Closing Bell Overtime: S&P 500, Nasdaq Hit Records Before Falling; Mr. IPO On Reddit; Is AMD Nvidia-Mini? 3/8/24

CNBC's "Fast Money"

CNBC

News, Business, Investing

3.9 • 1.3K Ratings

🗓️ 8 March 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

It was a losing week for the major averages after a late-day slide in afternoon trading today. Envestnet Co-CIO Dana D’Aurio and Wells Fargo’s Tracie McMillion break down the market action and what’s ahead. Melius’ Ben Reitzes calls AMD “Nvidia-Mini.” He lays out the bull case. Samsara CEO Sanjit Biswas talks the company latest quarter and how its AI strategy. Professor Jay Ritter, Mr. IPO, on if Reddit might signal a reopening of the IPO window. Plus, JPMorgan Chase Head of Global Research Joyce Chang on her global outlook.

Transcript

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0:00.0	Other major averages snapping a two-day win street closing in the red for the
0:05.9	week that's the scorecard on Wall Street but winter stay late welcome closing
0:09.2	bell overtime I'm John Ford with Morgan Brennan the tech sector, the major underperformer today
0:13.7	while real estate was the big winner,
0:16.2	chips, the big reason behind tech sell-off, and video.
0:19.9	Marvell and Broadcom all getting crushed today,
0:22.1	but coming up a top analyst tells us
0:24.0	the name of another chipmaker that he says
0:27.6	looks like the quote,
0:29.0	Invidia mini because of its big upside potential.
0:32.0	Yeah, anybody to take that.
0:33.0	Well, one tech stock also bucking the trend today.
0:36.0	Samsara, you can see they are closed up almost 14%.
0:40.0	The company CEO is going to join us exclusively
0:42.0	to discuss his big revenue beat and
0:44.0	strong outlook but for now let's get to the market action today with our panel
0:48.2	joining us now is Dana Diario of InvestNet and Tracy McMillian of Wells Fargo.
0:54.3	Happy Friday to both of you Dana.
0:57.1	So we got another round of inflation data coming next week after what was a pretty tame jobs report I guess small
1:05.3	caps have been pretty sensitive to the higher for longer narrative do you see
1:10.3	anything changing? Well I think it really is going to turn on whether we
1:15.5	see this rate cut obviously coming in June. So small caps as we all know are more
	...

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