A Sign Of Market Euphoria?... And Opportunity In Metals 6/3/26

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 3 June 2026

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

All things AI continuing to climb, as investors await a blockbuster SpaceX IPO, and semi and chip stocks cruise to fresh records. But is all the exuberance a sign of too much euphoria in the market? CME Group’s Terry Duffy helps break it all down, and why he sees some danger for retail investors as perpetual futures come into focus. Plus, Crowdstrike reports results, credit card stocks swipe lower, and finding opportunity in metals. Fast Money Disclaimer

Transcript

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0:00.0	Live from the NASDAQ market site in the heart of New York City's Times Square, this is fast money.
0:05.5	Here's what's on tap tonight. An IPO that's breaking all the rules, the latest details on SpaceX's
0:10.3	monster offering and what it says about the buildup of euphoria in the market right now.
0:14.8	We'll talk to CME CEO Terry Duffy about that, perpetual futures contracts and a whole lot more.
0:21.9	And a broadcom bummer,
0:26.2	the chipmaker dropping from all-time highs after its latest earnings report. We are digging into the numbers, bringing you all the trades. Plus, what is wrong with the credit card stocks?
0:31.2	Meta moves higher in its latest AI agent news and constructing gains. United Rentals,
0:36.7	just one of the industrial gains hitting records
0:38.8	today. What's behind this move? How do you trade these stocks right now? I'm Melissa Lee.
0:43.1	I'm from studio B. At the NASDAQ. Tim Seymour, Karen Feiderman, Dan Nathan and Guy Dami.
0:48.7	We start off with new details on what is expected to be a blockbuster IPO, SpaceX just filing, its amended IPO perspective
0:55.9	minutes ago. And as you might expect from Elon Musk, it's breaking all the rules. The company
1:01.1	is setting a fixed initial offering price of $135 a share. That puts SpaceX's valuation in nearly
1:07.0	$1.8 trillion would make it the seventh most valuable company in the United States.
1:12.6	Leslie Pickers got the detail. She's been pouring through this document. Leslie.
1:15.7	Hey, Mel, that's right. So given those numbers you just outlined, we're looking at a float of about 4% for this deal.
1:23.0	Why is that important? Well, it affects the supply demand dynamic relative to the market cap. So the
1:28.1	tini or the float, oftentimes you can maybe orchestrate more of a pop, potentially depending
1:33.4	on the demand dynamic. Now, that is often orchestrated when you do have a price range,
1:38.7	where you're able to say, okay, we feel like we have a lot of demand at this certain price.
1:43.7	We're going to price it here.
1:45.4	And then, you know, hopefully we'll be able to see some sort of pop on day one.
	...

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