House Votes on Coronavirus Relief Bill as a New Strain Threatens More Shutdowns

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 22 December 2020

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

While the broad market staged a solid rebound Monday, the “reopening trade” continued to falter, with airlines, cruise lines and hotel stocks taking a hit. But is it time to get in on these names? Plus the “Worst Looking Chart in the Market” -- why one trader is staying away from Intel.

Transcript

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0:00.0	I'm Melissa Lee and this is Fast Money, tonight's trader line of Guy Dami, Tim Seymour,
0:05.2	Dan Nathan, and Jeff Mills. Tonight on Fast, a sputtering start.
0:08.8	She shares a Tesla on a rocky road, its first day in the S&P 500, but should investors keep pumping the
0:13.7	breaks on this. Plus the worst looking chart in the market why one of our
0:17.2	traders says the fundamental story for this stock is quote-unquote atrocious and
0:21.4	later the general is winding up for a fast-pitched on a $13 billion
0:25.1	stock you may never have heard of.
0:27.1	Why he says you might want to take a bite out of this company right now.
0:31.1	We start off with the two big stories driving the market action today
0:33.7	the COVID relief bill in Washington and a new strain of the virus spreading in the
0:37.6	UK. Let's start with Elon Moy with the latest from DC. Elon
0:42.1	Melissa the house is now debate. from DC, Elon.
0:43.1	Melissa, the House is now debating that combined COVID relief package and government funding
0:48.6	bill.
0:49.6	A procedural vote is expected to happen on the House floor soon and then they'll move into the
0:53.5	final debate and vote on this legislation. Now Senate majority leader Mitch
0:57.5	McConnell said that once this bill hits his chamber his members are going to
1:01.4	stay in session until they get this done tonight, though of course
1:06.2	that could slip into the wee hours of tomorrow morning.
1:09.1	Now technically the government does run out of money at midnight.
1:12.8	So as a backstop, lawmakers are also voting on a one-week stopgap funding measure
1:18.1	to make sure that the lights stay on until President Trump can actually sign this bill into law, which could still take a couple of days.
	...

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