Roaring Memes, Restrained CPI and SPX Highs

On The Tape

RiskReversal Media

News, Business, Investing, Business News

4.6 • 757 Ratings

🗓️ 13 May 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of “On The Tape,” Dan Nathan and Liz Young discuss positioning into this week’s CPI report (3:30), consumer savings (6:30), earnings (10:00), whether the AI rally is running out of steam (15:00), Nvidia (20:00), M&A activity (21:15), bank stocks (23:00), where the next 500 points in the S&P will be (26:00), and ‘Roaring Kitty’ driving GameStop higher (28:30). More Links Check out this tweet from The Kobeissi Letter Trading down is trending up (Axios) Chinese Regulators Tell Local Tech Firms to Buy Fewer Nvidia Chips (The Information) Nvidia’s stock can soar 50% more as earnings power still isn’t priced in: HSBC (MarketWatch) GameStop shares jump 40% as trader ‘Roaring Kitty’ who drove meme craze posts online again (CNBC) Subscribe to our newsletter: https://riskreversalmedia.beehiiv.com/subscribe — About the Show: On The Tape is a weekly podcast with CNBC Fast Money’s Guy Adami, Dan Nathan and Danny Moses. They’re offering takes on the biggest market-moving headlines of the week, trade ideas, in-depth analysis, tips and advice. Each episode, they are joined by prominent Wall Street participants to help viewers make smarter investment decisions. Bear market, bull market, recession, inflation or deflation… we’re here to help guide your portfolio into the green. Risk Reversal brings you years of experience from former Wall Street insiders trading stocks to experts in the commodity market. — Check out our show notes here See what adding futures can do for you at cmegroup.com/onthetape. — Shoot us an email at [email protected] with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod on Twitter or @riskreversalmedia on Threads — We’re on social: Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow Liz Young @LizYoungStrat on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Transcript

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0:00.0	Welcome to the On the Tate podcast. I'm Dan Nathan, joined by EY from SoFi. That would be Liz Young. Liz, welcome.
0:07.5	Hello. Happy Monday. Yeah, we got a lot to do this week. It is CPI week. There's going to be a whole host of Fed speak. We know Fed Chair Powell speaks on Tuesday morning. And then a bunch of his colleagues, peers, whatever you want to call them, speak the rest of
0:21.6	the week. There's definitely some interesting earnings this week. We just thought that S&P 500 earnings
0:27.1	are done, but they're not. We're going to get into the meat of retail. And I guess really the
0:31.3	focus is going to be a lot of this economic data and really what the path of rate cuts might be
0:36.6	for the Fed. Or if we get a hot CPI number,
0:39.2	if we start seeing maybe hikes being priced in.
0:41.9	Who knows?
0:42.6	That's why this week is going to be very interesting.
0:44.6	As the S&P 500 approaches its prior all-time highs, just a little housekeeping really quickly.
0:49.8	Guy on Friday afternoon dropped a great conversation with Michael Saylor. He is the chairman of
0:56.2	Micro Strategy. He is Bitcoin Evangelist. Really interesting conversation, no matter what you think
1:01.9	of Bitcoin and that his company has been buying it, hand over fist issuing equity, issuing
1:07.5	debt to buy it. His reasoning for it is really interesting whether you agree or not.
1:11.8	So take a listen to that. And also later on this week, Guy, Danny and myself sit down with Steve
1:16.9	Eisman of Big Short Fame. He is Danny's ex-partner. You guys know him from the book, from the movie.
1:22.6	And Steve has been in some live events with us. So this is the first time that Steve is going to be on the pod. That's going to be straight fire, as the kids say, Liz. All right, let's talk about this.
1:31.7	Let's just get into the macro and maybe we'll move to some of the individual names a little bit.
1:36.8	I think we learned a lot about the consumer, at least a portion of the consumer from some of
1:41.6	those earnings over the last few weeks, whether it was McDonald's and Starbucks and Nike. But we'll get to that as we get into Walmart and Target
1:47.7	and Home Depot and the like here. But first things first, rate cuts. Are they happening this year?
1:53.4	Do they depend on this April CPI print? And I'm just curious how you're thinking about the positioning
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