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CNBC's "Fast Money"

Markets Close Out a Strong Week, But Is There Trouble Under the Surface? 11/11/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 11 November 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

Major stock indexes were able to keep up the momentum after yesterday’s stellar rally, with the Nasdaq closing out the week with an 8% gain. But one of our traders cautions, “Not so fast!” It might be too early to jump into this rally with both feet. Plus, what the dropping dollar means for markets, and the stock that’s rebounded 25% this week. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

Right now on fast, dollar doldrums, the greenback marking its biggest drop since March 2020

0:09.0

this week and the chart master sending us a big warning signal for what it may mean

0:13.3

for the rest of the market, plus a semi surge chip stocks have warred back to life in

0:18.3

the past month with the SMH semiconductor ETF up more than 30% from its October lows.

0:24.5

So is this a sign that the sector has truly hit a bottom and even in a strong week

0:28.8

for markets? One stocks move really stood out. How this stock jumped nearly 25% in just

0:34.2

five days and where it's going from here. I'm Sarah Eisen in tonight for Melissa Lee.

0:39.6

This is fast money live from the Nasdaq market site in the heart of rainy and dark times

0:44.1

where on the news death tonight. We've got Courtney Garcia, Tim Seymour, Steve Grasso,

0:49.0

and Jeff Mills. Welcome everyone. We're going to start with the market. Seeing keeping

0:53.2

up the momentum that we saw after yesterday's monster rally, the Nasdaq jumping nearly

0:57.5

2% to end the week. The SMB 500 briefly coming back above the 4,000 mark and even the

1:03.3

Dow, which spent most of the day in the red, managed to eke out again. The major indices

1:07.9

all posting solid gains for the week with the Nasdaq up more than 8% since Monday, best

1:13.7

week since March. But one of our traders says not so fast. Things may not be as good as

1:19.5

they seem. Tim, that would be you. What warning signs are you seeing under the surface here?

1:25.4

I hate to be Timmy Downer here and welcome Sarah, but I would just point to some obvious

1:31.4

things that start out with, look, the wall of worry is for the market to go higher. We know

1:35.4

where positioning was. We know where cash levels were and we know where sentiment has been.

1:40.4

But that inflationary number again, down 3%, tens of a percent on core from 40 years

1:45.4

highs because of use car prices and a new calculation for healthcare, doesn't take the

1:51.0

Fed out of play. And I recognize what it means in terms of relative change and what that

...

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