A Real Read on the Consumer, Plus Lyft’s Surprising Results

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 3 August 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Household debt rose by the biggest dollar amount since 2007 in the second quarter. So what does this say about consumer’s appetite for spending? Plus Lyft posts a surprise EBITDA profit in the latest quarter, sending shares higher after the bell.

Transcript

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0:00.0	Live from the Nasdaq Marcos at Overlooking New York City's Times Square, this is Fast
0:05.4	Money I'm Melissa Lee.
0:06.4	Tonight's Red Align of Tim Seymour, Dan Nathan, Steve Grasso, and Pete Najarian, co-founder
0:10.6	of MarketerBellion.com.
0:11.6	Tonight on Fast for your Tracking, the Aftar Resaction shares a lift in Caesars.
0:15.6	Both stocks on the move right now in earnings, their conference calls are underwagled, break
0:19.6	down any of the big headlines.
0:21.0	Plus, shares of Robin Hood topping the tape, the stocks soaring 24% today to close above
0:26.5	its IPO price for the first time.
0:28.8	They're holding it to what's sent to these shares soaring.
0:31.1	And later, Pete is taking them out to pitch his next best idea while he thinks this home
0:35.4	good stock is a total home run.
0:37.7	We start off with two monster moves in retail.
0:40.5	Check out shares of Ralph Lauren and Under Armour, both soaring after blowing past earnings
0:44.1	estimates for the latest quarter.
0:45.7	The company is both also raising revenue guidance for the year.
0:49.2	The bullish outlook comes as America seems to be on a shopping spree, a new report from
0:52.9	the New York Fed showing consumers are taking on debt at the fastest pace in more than
0:56.8	a decade.
0:57.8	Household debt surging by $313 billion in Q2.
1:02.6	All this, as we count down to earnings reports from the big retailers, Walmart, Target,
1:07.2	and more, all coming up in the next few weeks.
	...

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