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CNBC's "Fast Money"

Markets Big Week… And U.S.-China Trade Relations In Focus 11/8/24

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.31.2K Ratings

🗓️ 8 November 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

The S&P 500 notching its best week of the year as stocks benefit from a post-election surge. How a new administration could impact the markets, while the Fed continues its easing policy. Plus China Challenges on the horizon. Stocks selling off after a disappointing stimulus package failed to impress investors, and with tariffs likely in store, one China expert is faring an all-out trade war. The huge challenges he sees ahead. 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.

0:05.6

Here's what's on tap tonight.

0:06.9

A new milestone for the S&P, the benchmark indexed crossing the 6,000 mark for the first time.

0:11.8

Just nine months after breaking 5K, how much more room is left to run for stocks and can anything derail this rally.

0:18.7

And a China setback from fears over new tariffs to stimulus that

0:21.6

failed to impress. The country facing a slew of potential issues is the run in those markets

0:26.2

over or is there more opportunity to be had? Plus Elon's monster return on his election

0:30.7

investment. Why the chartmaster thinks it's time to sell Apple and are we in for a wave of

0:35.8

mega mergers in the media business. I'm Melissa Lee,

0:38.3

coming to you live from Studio Bia at the NASDAQ on the desk tonight. Tim C. Morris, Cigras of

0:42.0

Bono and Eisen and Mike Co. We start off with the record week for markets, the S&B 500 crossing

0:47.0

the 6,000 mark for the first time ever in today's session. The closing just below that level, it is up nearly 5% since Monday, its best week in a year.

0:56.0

The Dow hitting a record of its own today, topping 44,000.

0:59.0

It was, incidentally, the first day with Nvidia in the index.

1:03.0

Those weren't the only milestones.

1:04.0

The NASAC also hit an all-time high during the session, and even small caps are soaring.

1:08.0

The Russell 2000 putting in its best week since 2020, closing less than 2% from its record.

1:13.9

Of course, all this coming on the heels of Donald Trump's election win, plus that quarter point rate cut by the Fed yesterday.

1:19.4

So do markets now have the assurance they need to keep grinding higher? Tim, what do you say?

1:25.6

Well, look, I think we have a case. If you think about the Fed from their

1:28.6

last meeting and where they were focused on the other side of their mandate, which is the labor

1:32.1

market, the job market, which looks fine. We even had services data this week, earlier in the

...

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