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CNBC's "Fast Money"

A Mixed Bag for Big Banks, and When Perfection Doesn’t Last

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 14 January 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

JPMorgan shares dropping after its earnings report Friday, after the company warned about rising costs and wages. But Wells Fargo got a surprising pop after its results. What these earnings say about the strength of the sector, and how you should trade it. Plus, the S&P has been climbing at a perfect 25 degree angle for 18 months – but the Chart Master says you can never expect perfection to last. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

I'm going to tweet one in two, tonight on Fast, the perfect angle, white chart master

0:04.9

Carter Worth is inclined to believe the S&P's stellar run is soon to end.

0:10.9

Plus Netflix and Bills, the streaming giant upping subscription fees and investors upping

0:16.0

the shares.

0:17.4

What the new prices may mean for the company and the stock and later on options action,

0:21.8

jumping the arc, the arc innovation ETF, that is how you can protect yourself as dollars

0:27.4

flow out of Kathy Woods' flagship fund.

0:30.9

This is Fast Money.

0:31.9

I'm Tyler Matheson in tonight for Melissa Lee.

0:34.7

Tonight's Trader lineup, the Westchester Woodsman, Steve Grasso, Jeff Mills, Nadine Termin

0:40.4

and Peyton Egerian, co-founder of MarketRebellion.com.

0:44.8

All right, welcome everybody, it's good to be with you once again on a Friday evening.

0:48.5

We start with a bank-led sell-off on Wall Street, the Dow dropping 200 points to close out

0:54.0

the week with JP Morgan Goldman Sachs, American Express, together shaving about a hundred

0:59.5

and seventy points off the index.

1:02.1

That's most of a 201 point decline.

1:04.7

The weakness in the sector coming after earnings from JPM and City both dropping after warning

1:10.7

of rising expenses, particularly in wages.

1:14.1

Well as Fargo, maybe a surprising bright spot, that stock jumping after its earnings beat.

1:19.6

So was this a case of Trader selling on the news or is there something more going on

1:25.3

here?

1:26.3

Steve, let's start with you and not lose sight of the fact that this is obviously one

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