s Chief Global Markets Strategist Marko Kolanovic says “a near-term rally is likely,” and recommends both growth and value names. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Wall Street finished the day sharply higher ahead of key tech earnings from Netflix and IBM. Alli McCartney from UBS and Barton Crockett from Rosenblatt debate whether or not tech earnings will help the Nasdaq catch up, after lagging all year long. The CEO of Citizens Financial Group breaks down earnings as that stock finishes near the top of the S&P 500. And Atlanta Fed President Raphael Bostic lays out his latest thinking on inflation, the economy, and the Fed’s rate hike path. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Twitter vs the world? Alex Kantrowitz from Big Technology and Casey Newton from Platformer discuss the latest in Elon Musk’s battle for the social media giant. Plus, is Fundstrat’s Tom Lee getting less bullish? He breaks down his latest market call. And, has the market priced in the Fed’s tightening cycle? Steve Liesman speaks with St Louis Fed President James Bullard. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks ended the day lower after a seesaw session. Jason Trennert from Strategas and Jim Bianco from Bianco Research debate the impact of rising rates on the market, as yields on the 10-Year treasury note hit their highest level since 2018. The CEO of KBW gives his take on bank stocks, following a divergent performance for Bank of America and Charles Schwab on the back of results. World Bank President David Malpass explains why his organization just slashed its global growth forecast by nearly a full percentage point. And Goldman Sachs chief economist Jan Hatzius breaks down a new call on the housing market, with mortgage rates topping 5%. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The talk of the tape is Elon Musk’s maneuver to takeover Twitter. Will he be successful? Alex Kantrowitz from Big Technology and Casey Newton from Platformer discuss. Plus, stocks closed at session lows and major averages notched another week of losses. Cameron Dawson from Fieldpoint Private explains why it’s time to focus on high quality and defensive-leaning names. And, Michael Santoli looks at M&A activity in his “Last Word.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks selling off into the close ahead of a 3-day holiday weekend with tech leading the decline. Twitter shares closing in the red despite initially popping following Elon Musk’s $54 per share takeover offer for the social media company. Box CEO Aaron Levie explains why he thinks that bid may be too cheap. Evercore ISI’s Mark Mahaney weighs in on where the stock will go from here. Wells Fargo one of the worst performing stocks in the S&P 500 because weaker than expected mortgage lending took a toll on quarterly revenue. CFO Mike Santomassimo discusses whether the bank’s mortgage business will continue to be hurt by rising interest rates and why he sees the consumer doing well despite inflation fears. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks closed near session highs. Chris Hyzy from Merrill and Bank of America Private Bank says there are bargains in the equity market. Plus, Tom Lee from Fundstrat Global Advisors explains why stay-at-home stocks is the “toughest group” to own right now. And, Michael Santoli looks “Beyond the Banks” for his Last Word. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.