Banks Sit Out the Market’s Rally, and Amazon Ups Its AI Game 6/22/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 22 June 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

While broader indexes have been in rally mode, one big sector has been sitting on the sidelines, and even lagged today. But is this a time to buy the banks, or is there more pain to come? Plus Amazon bringing generative AI to its flagship AWS business. What it could mean for the battle of the bots and its position against Google and Microsoft. Fast Money Disclaimer

Transcript

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0:00.0	Right now on fast, financial fade, all the major
0:04.2	averages have been rocking the banks.
0:05.9	Both big and small haven't come along for the ride.
0:08.0	Is the sector still being stung by the SVB hangover?
0:11.4	Or is it something else?
0:12.7	Well, debate plus AWS going all in on AI.
0:16.0	Shares of Amazon surging as the cloud
0:17.6	and e-commerce giant says they will invest big money
0:20.4	in generative AI as it raises to keep up
0:22.6	with the competition.
0:23.8	We'll hear from the man leading the separate
0:26.1	that's coming up and later proves
0:27.7	the latest reversal of fortune.
0:29.2	The options action on that.
0:31.2	A major buzzkill for one of Bowen's big time suppliers
0:34.5	and cold pizza.
0:35.5	Why the slice sector is struggling?
0:37.7	Well, so many restaurant stocks are red hot.
0:39.8	I'm Courtney Reagan in this evening.
0:41.3	For Melissa Lee, this is fast money life
0:43.4	from the Nasdaq market site.
0:44.9	On the desk tonight, we have Karen Feierman,
	...

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