Oil’s Big Breakdown, and a Special Earnings-Focused Second Hour 7/12/22

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 12 July 2022

⏱️ 89 minutes

🔗️ Recording | iTunes | RSS

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Summary

Oil prices plunging 8% today and posting their lowest close in three months. And it’s not the only commodity under pressure. So is this a sign that inflation has passed its peak? Plus in a special second hour of Fast, we’re breaking down everything you can expect as earnings season kicks off – from big tech to big banks, the headwinds, the opportunities and the outlook as companies report results. 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 and fast, the commodity crumble from crude's plunge below $100 a barrel to
0:05.8	copper's 20 plus percent slide in the last month.
0:08.3	What is behind this drop in prices for everything from wheat to lumber to you name it, and
0:13.1	could it really be assigned your past peak inflation plus bowing taking off?
0:16.9	The aerospace giant posting is best aircraft order numbers in over three years and the stock
0:20.7	popping more than 15 percent in the last month, but can you trust this rebound?
0:25.0	And later, one tech CEO's big time warning shares a service now cratering after the
0:29.5	CEO tells their Jim Kramer, he sees some serious headwinds ahead, the potential ripple
0:33.7	effects on the sector straight ahead.
0:35.5	I'm Melissa Lee, this is fast money life in the Nasak Market site on the desk tonight
0:38.9	Karen Feinerman, Guy Downey, Tim Seaworn, Steve Brasso.
0:42.1	We start off with a great energy breakdown crude oil tumbling more than 8 percent today
0:46.0	closing at its lowest level in three months, the drop putting pressure on oil stocks too.
0:51.0	Every member of the XLEETF down today with Apache EOG and has leading the way lower, but
0:56.5	it's not just energy on the decline.
0:58.1	Take a look at the moves in ag prices, copper, nickel, the metals, all down 20 percent
1:03.4	or more in just the past month.
1:05.0	This is we await the latest reading on CPI out tomorrow before the bell, economists
1:09.4	expect consumer prices rose nearly 9 percent in June.
1:12.7	The fastest pay has since December 1981, amazing, amazing, but does the recent commodity
1:18.2	price drops suggest we truly hit and maybe past peak inflation guy?
1:23.4	We'd appear that way and I'm sure the feds breathing a collective sigh relief, I'm
	...

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