Closing Bell: Dramatic Reversal, Oil Slides & Emerging Opportunity 7/5/22
Stocks staging a late day comeback after the Dow fell 742 points earlier in the session on recession fears. Tech stocks leading the rebound amid a drop in bond yields. Leuthold's Jim Paulsen discusses why he is turning bullish on tech and growth stocks, but Richard Bernstein Advisors' Richard Bernstein says investors should be defensive right now because rising interest rates and decelerating profits are historically a bad combination for stocks. Ariel Head of Investment Group Charlie Bobrinskoy reveals why he thinks the banks are attractive despite falling treasury yields. Oil plunging below $100 a barrel on economic concerns. RBC Capital Markets Head of Global Commodity Strategy Helima Croft says the fundamental backdrop behind oil remains bullish. Rockefeller International Chairman Ruchir Sharma explains why he is so bullish on emerging markets in the second half of the year.
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