Is the Consumer Stronger Than We Think? And Where Are Oil Prices Heading Into Summer’s End 8/14/23

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.9 • 1.3K Ratings

🗓️ 14 August 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks posted gains as investors awaited results from the country’s biggest retailers. And while there are plenty of reasons to think the consumer would be under pressure this season, a new note suggests there could be reason for optimism. Plus oil prices are pulling back, but gas is heading towards 52-week highs. What’s next for the energy space? RBC’s Helima Croft joins to discuss. Fast Money Disclaimer

Transcript

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0:00.0	Right now and fast by your crime.
0:03.0	What is the real read on consumers and retail stops?
0:06.0	One Wall Street heavyweight says negative headlines about the health of the consumer
0:09.0	are overblown.
0:10.0	The details from that report coming up.
0:12.0	Plus hot steel, US steel rejecting a more than $7 billion offer from rival Cleveland
0:17.0	Cliffs.
0:18.0	But now another bitter putting an all cash offer on the table will exign off on a sale and
0:22.0	will regulators allow a deal to get done.
0:24.0	We will debate that.
0:25.0	And later, Tesla's summer slump is picking up steam and video surge ahead of earnings.
0:29.0	And Florida Governor Ron DeSand is not ready to bury the beef with Disney quite yet.
0:34.0	I'm Melissa Lee.
0:35.0	This is Fast Money.
0:36.0	We're live from the Nasdaq Market site on the desk tonight.
0:38.0	Follow an ice and Dan Nathan, Guy Damien, Julie Beale.
0:40.0	And with retail earnings season about to kick off, we start off with some potential
0:44.0	reasons to believe the death of the consumer has been greatly exaggerated.
0:48.0	Bank of America today, upgrading the discretionary sector to an overweight from an underweight
0:53.0	laying out a host of reasons, a point to growing hopes for a soft landing, no recession.
0:57.0	Means more consumption.
0:58.0	They say, plus the majority of consumers biggest debt burden, their mortgage are in fixed,
	...

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