Closing Bell: Stocks Rally, Semis Surge & Recession Fears Fading? 1/23/23
Tech stocks leading the market higher as Wall Street gears up for another big week of corporate earnings. Semiconductor stocks among the big winners after a bullish call by Barclays. Wedbush’s Matt Bryson tells us whether he thinks the chips look cheap. Salesforce shares surging after two big investors took stakes in the software giant. Cowen’s Derrick Wood downgraded the stock on Friday and discusses whether he is reconsidering that bearish call. Former Council of Economic Advisers Chair Jason Furman reacts to a new survey showing recession fears are fading, but cautions strong consumer spending trends look unsustainable. And Compass CEO Robert Reffkin explains why he thinks the housing market may have hit a bottom at the end of 2022 despite the Federal Reserve’s plan to keep raising interest rates.
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