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CNBC's "Fast Money"

Stocks Rally Even as Consumer Comes Under Pressure, And What to Expect from Netflix’s Annual Meeting 6/1/23

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 1 June 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

The S&P and Nasdaq closed at their highest levels since last August, but there appear to be signs the consumer is coming under pressure. So will big tech be able to keep the rally going, or will headwinds weigh on the market? Plus Netflix’s annual shareholder meeting kicks off later tonight. What you can expect and how it’ll affect the stock. Fast Money Disclaimer

Transcript

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0:00.0

Right now and fast the unstop a bull major average is keep powering higher despite

0:06.2

new signs the consumers tapping the brakes on spending and dealing with new

0:09.6

headwinds coming from the debt ceiling deal in Washington the bullbear

0:12.8

tug of war straight ahead plus cashing out why wealthy investors are pulling

0:16.6

their money out of stocks and piling at the cold hard cash the details on

0:20.4

their slow money plays straight ahead plus Apple closing in on new highs ahead

0:24.4

of the big developers conference Netflix surging before kicking off its

0:27.6

shareholder meeting in Carvana keeps on trucking what's behind their nearly

0:31.1

50% gain in just the past five days I'm Melissa Lee this is fast money

0:35.3

we're live with the Nasdaq market site on the desk tonight Tim Seymour

0:38.2

Karen Feierman Dan Nathan and Victoria Fernandez across Mark Global we

0:42.4

start off with new nine month highs for the markets and Nasdaq leaving the

0:45.4

charge up 1.3% not to its highest close since August 16th the S&P also hitting

0:50.5

levels not seen since that month last year the moves coming even as we see

0:54.8

some signs of consumers coming under pressure dollar general with its biggest

0:58.2

drop on record after the discount retailer slashes out look for the year

1:01.8

said it's core shoppers rainy and spending all this is we await tomorrow's

1:05.9

jobs report which is expected to show hiring slow to its slowest pace since

1:09.8

December 2020 so we'll be text boom continue to boost this market will

1:14.2

consumer slowdown start the pump the brakes on this rally it seems like

1:18.2

these two things are going in parallel to him it's fascinating because the

1:21.5

retail performance whether it's the XRT we talk about that but even some of

...

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