Markets Lose Momentum, but Growth Stocks Rebound, and Time to Trade or Fade China? 1/9/23

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 9 January 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets closed well off their highs to start the week, with the Dow giving up a 300+ point gain to end in the red. The Nasdaq, though, managed to close higher as high-growth names like Tesla and Nvidia posted strong sessions. Will these names lead the market higher? Plus, China stocks have rallied strongly over the last three months, but where do they go from here? The Chart Master has some thoughts.

Transcript

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0:00.0	Right now and fast bouncing off the bottom, even on a down day, semi-surging energy
0:07.1	higher EVs making a comeback, even some crypto and meme stops rising from the ashes.
0:12.1	So can you play this January sector melt-up?
0:14.7	Plus, we'll spin the fast money game show wheel on China.
0:17.7	In the last two months, the FXI is up 36%, the K-Glub up over 65%, is a time to trade
0:23.8	or fade China.
0:25.2	And later, we'll start the big reveal for our acronyms of 2023 all week.
0:29.3	New traders of the show will literally spell out their picks for the New Year.
0:32.9	Tonight's reveal includes a big bank, a couple of rides home, and a weight of stays social.
0:36.9	I'm Melissa Lee.
0:37.9	This is Fast Money Life, the Nasak Market site on the desk tonight, Karen Feinerman, Dan
0:41.6	Nathan, Steve Grasso, and Guy Adami.
0:43.6	And we start off tonight with a major loss of momentum for the markets, a dollar racing
0:48.1	a more than 300 point gain at the start of the day, to close with a loss of more than 100
0:52.4	points.
0:53.4	The S&P up almost a percent and a half at its highs, finishing basically flat on the
0:57.1	day.
0:58.1	The meantime did manage to hold onto its gains, but ended well off its best levels, helping
1:02.2	the tech heavy index a couple of recently beaten down names Tesla, jumping nearly 5% for
1:06.9	its highest close of the year, and video seeing its best in a month, other EV and semi-names
1:11.7	also rallying.
1:13.2	But is a rebound in high growth just a head-fake, or can they bring the rest of the market
	...

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