Countdown to Powell Testimony and the Stocks That Are “So Bad They’re Good” 3/6/23

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 6 March 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks fading fast into the close ahead of tomorrow’s testimony by the Fed Chair before the House Financial Services Committee. So should investors expect Powell to give markets a boost when he takes the stand? Plus the Chart Master has his eyes on a couple names that are seeing bearish-to-bullish reversals. He dives to bring us the details. Fast Money Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Right now, in fast bracing for Powell, stocks mostly stuck in neutral as the market awaits
0:06.8	the Fed shares two days of testimony on Capitol Hill, will Jerome Powell stick to the recent
0:11.2	script of hire for longer, plus TikTok on the clock, a bipartisan pair of senators set
0:16.5	to introduce legislation tomorrow that will let the government banner prohibit foreign
0:21.2	technology and products like TikTok, the ripple effect on the tech sector and relations
0:25.5	with Beijing.
0:26.5	In addition, big oil's bet on where prices are heading right now, apples, new fan on
0:30.5	Wall Street and the chart masters list of bean down names he thinks are ready for a reversal
0:35.4	of fortune.
0:36.4	I'm Melissa Lee.
0:37.4	This is Fast Money.
0:38.4	We're live with the Nasdaq Market site on the desk tonight.
0:40.4	Tim Seymour, Karen Feynman, Bono and Ison and Steve Grasso.
0:43.4	We start off with a countdown to Powell on the hill.
0:46.2	The Fed chairman set to face the House Financial Services Committee tomorrow.
0:50.4	Investors keyed into any indication for how much higher the central bank will take
0:54.1	interest rates.
0:55.1	Stocks seeing a late day fade ahead of his statement that now giving up again of over
0:58.7	180 points to end the day, basically flat, the Nasdaq up over a percent of its highs,
1:03.4	ending just in the red, rates mean time ticking back higher, the tenure climbing back towards
1:08.4	4%.
1:09.4	So, can Powell say anything tomorrow that will put the steam back into the markets?
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.