Closing Bell: Stocks Slump, Massive Chip Investment & Diamond In The Rough 12/6/22
Stocks sinking for a second straight day as investors continue to worry about a possible recession. President Biden visiting Taiwan Semiconductor's chip plant in Arizona after the company announced it is increasing its investment in the state's chip industry to $40B. Apple CEO Tim Cook announcing that his company will use chips made at that factory. Council of Economic Advisers Member Jared Bernstein discusses how many jobs this investment will create and how long it will take to help ease semiconductor supply chain issues. Goldman Sach's Luke Barrs reveals the two sectors he sees long-term buying opportunities in right now. Bank of America's Jill Carey Hall on why she is still so bullish on small cap stocks despite their continued underperformance versus the broader market. And Signet CEO Gina Drosos discusses the jewelry retailer's strong earnings and guidance and whether she sees any signs that consumer spending is slowing amid recession fears.
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