Closing Bell Overtime: Wall Street Whiplash: Averages Post Wild Intraday Swings As Investors Digest Tariffs 4/7/25

Closing Bell

CNBC

Business, News

4.8 • 118 Ratings

🗓️ 7 April 2025

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Nasdaq swung nearly 10% today while the Dow’s range was over 2500 points. Dan Niles weighed in on the tech downturn and whether the pain is over. Relate Advisory’s Dana Telsey broke down earnings from Levi’s and the broader retail landscape. MP Materials CEO James Litinsky discussed China’s export controls and their impact on critical minerals. Plus, insights from 3Fourteen’s Warren Pies and Interactive Brokers’ Steve Sosnick on the broader market picture.

Transcript

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0:00.0	That's the end of regulation. Faith, investor services, and bright portfolios ringing the closing belt.
0:04.5	The New York Stock Exchange Community West Bank shares doing the honors at the NASDAQ.
0:10.3	Stocks closing mostly lower as a wild session comes to a close. Looks like we got gains on the NASDAQ here.
0:16.7	But the S&P 500 touching bare market levels early in the session.
0:20.5	The Dow's swinging more than
0:21.7	2,500 points in trading today, and the NASDAQ trading in a nearly 10% range.
0:28.5	It was, to say the least, volatile.
0:31.7	Scorecard on Wall Street, but the action is just getting started.
0:34.7	Welcome to closing bell overtime.
0:36.1	I'm Morgan Brennan.
0:37.2	John Ford is off today.
0:38.5	We will be all over this volatility throughout the hour, including with noted investor Dan Niles,
0:43.7	who says a recession is not his base case scenario. But let's get right to this whiplash market action.
0:50.0	Joining me now is Warren Pyes, 314 Research co-founder and Steve Sosnik, Interactive Brokers Chief Strategist, along with CNBC's Leslie Picker with some fresh comments from one of Wall Street's most important voices.
1:02.2	But gentlemen, I will start this conversation with you because as I just mentioned, and Warren, I'll start with you.
1:08.2	We did have a NASDAQ composite and a NASDAQ 100 that finished
1:11.2	fractionally higher and an S&P that finished fractionally lower. It looks like 50, 62 maybe,
1:17.3	is where we're settling out on the S&P. Warren, we came into this session, arguably very
1:23.1	oversold here. We saw a massive flush out, a lot of margin calls coming into today. Is this a dead cat
1:30.1	bounce or is this a market testing its bottom? Yeah, thank you for having me. I look, I think
1:36.3	there are two important price levels to define for viewers. So if you study history and you go back
1:42.6	and you look at where should we expect this market
	...

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