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CNBC's "Fast Money"

Mag7 Hiding Potential Market Trouble… And Expectations Ahead Of Trump-Xi Meeting 5/8/26

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 8 May 2026

⏱️ 47 minutes

🧾️ Download transcript

Summary

Stocks hitting fresh record highs, and notching a sixth straight week of gains, but could there be some trouble brewing under the surface? How stocks are holding up this earnings season when the Mag7 aren’t carrying the weight, and if the lagging sectors can keep up with the AI & tech trade. Plus Intel surges after an Apple deal, the strong memory for one ETF that’s attracting lots of options activity, and what to expect out of President Trump’s meeting next week with China’s Xi Jinping. Fast Money Disclaimer

Transcript

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0:00.0

Live from the NASDAQ market site in the heart of New York City's Times Square, this is fast money.

0:05.3

Here's what's on tap tonight. A big week for the chips trade with names like Micron, Sandisk, and AMD all rising.

0:11.4

20% or more can the AI-driven rally keep its momentum, or is there trouble brewing for these stocks?

0:17.3

Plus Apple continues its stealth rally. Gold prices get back off the mat. And the hottest

0:21.7

ETF since Bitcoin Mania, who is at its peak and the new craze among young workers, income

0:27.5

stacking. Gen Z taking on multiple jobs to supplement their incomes, what's behind the trend

0:32.2

and the implications as it starts to seep into older generations. I'm Melissa Lee. Come to you live from studio, be at the NASzi, on the desk tonight, Tim Seymour, Steve Grasso, Guy Dami, and Bono and Eisen. But we start off with the AI trade powering markets to new heights. The S&P and Nasdaq both closing eight at record highs again today, notching six-week winning streaks. The AI surge in memory stocks fueling the fire. They are a micron

0:55.9

up 38% since Monday. It's best week since the financial crisis. Sandus is up for six week in a row,

1:01.7

Intel posting its best week since the turn of the century, the Mag 7 having a strong run as well.

1:08.1

Actually, turn of the century is not that long ago. Tesla and Nvidia each up over 8% since Monday, Google and Apple both gaining 4%. Investors seeming to shrug off

1:15.9

continued uncertainty around the Iran war, but is the rest of the market keeping pace?

1:21.1

Six mag-7 stocks that have reported this quarter have seen earnings grow nearly 60% according

1:26.4

to LSEG. Without them, the S&P is up less than 20%.

1:30.7

Invidia expected to have the single biggest impact on earnings growth when it reports in two weeks.

1:35.7

So are the broader market gains masking trouble under the surface guy?

1:41.0

Well, the earnings growth is a hello.

1:42.8

Welcome back.

1:44.0

Do you miss me?

1:44.9

It's nice.

1:45.3

Were you gone?

1:46.1

You don't know.

1:58.4

Just kidding. You don't ask if somebody missed. I know, right? You know what? You know what's a safe? Right. You know what Tim you make is a similar? You missed her. I did, but it was hoping for reciprocity. You were fishing.

...

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