A Big Bank Breakout and Cathie Wood’s Latest Bet

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 25 August 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

U.S. financials surged on Wednesday, with American Express posting its best day in over a month. We break down what’s behind the moves and where the sector is going next. Plus DraftKings surging on news it’s the latest darling of Cathie Wood’s Ark Innovation Fund, but some of the star investor’s other picks have been struggling more than a bit recently.

Transcript

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0:00.0	Life in the Nasdaq Market site overlooking New York City's Times Square, this is Fast
0:05.4	Money.
0:06.4	I'm Melissa Leif.
0:07.4	Tonight, Trader Light of Guaidami, Tim Seymour, Jeff Mills, Dan Nathan will join us in
0:10.8	just moments.
0:11.8	Tonight on Fast, we are tracking the after-exaction chairs of Salesforce.
0:15.3	That's talk on the move right now on earnings.
0:17.4	The company's call is just kicking off or breaking down the quarter straight ahead.
0:21.0	Plus, we're watching the White House President Biden wrapping up a meeting right now with
0:24.8	the nation's top CEOs about cybersecurity will bring you any big headlines that come
0:29.0	our way.
0:30.0	And later, Tim is taking the amount to throw out his best idea while he thinks this
0:33.6	tech stock is a total home run investment.
0:36.8	But we start off tonight with a big breakout for the banks, financials leading the S&P 500
0:42.2	on a record day for the index, JPMorgan, Wells Fargo, Bank of America, Goldman Sachs and
0:46.5	Morgan Stanley, all posting gains in this move comes as a benchmark 10-year treasury
0:50.9	yield continues to climb higher.
0:53.2	It is now at 1.34%.
0:56.5	Let's trade this guy.
0:57.5	What did you make of this big move?
1:00.3	Well, we had a few people on over the last couple weeks.
1:02.6	I know Tim has been loving his Jeff Mills when I hear from him as well.
	...

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