Closing Bell: Stocks Soar, Apple's Big Announcement & Kellogg's CEO on Consumer Spending 9/7/22
Stocks rallying and the Nasdaq snapping a 7-day losing streak thanks to lower interest rates and oil prices. All eyes were on Apple today, which announced several new products including the iPhone 14 and new Apple Watches. Wedbush's Dan Ives says the price increase on Apple's new iPhone 14 will be a catalyst for the stock to rally. Kellogg CEO Steve Cahillane says he sees resilience in the state of the consumer and does not see people trading down to lower priced products, but does see some costs such as higher wages sticking around. Macquarie's Tim Nollen upgrading shares of Netflix and explains why he is bullish on the streaming giant's upcoming ad tier. And Lightspeed Partner Michael Mignano discusses the outlook for private company valuations and the IPO market.
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