Stocks Digest Hot Jobs Report, and Is the Energy Trade Out of Gas? 2/3/23

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 3 February 2023

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stock losses accelerated midday after initially showing resilience in light of the stronger than expected jobs report. But Apple managed to post a solid gain, despite its disappointing earnings report. We dive into the market moves and lay out what’s next for investors. Plus the XLE energy ETF breaking a 7-week win streak. Has the trade run out of gas, or are there still gains to come? Fast Money Disclaimer

Transcript

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0:00.0	Right now on the big show, fast money, a huge jobs report, a major apple turn around
0:07.2	and despite a Friday fade, it was another week of gains for the S&P and NASDAQ.
0:12.1	How long will this red hot start to 2023 last?
0:15.4	We are going to debate it.
0:16.6	Plus a Friday edition of Traded or Fade It, setting the table for next week's big earnings
0:20.7	reports including Disney, PepsiCo, Lyft, lots more.
0:25.2	And then later on, our chart of the week, it's been one of the most crowded trades on
0:29.5	the street.
0:30.5	But is it now starting to run out of gas?
0:33.8	Intent.
0:34.8	I did.
0:35.8	I win.
0:36.8	Guys.
0:37.8	I'm Dominic Chiuin from Melissa Leigh.
0:38.8	This is Fast Money Live from the NASDAQ Market site.
0:40.8	On the trading desk tonight, we have Tim Seymour, also Courtney Garcia, Bono and Ison, and
0:45.2	then Jeff Mills as well.
0:46.7	Today, we start with a Friday fade on Wall Street, stocks closing year.
0:51.0	There are lows of the day, losing momentum after a much hotter than expected jobs report.
0:56.1	The NASDAQ falling a percent and a half, but still managed to gain for the week the
1:00.5	tech heavier NASDAQ index riding a five-week winning streak at its longest since November
1:06.4	of 2021.
	...

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