Digesting Powell’s every word: Stocks Drop, Rates Rip. 10/19/23
CNBC's "Fast Money"
CNBC
3.9 • 1.3K Ratings
🗓️ 19 October 2023
⏱️ 45 minutes
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| 0:00.0 | Live from the Nasdaq Marketside in the heart of New York City's Times Square, this is |
| 0:05.6 | Fast Money. |
| 0:06.6 | Here's what's on tap tonight. |
| 0:07.8 | Powell on pause, the Fed chair saying he's proceeding carefully after the aggressive |
| 0:12.2 | campaign to break the back of inflation. |
| 0:14.2 | So wire stocks, not cheering and wire rates still rising will debate that. |
| 0:18.0 | Plus, painful discovery, discover financial falling nearly 8% as credit-loss provisions |
| 0:23.7 | more than double for Q3 is this a warning sign about the consumer? |
| 0:27.7 | And later electric slide, Tesla dropping over 9% today, a pessimistic Elon Musk calling |
| 0:33.1 | out high production costs, rising interest rates, and the slowing economy on the conference |
| 0:37.4 | call last night, ring the bell, and note a Tesla bull in our own Tesla bear, ready to |
| 0:43.8 | drop the gloves on where the stock is headed next. |
| 0:47.4 | I have no idea he was bearish on Tesla. |
| 0:51.6 | I'm Alyssa Lee, coming to you live from Studio B at the Nasdaq Marketside on the Deaths |
| 0:55.2 | Night. |
| 0:56.2 | See where I saw Dan Nathan, Guadami, and guest trader for tonight, Lori Calvacina of |
| 0:59.8 | RBC Capital Markets. |
| 1:01.9 | We start off with Jerome Powell's pivotal speech here at the New York Economic Club, the |
| 1:06.2 | Fed chair. |
| 1:07.2 | Hinted, he's ready to pause rate hikes for now, saying the committee is proceeding carefully. |
| 1:12.2 | But at the same time, Powell also kept the door open for a move in December and beyond. |
| 1:16.6 | And he added that while recent inflation data has cooled, still too high. |
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