Dow Misses its Date With Destiny and Intel Soars After Earnings 7/27/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 27 July 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Dow spent most of the day on pace to tie its longest win streak, dating back to 1897! But rumblings out of the Bank of Japan sent the yen higher against the dollar and the U.S. indexes reeling. What’s behind the move, and what’s it mean for your money? Plus shares of semi stock Intel jumping after its latest earnings report. We bring you the headlines from the conference call and the trade on the stock. Fast Money Disclaimer

Transcript

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0:00.0	Right now in fast so much for the Dow's date with Destiny, the winning streak ends at 13
0:06.3	and gone is all the top of the late 1800s.
0:08.9	The shark rise in the bond yields triggering a midday turnaround to look at what spooked
0:12.6	the credit markets and the road ahead for stocks from here.
0:15.0	Plus, smooth sailing for one part of the travel industry, well, a number of the airline
0:18.4	stocks are getting turbulence.
0:20.1	The cruise lines seem to have the wind at their back.
0:22.8	We will break down the high times and the high c is coming up and later charting the
0:26.6	bank sector's next move met as mega options action and the Taylor Swift's impact on
0:31.7	the bottom line at Live Nation.
0:33.9	It's hardly been a cruel summer for the owner of Ticketmaster.
0:37.2	I'm Melissa Lee.
0:38.2	This is fast money relapsing as I can market sight on the desk tonight.
0:40.8	Karen Feinerman, Dan Nathan, Tim Seaworn, joining us for the hour, Rebecca Patterson, former
0:45.4	Bridgewater Chiefs strategist, welcome Rebecca.
0:48.5	And we start off with that crashing halt to what would have been a historic rally after
0:52.6	spending much of the day on track to market the longest winning streak.
0:55.7	Since the late 1800s, the Dow turned a sharp corner midday, closed down more than 200 points.
1:00.7	The S&P and ASAC following suit, all three major indices closing just off the lows of
1:04.6	the day.
1:05.6	The catalyst for the market turnaround seemed to be a spike in bond yields.
1:09.0	The 10-year jumping 15 basis points for its biggest increase since last September.
	...

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