Banks Rebound, But Do You Believe the Bounce? Plus, the Most Surprising Thing in the Market 9/9/22

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 9 September 2022

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks snapped a three-week losing streak, but bank have fared even better since last Friday. But will the rally only be short-lived, or is there real strength behind it. Plus, yesterday we learned that the total return on the S&P over the last 25 years is exactly the same as that on Utilities. And that’s not the only surprising thing happening in the market. We lay out what the traders are watching. 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 on fast and major average is snapping a three week losing streak.
0:05.0	Discussionary stocks, materials and financials leading to charge higher is this a bounce
0:09.1	investors can get behind.
0:10.9	Plus one of our traders thinks now could be the time to think about betting on Germany.
0:15.3	That's surprising take and the reason why straight ahead and later our chart of the week
0:19.2	hard to believe this name has jumped over 11% even as mortgage rates surge to their highest
0:24.4	level this week since the great financial crisis.
0:27.4	The big reveal is minutes away.
0:29.2	I'm Melissa Lee.
0:30.2	This is fast money.
0:31.2	We're live in the Nasdaq Market site and Times Square on the desk tonight.
0:33.4	Karen Feinerman, Jeff Mills, Steve Grasso, and Bono and Ison.
0:37.1	And we start off with a big bank breakout tonight.
0:39.3	The financial name is closing out a strong week with another gain today in this holiday
0:44.2	short and week too.
0:45.3	Take a look at the moves in some of these financials.
0:48.9	JP Morgan leading the pack up nearly five percent since last Friday.
0:52.1	Wells Fargo Bank of America City Group with a four plus percent gain.
0:56.1	The move coming as interest rates continue to ratchet higher yields on the two year
0:59.4	today hitting their highest level since November 2007.
1:03.5	But is the rally in financials too good to be true?
1:06.8	Karen, I know you're not going to say no it's not too good to be true.
	...

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