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CNBC's "Fast Money"

Stocks Break Their Win Streak and What’s Next For Meta? 8/19/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 19 August 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

U.S. markets ended the week sharply lower, with the S&P and Nasdaq both ending 4-week winning streaks. So is this the end of the recent rally, or is there opportunity ahead? Plus Morgan Stanley slashing its price target on the parent company of Facebook. And the Chart Master is here to give us his thoughts on where the stock is heading. 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 I'm fast to rub into a volatile week and stop sending a month-long win streak

0:06.4

in a big way today.

0:07.4

The S&P is seeing its biggest one-day drop since June, but with jacks and hole around

0:11.2

the corner and in use later earnings on deck, how should you position your portfolio?

0:15.0

Plus, I met a meltdown Morgan Sandland giving the Facebook parent a big price target cut

0:19.2

today.

0:20.2

So where's the stock going now?

0:21.2

We turned to the chart master for some answers.

0:23.9

And later, believe it or not, there were a couple bright spots in today's otherwise

0:27.7

cloudy market.

0:28.7

We'll tell you what's behind the big up moves in oxy and footlocker and bringing the

0:32.2

trades.

0:33.2

I'm Melissa Lee.

0:34.2

This is fast money, relaxing the Nasak Market site and the hard-of-time swear on the

0:36.6

desk tonight.

0:37.6

St. Brasso, Tim Seymour and Julie Beale of Kane, Anderson Rudnick.

0:41.7

We start off tonight with what else to see of Red out of Wall Street to close out this

0:44.9

week.

0:45.9

Major industry is all taking on the chin, but the Nasak tumbling 2%, both that index and

0:49.8

the S&P 500 snapping four-week winning streak.

0:52.6

The biggest lagger today include tech, retail, and meme stocks.

0:56.6

While this action is Wall Street goes back into Fedwatch, central bank officials convening

...

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