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CNBC's "Fast Money"

Big Banks Get A Bump… Plus Housing Sector Head Scratcher 7/9/24

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 9 July 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Banks heading higher ahead of the group kicking off earnings season this Friday. The move in rates, and what Fed Chair Powell had to say on the hill. Plus No glut in the housing space. How inventory and prices are at a disconnect, and the impact on the housing in the 2nd half. Fast Money Disclaimer

Transcript

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0:00.0

Large in the Nazak markets I'd in the heart of New York City's Times Square, this is fast money.

0:06.0

Here's what's on tap tonight. A big bank breakout shares the money center soaring as yields move higher.

0:11.0

Can the strength continue when earning season start rolling

0:14.0

on this week will break down the outlook for the sector plus Tesla trekking higher the

0:18.0

EV maker extending its winning streak to 10 days it is up nearly 90% since its lows of late April.

0:24.4

Can the stock keep up this rally? We'll debate that and later not loving it.

0:29.2

Chairs of Mickey D's at their lowest level in close to two years.

0:33.2

One of our traders says there's still more room

0:35.1

to fall before they hit the buy button.

0:37.4

I'm Melissa Lee coming to you live in studio

0:39.0

be at the Nasak on the desk tonight.

0:40.8

Tim Seymour, Karen Feinerman, Dan Nathan, and Steve Grasso.

0:44.0

We start off with the rally in bank stocks today, Citigroup jumping almost 3%, hitting its highest level in almost 2.5 years,

0:50.0

Bank of America at its best since March 2022, while Goldman Sachs sending a record high, the moves

0:55.8

coming on the back of higher Treasury yields, and ahead of the kickoff of Q2 earnings season.

1:01.1

J.P. Morgan City and Wells Fargo reporting Friday morning.

1:04.2

So what do you make to this positive price action ahead of the results?

1:09.2

Not the best setup, Karen.

1:11.2

I know you don't love this kind of run up into earnings.

1:14.0

I don't, because the bar just gets higher and higher and then it's obviously harder to jump

1:18.5

over the bar.

1:19.5

If we look particularly at City, which has had the strongest run, I mean it's already done one multiple

...

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