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CNBC's "Fast Money"

Meta’s Big Quarter… Plus The Latest Fed Rate Decision Description 7/31/24

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 31 July 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Meta shares higher after reporting results. The details from the conference call, and what you can expect from the social stock next. Plus Stocks surging as the Fed leaves rates unchanged, and Jerome Powell is pointing to September for a possible rate cut. What the rate change could mean for your money. Fast Money Disclaimer

Transcript

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0:00.0

Live from the Nesac Market site in the heart of New York City's Times Square, this is fast money.

0:06.5

Here's what's on tap tonight.

0:08.0

Mega Meta shares with the tech giant jumping after its latest earnings report as CEO Mark Zuckerberg aims to offer the most used

0:14.4

AI assistant in the world by the end of the year. Will his efforts pay off?

0:18.3

Plus the Powell bounce markets jumping after the Fed shares a September rate cut is truly in the

0:24.1

cards. The tenure hitting its lowest level since March. Did the Central Bank just

0:28.2

give the green light for investors? We'll debate that. And Boeing shares take off as a

0:32.2

company selects its next CEO. What the former

0:34.7

head of Rockwell Collins can bring to the Embabbled Aerospace Giant and will he be able to turn

0:39.4

things around? I'm Melissa Lee coming to you live from Studio Be at the Nasak on the desk tonight.

0:43.6

Steve Brasso, Karen Finerman, Guyadami, and Michael Contopoulos, director of fixed income at

0:48.0

Richard Bernstein Advisors. We start off with the two big events for the market today.

0:52.1

First, the Fed leaving rates unchanged

0:54.4

at the latest meeting, but keeping hopes alive

0:56.6

for a cut in September, if that is inflation continues to cool.

1:00.5

We'll get more on that shortly but first meta earnings the stock is up

1:04.0

about 4.5 percent after reporting a beat on the top and the bottom line the

1:07.5

call just getting underway at the top of the hour.

1:09.8

CNBC Julia Borsons got all the numbers Julia. That's right Melissa, met a beating on the top and bottom line and giving third quarter

1:16.1

revenue guidance and a range ahead of the analyst consensus.

1:19.6

The company also narrowing its all important Kopex guidance, bringing up the lower end of its cap-ex

1:25.3

range to between $37 and $40 billion.

...

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