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CNBC's "Fast Money"

A November to Remember, and What Nvidia’s Pullback Means for Markets 11/22/23

CNBC's "Fast Money"

CNBC

Business, News, Investing

3.91.3K Ratings

🗓️ 22 November 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Stocks rallied ahead of the Thanksgiving holiday, putting major indexes on pace for their best month of the year. But can the momentum continue into year end? Plus Nvidia notably sitting out today’s rally. What the drop in the semi darling means for the space Fast Money Disclaimer

Transcript

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0:00.0

Live from the Nasak Market site in the heart of New York City's Times Square.

0:04.6

This is fast money. Here's what's on tap tonight. Stocks gaining even more ground

0:08.7

heading into Thanksgiving, the Nasak 100, hitting its highest level of the year

0:12.3

during the session.

0:13.4

The Dow and S&P close to doing the same, but will November's gains yield to pain in December

0:17.8

or is it all clear ahead for the markets?

0:20.3

Plus on the sidelines, NVIDIA sitting out today's broad rally despite a strong

0:24.2

earnings report and strength in the rest of the semi-space what it means that this

0:27.7

stock isn't coming along for the ride. And later crude crumbles Chipotle shares spice up and deer digs itself into a

0:34.9

whole the headlines behind those moves and a lot more I'm Melissa Lee coming to you

0:38.7

live from Studio B at the Nasak on the desk tonight Tim Seymour Gai Dami Domi, Steve Grosso, and Stuart Kaiser,

0:44.3

head of Equity Trading Strategy at City. And we start off with what is turning into

0:48.6

a November to remember major markets all on pace to log their best month of the year.

0:53.2

With the Nasak up more than 11% so far, the biggest winners to date,

0:56.9

tech, communication services, and consumer discretionary stocks all up double digits in

1:01.8

November. The moves coming amid a sharp decline in

1:04.3

rates. The yield on the 10 year dropping from 4.8% at the start of the month to 4.4%

1:10.3

now. The benchmark seeing its biggest monthly basis point drop since 2019.

1:15.0

So do these trends continue through year end or are tied set to turn after the holiday?

1:21.0

The holiday meaning gobble meaning gobble day,

1:24.4

Turkey Day tomorrow, Tim.

1:26.6

Well, trend for yields also,

...

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