Are Energy Prices Signaling a Recession, and Time to Bet on “Old Tech”? 11/18/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.9 • 1.3K Ratings

🗓️ 18 November 2022

⏱️ 24 minutes

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Summary

Energy prices dropped nearly 10% this week and took oil stocks with them. And they weren’t the only commodity lower. So are these markets pricing in the true risk of recession, and what does it mean for the rest of the economy? Plus IBM shares quietly hitting 52-week highs today as legacy tech players continue to outperform the new kids on the block. Should you shift your trades into old tech? 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	Right now in fast, oil slick, crude crumbling down over 10% this week.
0:05.3	A host of other commodities falling, too, does a slide-out fuel to the fears that a recession
0:09.7	is looming.
0:10.7	Plus, power outage of Tesla shares now falling over 20% this month.
0:15.4	The shortmasters here to update his cell call on the EV maker.
0:19.3	Lacing them off at LaFoot Locker, the stock popping after her earnings beat in the better
0:22.9	than expected outlook, and Taylor Swift seeing red over the ticket master debacle for her
0:27.5	new tour.
0:28.5	The impact for bad blood Instagram story had on live nation.
0:31.9	That's coming up.
0:32.9	I'm Melissa Lee.
0:33.9	This is fast money.
0:34.9	We're live at the Nasdaq Market site on the desk tonight.
0:36.5	Karen Farnerman, Steve Grasso, Jeff Mills, and Tim Seymour.
0:40.1	And we are waiting.
0:41.1	We should note, the sentencing of former Theranos CEO Elizabeth Holmes, you're looking
0:44.6	at a live shout out of the courthouse in San Jose, California, where the sentencing
0:48.2	will be delivered imminently.
0:49.8	We'll bring you the headlines as soon as they cross.
0:52.8	But first to the markets here, we start off with crude oil, getting crushed prices on WTI.
0:57.4	Following below the $80 mark for the first time since late September, today, as recession
1:02.3	fears mount, the commodity putting in its worst week since April.
	...

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