Markets See-Saw As Fed Indicates Rates Could Rise More than Expected, and How to Trade the Insurers After Today’s Pullback 6/14/23

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.9 • 1.3K Ratings

🗓️ 14 June 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Dow fell as much as 428 points after the Fed paused in its rate hike cycle, but raised their target rate for the end of the year, signaling more rates than expected may be on the way. Plus shares of UnitedHealth, Humana and other health insurers dropped today after new data showed patients were choosing to undergo elective surgeries again, after a pandemic pause. We dig in on what’s next for these stocks. Fast Money Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Right now and fast, the Fed pauses, but ads don't get used to it.
0:05.2	Chair Powell saying more rate hikes are waiting and the wings of inflation doesn't keep dropping.
0:09.6	Markets taking the news and strides.
0:11.0	So in J. Powell, we trust, or the markets just not buying with the Fed is selling.
0:15.6	Plus, health care headache, the sector crushed today after the CFO of United Health, says
0:20.1	seniors are now getting all sorts of surgeries that they have delayed because of COVID.
0:24.4	How much pain is ahead for these stocks?
0:26.1	And later, a charm offensive in China, Beijing bringing its business leaders in to get their
0:31.0	advice on how to give the economy a jolt at the same time President Xi reportedly sets
0:35.0	meet with Bill Gates this weekend.
0:37.3	Could these moves put investing in China back on the map?
0:40.2	I'm Melissa Lee.
0:41.2	This is fast money.
0:42.2	We're live with the Nasdaq Market site on the desk tonight.
0:44.0	Tim Seymour, Steve Russo, Dan Nathan and Guy Damien.
0:46.8	We start off with the pause heard round the world about a reserve holding its key interest
0:50.9	rates steady at its latest policy meeting, but laying the groundwork for rates to climb
0:55.3	even higher than expected later this year.
0:57.7	The news and shockwaves through the markets with the Dow dropping as much as 428 points
1:02.2	at its low before pairing back those losses, the S&P and Nasdaq did manage to finish
1:06.4	the day in the green.
1:08.1	Meantime rates rocketed higher with the yielding of the two year touching 4.8% for the first
	...

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.