Market’s Major Reversal and Trading or Fading Next Week’s Earnings 7/14/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 14 July 2023

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The S&P and Nasdaq hit their highest levels of the year in the morning, after beats from some of the country’s biggest banks drove financial stocks higher. But the gains didn’t last long. Couple that with the move in rates and the dollar, how are the markets setting up now? And with Tesla, Netflix and more megacap names on the earnings calendar for next week, our traders take a look at the names to trade and fade into the the results. Fast Money Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Thanks to on right now on fast. Easy come easy go. Bank stocks come out of the gate hot as Q2 earnings kick off
0:07.9	But those early gains reversed in a hurry and the rest of the market went along for the ride
0:12.1	With this Friday fade says about the strength of stocks from here
0:15.6	Plus there was one part of the market that was able to keep its head above water today
0:19.7	Health care riding high after what's been a rough month the chart master here to tell us why he thinks there is more room to run
0:27.0	And later it's Friday so you know what that means we've got a chart of the week the stock
0:31.0	Looking at its best five day run in over three years. We'll tell you what it is in the 30 minutes or less
0:36.9	I'm Sarah Eisen in tonight for Malitoli. This is fast money live from the Nasdaq Market site on the desk with me tonight
0:42.9	Bono and I send
0:44.2	Courtney Garcia at Steve Grasso and Guy Adami welcome to all of you
0:48.2	We're gonna start with that roller coaster ride for bank stocks
0:51.0	JPMorgan city group Wells Fargo all popping at the start of trade after each posted revenue and earnings beats for the second quarter
0:57.7	But then the gains didn't last long JPM managed to close in the green
1:01.4	But still ended the day well off its highs look at Wells Fargo dropping in a negative territory city falling 4% turns out for its worst day
1:09.0	Since March the reversal felt across the broader market while the Dow managed to eke out a fifth straight day of gains the S&P and the Nasdaq both closed
1:17.0	In the red still overall very solid week for stocks all the major averages posting strong gains since Monday
1:23.6	The Nasdaq up more than 3% so what message does all this action send as we head into the start of earning season
1:30.3	Guy, what did you make of the reversal? What happened?
1:33.5	Hi Sarah. It's great to see you. I'm sorry. I'm not there. Um, I think it's interesting. Listen
1:38.5	I don't want to make a huge deal out of one day. I'll say this last Friday
1:41.6	You saw a similar reversal in the market the Friday's leading up to that
1:45.4	The market was sort of on cruise control every Friday would just levitate
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.