Closing Bell Closing Bell Overtime: 5/9/25
May 9, 2025
Deirdre Bosa, a CNBC correspondent specializing in technology and transportation, joins David Lefkowitz, Head of U.S. Equities at UBS, to discuss critical market dynamics. They dive into the effects of Tesla’s stock performance and the competitive landscape between Lyft and Uber. The conversation also addresses U.S.-China trade negotiations and the potential impact of tariffs on global trade. Bosa and Lefkowitz analyze consumer sentiment while exploring recovery insights in U.S. equities amidst economic uncertainties.
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Bear Market Rally Patterns
- About two-thirds of bear markets since WWII have had strong bear rallies reaching near the 200-day moving average.
- These rallies sometimes reverse, leading to lower lows before recovery, indicating caution is warranted.
Current Market Valuation Concerns
- The current market is moderately expensive with high inflation and below-average economic outlook.
- Fed rate cuts seem unlikely soon, contributing to cautious market sentiment.
Tariff Baseline and Trade Uncertainty
- The White House maintains a universal 10% baseline tariff for most countries while China tariffs are debated at higher rates.
- This creates uncertainty about the sustainability and impact of tariffs on global trade and imports.