Stocks Drop as Market Eyes Regionals, Fed Hike, and Earnings from Ford, Starbucks, and More 5/2/23
CNBC's "Fast Money"
CNBC
3.9 • 1.3K Ratings
🗓️ 2 May 2023
⏱️ 45 minutes
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| 0:00.0 | Right now in fast, regional route one day after JP Morgan scooped up the carcass of |
| 0:06.6 | first republic more bangs are getting crushed pack west, America, western alliance, does |
| 0:11.2 | this signal more pain and more failures are still to come. |
| 0:14.1 | Plus ahead of the Fed decision, oil sending a major slow down signal crew dropping more |
| 0:18.2 | than 5% today, dragging the energy sector and industrial sharply lower, a deep dive |
| 0:23.3 | on the market slide straight ahead. |
| 0:24.9 | And later, Uber bucking the trend and riding gains into the clothes, check getting an education |
| 0:29.1 | on the impact of AI and earnings pouring in after the bell from Starbucks, AMD Ford |
| 0:33.7 | and Caesars will go inside the numbers. |
| 0:36.0 | I'm Melissa Lee. |
| 0:37.0 | This is fast money. |
| 0:38.0 | We're live in the Nasak market site on the desk tonight, Karen Feynman, Dan Nathan, |
| 0:41.0 | Guy Dami, and Rebecca Patterson, the former chief investment strategist at Bridgewater |
| 0:45.0 | Associates. |
| 0:46.0 | Always good to have you, Rebecca. |
| 0:47.7 | And we start off with a sea of red on Wall Street, major indices all down over a percent |
| 0:51.6 | ahead of tomorrow's Fed decision, investors seeing a more than 80% chance, the central bank |
| 0:56.3 | will raise rates and other quarter percent. |
| 0:58.3 | A big drag in the markets coming from the financials, both the big bank and regional ETFs |
| 1:02.1 | thinking more than 5% hitting their lowest level since late 2020, PacWest, Western Alliance |
| 1:08.3 | and America among the names down double digits. |
| 1:10.8 | But it wasn't just the big banks. |
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