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CNBC's "Fast Money"

Beware the Powell Pop?

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.31.2K Ratings

🗓️ 14 July 2021

⏱️ 44 minutes

🧾️ Download transcript

Summary

Markets eked out gains Wednesday, erasing earlier losses after Fed chair Jerome Powell said the central bank would keep its easy monetary policies going. Former PIMCO chief economist Paul McCulley joins with his thoughts. Plus, why the sell-off in high-multiple tech stocks has some of our traders worried.

Transcript

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0:00.0

Tonight, unfast, we go right to the core of the market, Apple breaking out.

0:08.5

Investors giving the company a big shout out, as Apple looks to bust out, building more

0:13.0

iPhones, will lay out how to trade it.

0:16.3

Plus, big oil, springing a leak, the once hot sector cooling off.

0:21.2

But if you still love the group, have no fear, we've spotted something in the options market

0:26.2

that could point to a big breakout, one of those.

0:29.9

Big names.

0:30.9

And then, pot, not hot.

0:34.0

Canada shares down even as Congress talks up legalizing it.

0:37.4

Team Seymour is here to break down all the action in cannabis sector.

0:42.0

Well, welcome everybody.

0:43.4

I am Brian Sullivan in for Melissa tonight.

0:46.3

Thanks for joining us anyway.

0:47.8

Tonight's Trader lineup, Tim Seymour, Karen Feynman, Dan Nathan, and Guy Adami.

0:53.5

Well there's so much to do, so let's start doing it and get right to it.

0:57.2

Hit the macro markets and your money.

0:59.0

Another good day is the Dow, the S&B, and Nasdaq all rose.

1:02.6

Not big, but when you're on records and you go up a little bit, it's a new record.

1:07.1

It was a story of continued momentum and maybe a little mini J-Powell pop, if you will,

1:13.0

because the Fed chair testifying on Capitol Hill, he mostly, of course, got questions

1:16.9

that lined up by political party, but on the side that you care about, Powell trying

1:21.7

to keep everybody calm on inflation, but in reality, is everything is under the surface

...

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