Gold Glistens To New Highs… And Reddit Readies Its Pre-IPO Roadshow 3/8/24

CNBC's "Fast Money"

CNBC

News, Business, Investing

3.9 • 1.3K Ratings

🗓️ 8 March 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks taking a breather, as gold breaks out to a new high, topping $2200 for the first time ever. All while crypto continues its climb, with Bitcoin hitting $70,000. Could the moves have broader implications for the recent market rally? Plus… All eyes on Reddit. The social media company kicking off its pre-IPO roadshow on Monday. Where it will price, and the value drop it's seen over the last few years. Fast Money Disclaimer

Transcript

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0:00.0	Live from the Nasak Market site in the heart of New York City's Times Square.
0:05.0	This is Fast Money.
0:06.2	Here's what's on top tonight.
0:07.6	The Chip Dip and Vidia topping the tape at the open, but then tumbling nearly 10%
0:11.9	from the ties of the day.
0:13.0	Is this just profit taking on a Friday or the start of a true move lower?
0:16.5	We'll ask the Chartmaster. Plus, industrial surge shares of GE hitting nearly seven-year
0:21.2	highs today. The once mighty Dow component now up
0:24.1	more than 30% this year is this breakout for real. We'll debate that and later a new
0:28.8	milestone for Bitcoin another revved up day for Rivian and the Oscar goes to
0:33.8	We are live on the red carpet with the stock winners and losers ahead of
0:37.5	Hollywood's big weekend. I'm Melissa Lee coming to you live from studio at
0:41.0	the Nasdaq on the desk tonight. Tim Seymour, Steve Graso, Guy Dami, and
0:44.6	Rebecca Patterson, former chief strategist at Bridgewater. We start off with the market's
0:48.8	latest gold rush, the precious metal soaring to a new record high today,
0:52.5	tapping the $2,200 mark for the first time ever.
0:55.8	It just notch its best week since October,
0:58.4	and is up 20% over the past year.
1:01.0	The latest rally coming alongside Bitcoin which topped
1:03.8	$70,000 during today's session. Rival crypto, Ethereum, also hitting a
1:08.4	record. But stock markets taking a breather ending a topsy-turvy week
1:11.8	on a down note the NASDAQ shedding over a percent while the
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