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CNBC's "Fast Money"

Fast Money 08/25/20

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.31.2K Ratings

🗓️ 25 August 2020

⏱️ 46 minutes

🧾️ Download transcript

Summary

Listen To Our Traders Take You Behind the Money...How To Play the Volatility...Pops and Drops: The Movers You Missed.

Transcript

Click on a timestamp to play from that location

0:00.0

Toss from David Faber. So unusual, I'm Melissa Lee and this is Fast Money,

0:05.1

tonight's trader line of Guy Dami, Kim Seymour, Peaurean, and Brian Kelly tonight on Fast

0:10.1

Salesforce stores on a big earnings beat. The company's conference called

0:13.3

Just Getting Started will bring you all the big headlines. Plus Facebook goes shopping.

0:17.6

We'll tell you about the social media giants push into e-commerce and later the

0:21.8

big baba breakout the stock has been an absolute tear one of our traders sees even more upside ahead

0:27.0

We'll bring you that trade but we start off with the end of an era iconic American oil giant Exxon Mobile getting booted from the

0:34.1

Dow after nearly a hundred years in the index Exxon's tenure as the longest

0:38.3

serving Dow component comes to an end on Monday when Salesforce, the Cloud

0:42.4

Company, takes its place.

0:44.0

Exxon's removal from the Dow is nothing less than a remarkable sign of the Times just

0:48.6

seven years ago.

0:50.1

It was the largest publicly traded company in the United States.

0:53.8

But since then, shares have been on a steady decline in this year's no exception.

0:57.4

Exxon is down more than 40% in 2020 on pace for its worst year ever.

1:03.0

So is Exxon's removal from the Dow a sign that Big Oil is dead money.

1:09.0

Guy Dau me?

1:11.0

I think so, and it's something we've been saying for a while so I think they

1:14.6

finally came to the realization that hey look the world's changed energy is not

1:18.8

nearly as important to the US economy as it was to your point a decade or so ago.

1:24.2

And I guess we have to make a choice between Chevron and Exxon and, you know, for whatever reason,

1:28.5

I'm sure they obviously have their reasons, they picked Exxon to remove.

...

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