Financials Flop as Citi Drops, and Apple Ups Its Fitness & iPad Game

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 15 September 2020

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

A second straight day of major losses for Citigroup. Are there any opportunities to be had in the beaten down financial sector. Plus, there were no new iPhones announced at Apple’s latest product event, but can a host of new Apple Watches and iPads give the stock another boost?

Transcript

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0:00.0	I'm Melissa Lee and this is Fast Money.
0:03.0	Tonight's trader line of Gai Domi, Tim Seymour, Steve Grasso, in Victoria
0:06.2	Fernandez, Chief Market Strategist at Crossmark Global Investments.
0:09.5	Tonight on Fast, FedEx shares on the move after reporting results of companies conference calls about
0:14.0	to kick off. We'll bring you all the big headlines, plus Nicholas shares tumbling in the after hours on
0:18.6	reports. The Justice Department is now looking into claims the company misled investors will bring you all the
0:24.1	late-breaking details and later Steve Grasso is taking the mound to pitch his next
0:28.0	best idea why he thinks this beaten down retail stock is a total home run
0:32.3	investment all that but first the latest
0:35.2	from today's and also the latest from today's Apple event. We start off with the
0:39.0	major sell-off in the financials, the sector, the biggest drag in the market today
0:42.4	with the XLF falling more than 1.3%
0:45.0	City dropping another 7% today the company under pressure over the possibility
0:50.5	that regulators could crack down on the bank's risk management systems,
0:54.0	the stock is now down more than 12% in the past two sessions.
0:59.0	Guy, what's your take on the bank's overall city in particular?
1:02.0	Well, congratulations. take on the banks overall city in particular?
1:03.6	Well, congratulations.
1:04.6	Dan Nathan's been talking about this for a while.
1:06.4	And one of the things we've said is, you know, banks,
1:09.4	today's banks are much different than it were 10 years ago.
1:11.9	They become utilities, and you have to sort of,
	...

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