OPEC Defies the Biden Administration and Don’t Bet on Tech 10/5/22
CNBC's "Fast Money"
CNBC
3.9 • 1.3K Ratings
🗓️ 5 October 2022
⏱️ 44 minutes
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| 0:00.0 | Right now in fast and OPEC up front, the oil cartel not yielding to pressure from |
| 0:03.9 | the U.S. to keep production level study and putting the Biden administration in a precarious |
| 0:08.1 | place ahead of midterms, so where oil price is going from here and what will it mean |
| 0:12.1 | for the already fragile economy? |
| 0:14.0 | Plus, socks making a major turnaround with the Nasdaq 100 are racing a more than 2% loss |
| 0:18.4 | at the open to end the day, basically flat. |
| 0:21.3 | One top technician says not to bet that tech will be the leader going forward. |
| 0:25.0 | He goes off the charts to make the case. |
| 0:27.0 | And chewy wags, it's tailed, maces on the ball and upside for Bank of America. |
| 0:30.8 | We've got our eyes on the moves and are bringing you the trades. |
| 0:33.5 | I'm Melissa Lee. |
| 0:34.5 | This is fast money. |
| 0:35.5 | We're live with the Nasdaq Markets. |
| 0:36.5 | I did a hard time square on the desk tonight. |
| 0:38.3 | Bono and I have some Courtney Garcia, Guaidami and Steve Grasso. |
| 0:41.6 | And we start off with oil outrage. |
| 0:43.7 | Crewed prices popping as oil OPEC announces plans to cut production by 2 million barrels |
| 0:48.5 | a day. |
| 0:49.5 | The biggest cut since the early days of the pandemic. |
| 0:51.6 | The move in raging the White House, which I've been putting pressure on the group to |
| 0:54.9 | increase output and help lower fuel prices ahead of the midterm elections. |
| 0:59.1 | The administration calling the decision short-sighted and saying President Biden has directed |
... |
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