Dow’s 700-Point Swing and the Biggest Winner of the Summer 9/2/22

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 2 September 2022

⏱️ 22 minutes

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Summary

The markets staged a major reversal after the Nordstream pipeline shut down again, with the Dow going from a 370 point rise to a 330 point drop and the Nasdaq falling 1.3%. So how should you position yourself for the other side of the holiday weekend? Plus one stock managed to pull off a nearly 50% gain over the summer. We’ll tell you what it is, and how to trade it. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	And right now on fast, the bears take hold the S&P dropping more than a percent.
0:05.6	The Dow erasing a 370 point gain to end the day more than 300 points in the red.
0:12.5	The Nasdaq notching a 6th straight day of losses its longest losing streak since 2019.
0:18.3	So as we mark the end of summer, will it be more than just temperatures that come down
0:23.8	further?
0:24.8	Plus buy for a bounce.
0:26.6	The chart master says a rebound is coming for the retail sector.
0:30.6	He lays out his case.
0:32.2	And later forget chart of the week, this is chart of the summer.
0:36.5	This stock is up nearly 50% since Memorial Day.
0:39.8	We'll tell you what it is and where it's going from here.
0:42.7	I'm Courtney Reagan in this evening for Melissa Lee.
0:45.1	This is fast money live from the Nasdaq Market site.
0:48.1	On the desk tonight you have Tim Seymour, Steve Grasso, Bono and Eisen and Courtney Garcia.
0:53.2	It's wonderful to be with you all.
0:54.6	Let's start with that major reversal we saw on Wall Street.
0:57.6	The Dow, the S&P 500 and the Nasdaq selling off into a holiday weekend.
1:02.3	The Dow swinging 700 points from high to low and the Nasdaq, now down nearly 12% from
1:09.6	its August highs.
1:10.6	And yeah, it's just September 2nd, anxiety on the energy front overwhelming a Goldilocks
1:16.4	Georgia port.
1:17.4	Gazprom reporting the Nord Stream pipeline would stay closed until an engine oil leak is
	...

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