Big Short Investor Bearish on Banks, and What LVMH Says About the Consumer 10/10/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 10 October 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Banks were some of the best performers on the S&P today, but Steve Eisman of “Big Short” fame, says there’s still trouble in the financial space. What he’s looking at and how it should impact your investing. Plus U.S.-traded shares of LVMH sank after the luxury retailer posted earnings after the European close. What the results mean for the high-end consumer. Fast Money Disclaimer

Transcript

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0:00.0	Live from the Nasdaq Markets, I did the heart of New York City's Times Square.
0:04.8	This is Fast Money.
0:05.8	Here's what's on tap tonight.
0:07.6	Stop Drop and Rally.
0:08.6	It's bond yields.
0:09.6	Fall stocks had higher from builders to banks, from industrials to big parts of tech,
0:13.8	a dovish bed and a treasury tumble, a powerful combo for the markets.
0:18.0	Can investors trust this formula for a real rebound?
0:21.1	Plus, so to pop Pepsi climbing on the back of strong earnings, a hike to its full-year
0:25.5	forecast and continued pricing power, will their move deliver the jolt that helps
0:29.9	the struggling staples recover.
0:32.0	And later, what's behind the two-day bounce at Bank of America, while Rivian shares
0:35.4	were all revved up today and inside the results for LVMH, has a luxury spending slowdown
0:40.4	arrived.
0:41.4	I'm Melissa Lee, coming to you live from Studio B at the Nasdaq on the desk tonight.
0:44.8	See Brasso, Karen Feinerman, Dan Nathan, and Guy Adami.
0:48.0	We start off at a sizable market move since Friday's lows.
0:51.0	The S&P which fell below 42-20 after the latest job support rallied another half a percent
0:56.0	today is now at more than 3 percent from the Friday bottom.
0:59.3	The Dow is nearly 900 points higher and take a look at treasuries.
1:02.8	The bond market was closed yesterday, but yields on the 10-year dropped 16 basis points
1:07.0	today.
	...

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