Stocks Break Their Losing Streak in a Big Way, But Can the Momentum Continue? 05/27/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.9 • 1.3K Ratings

🗓️ 27 May 2022

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

The S&P put in its best week since November 2020, snapping a 7-week losing streak and rising more than 6% since Monday. Strength came across the board, but can the gains last? Plus one region of the world far outperforming the U.S. this month. We’ll tell you what it is, and whether we can find opportunities there. 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 in Passo winning week on Wall Street, the Dow breaking an eight week losing streak.
0:04.2	The S&P and Nasak snapping a seven week slide every sector higher.
0:07.6	Banks, builders, energy retail and more can the good times last plus is Bitcoin breaking down.
0:12.5	The cryptocurrency sliding more than 25% over the past month and the chart master says it could keep
0:17.4	refalling from here and later from Maverick to Mojitos.
0:21.6	It has been a good week for entertainment and travel sucks.
0:24.4	Can you still jump in or are these names entering the danger zone?
0:29.2	And I finally know what that refers to because I watched it.
0:31.5	I'm Melissa Lee.
0:32.4	This is Fast Money Lack in the Nasak Market site in the heart of Times Square.
0:35.1	On the desk tonight, Tim Seymour, St. Grasso, Bato and Eisen and Brian Kelly will join us in just moments.
0:40.4	We start off with that week long rally in Wall Street.
0:43.5	The S&P is surging 6.6% since Monday, ending a seven week losing streak,
0:48.7	putting in its best five days since November 2020.
0:52.3	It is now up a whopping 9% since last Friday's lows.
0:56.3	The Dow and Nasak also posting strong gains and take a look at some of the individual stocks posting huge jumps this week.
1:02.3	Dollar tripped nearly 30% diamond back at energy.
1:05.8	Dear Tesla, JP Morgan, just some of the names seeing double digit gains.
1:10.1	The strength coming across every sector as we started to see signs maybe that inflation is peak.
1:15.0	So as we head into this holiday weekend, can we expect this momentum to continue?
1:21.7	Do you feel better about the markets, Tim?
1:23.8	It's hard to feel better, Mel, after a 9.14% move from the intraday lows last Friday or 340 S&P points.
	...

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