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CNBC's "Fast Money"

End of the Bear Market Rally? And the Next Frontier in Weight Loss Drugs 3/7/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 7 March 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Stocks plunged Tuesday after Fed Chair Jerome Powell suggested the central bank would keep rates higher for longer. So have markets finally come to terms with what the Fed’s been trying to tell us? Plus WeightWatchers the latest company to get in on the weight loss drug craze. What it means for the all the players, and are these treatments really the “Holy Grail” for obesity treatments. Fast Money Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0

Right now in fast rates are heading higher and probably faster, too.

0:05.0

Chair Powell telling the Senate the Fed may have to hike more than they plan and possibly

0:09.0

more quickly, too.

0:10.6

The historic reaction in the bond market and the sell off the triggered in stocks, plus

0:14.4

a shot in the arm for obesity drugs, WWE formerly known as Weight Watchers.

0:18.8

Inking a deal to allow them to prescribe weight loss drugs like ozempic and mojaro.

0:23.3

Some say this is a watershed moment.

0:25.3

Another sphere we are jumping on the fat loss wet bandwagon, too fast, we'll dig in.

0:30.6

And later, would you rather with two fang stocks, one Bitcoin name to find the crypto slump

0:34.8

and the airlines flying high in today's down market?

0:37.9

I'm Melissa Lee, this is Fast Money Relive at the Nasdaq Market.

0:40.4

So you've got a full house here tonight.

0:43.0

Steve Brasso, Karen Feiderman, Bono and Ison and Guy Adami all here on set.

0:47.6

We start off with a major reckoning for the market stock, stumbling after drone pal

0:51.0

sent a testimony this morning.

0:52.6

The Fed share warning that rates may go higher than previously expected, as a fight against

0:56.6

inflation is not over.

0:58.2

The Dow dropping nearly 600 points, snapping a 4-day win streak and falling back into negative

1:03.6

territory for the year.

1:05.4

The S&P and Nasdaq following suit.

1:07.4

But the real move came in the rates market, the yield on the two-year treasury topping

1:11.3

5% for the first time since July 2007.

...

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