Closing Bell: Stocks Surge in Final Hour of Trade 6/11/26

**SPEAKER_1** (0:00)
At Edward Jones, we believe rich isn't about having life all figured out. It's opening yourself to all the possibilities. That's why your dedicated financial advisor provides long-term planning built around you, meeting you where you are, and helping you get closer to where you want to be. So no matter where you're starting from, you can move forward with confidence. The key to being rich is knowing what counts.
Let's find your rich. Edward Jones, member SIPC.

**SPEAKER_2** (0:31)
Never bet against American grit or American energy. Through innovation, Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost and a fraction of the time. So while others are busy talking, we're busy building.
That's Venture Global.
That's unstoppable energy.

**Scott Wapner** (1:00)
All right, Brian, thanks so much. Welcome to Closing Bell. I'm Scott Wapner, live from Post 9 here at the New York Stock Exchange. This Make or Break Hour begins with what else? The markets, this late day surge and where things really stand with tech still very much unsettled. We'll ask Blackrock's Rick Rieder. He'll join us in just a moment right here at Post 9 In the meantime, we'll show you the scorecard. Looks like this. We're already having a pretty decent day, but now we are decidedly higher. We took a leg higher mid-afternoon. The president posting that he calls off those strikes against Iran that were scheduled to happen this evening. Market jumped, as you see. It's pretty descriptive on the screen there. Oil falling on that news tells a similar story. Industrials, materials among the better performing sectors today, though everything, frankly, right now, but two sectors, energy, comm services in the green. So, really, the tide over this day has turned a bit. Oracle, standout name, not for great reasons. Stocks down almost 10%.
After earnings, news of a coming equity offering. Stock that's been in the crosshairs around the AI trade for a while. Takes a leg lower this afternoon. Does take us to our talk of the tape, The World According to Rick Rieder. That is Blackrock's CIO of Global Fixed Income, head of the allocation team. A good eye on all points within this market. Welcome, it's good to have you here again.
We spoke a little more than a week ago at our CEO Council Summit down in DC for a fireside.
And even in the midst of some selling and tech and rotating around, you were pretty sanguine about the overall picture.
Anything different since I last saw you?

**Rick Rieder** (2:38)
I mean, I will say one thing. I feel like every day, I can't keep up. I mean, there is, I mean, part of why this is such an exciting environment, you've got, I mean, the news flow is dynamic to say the least. But that, you know, technology is changing, how the world is changing.
It is pretty incredible. Am I sanguine? You know, I call it the way I typify or I like to describe the way we're investing today. It's this concept of dynamic patience, meaning you got to adapt to the news flow. You got to try and manage your risk. You got to think through when things overreact one way or the other.
And then you got to stay into, in my mind, two things. Technology's changed in the world. You got to stay in the position. You got to stay, and I still think equities will do their thing this year. You got to stay in that. And then income is phenomenal. And so, I've learned, it maybe took me four decades to figure this out, but compounding income works. And as long as you get that, so pretty good environment. What is trickier is when everything correlates, when rates, equities, gold all correlate together, you can't really, you got to manage your risk differently because you don't have that traditional hedging dynamic. So you can lean in a bit, but you got to be a bit careful about left tail because you don't have a lot of hedging.

**Scott Wapner** (3:48)
What is the market going through right now, do you think, as it relates to a lot of these tech stocks that ran up a ton, now are correcting a bit, whether you feel it's over or not. I mean, just from your lens, what do you think it's going through here?

**Rick Rieder** (4:02)
I mean, Scott, one thing I say, we're doing this a long time. I've never seen markets being driven by momentum, people getting on one side of the boat, chasing the theme of the day, and then everybody going, and then people getting a bit overexposed. So we talked about, I think you asked the question, are we in a bubble? There's no way we're in a bubble. I mean, the earnings are still really good. It has some characteristics of a bubble because you get this over demand, and then everybody's got to get out at the same time. Listen, I think this week, and in fact, I would argue last week, you've got a couple of very big issuances, equity, but also you're getting debt finance convert. Obviously, it was a very big convert.