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CNBC's "Fast Money"

A Resilient Rebound in Stocks, and China’s Charm Offensive 3/27/23

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 27 March 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

The S&P and Dow both rising today, led by bank stocks, as First Citizens announced a deal for Silicon Valley Bank’s assets. But have markets gotten too complacent about the rising risks to the market. Plus Chinese officials telling global business leaders that Beijing is open for business. But what will this mean for the companies doing business in the country? Fast Money Disclaimer

Transcript

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0:00.0

Indeed it does and right now on fast, regional revival, banks bouncing back as

0:06.8

first citizens buys a big part of Silicon Valley bank. The Dow and the S&P

0:11.5

rebounding as well but all this comes as the recession chorus grows louder. So

0:17.2

where do we go from here? We'll debate that one. Plus China's charm offence in

0:21.2

Beijing meeting with a host of major US CEOs, Apple's Tim Cookham on them,

0:25.6

trying to make them and the world feel welcome on the mainland. Is this a real

0:31.3

policy pivot or just a PR spin? And later, lift, riding higher, the company

0:37.4

announcing a new CEO just in the last half hour. So we've done an exclusive with

0:41.4

David Risher, the incoming head honcho later this hour. Welcome everybody. I'm

0:46.9

Tyler Matheson in for Melissa Lee and this is Fast Money. Live from the NASDAQ

0:51.9

Market site on the desk tonight. Steve Grasso, Karen Feynman, Dan Nathan, Julie

0:56.7

Beale. Welcome everybody. Good to be with you. Nice to be with you. Julie,

1:00.2

good to see you and we begin with a resilient start to the week for the

1:03.9

markets. The Dow rising for a third consecutive day up about 195 points. The

1:09.3

index now within spitting distance. I don't really love that phrase but it's too late

1:13.5

to worry about that. I said it. I said it. There you go of erasing its losses for

1:18.8

the month. The S&P also higher with energy and financials leading the way.

1:23.2

NASDAQ, the only major index in the red, but it was off the lows of the day and

1:27.4

only off about a half a percent. The strength coming as bank stocks continue to

1:32.1

rebound money centers and regionals both higher after first citizens finalized

1:37.9

a deal to buy the assets of the collapsed lenders, Silicon Valley bank shares of

1:42.3

Bank of America seeing their best day since October. Yet not everyone thinks the

...

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