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CNBC's "Fast Money"

Stocks Sink as China Concerns Deepen, and the Real Read on Black Friday Sales Growth 11/28/22

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 28 November 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

Stocks closed near their lows of the session as protests over China’s COVID policies sent ripple effects across the markets. How deep an impact can we see, and what companies will be most impacted? Plus online sales on Black Friday hit a record this year, but is the consumer really as strong as these numbers suggest? We dig in and get all the details. 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 fast and unmitigated disaster, that's what Stephen Roach is calling China's

0:05.3

Euro-Covid policy.

0:06.3

The impact it could have on economic growth and what will mean for markets here at home.

0:10.1

Plus, a Bahamut holiday, Black Friday sales hit a record this year, but could that bright

0:14.6

shiny packaging be hiding a lump of coal?

0:17.4

We dig into the numbers to find out how strong the consumer really is.

0:20.9

In a three-decade deal, we will talk to the CEO of Digital Add Company, Tabula, about

0:24.9

his deal with Yahoo in the state of the online ad space.

0:27.8

I'm Melissa Lee.

0:28.8

This is Fast Money Relived in Nasdaq Market, side in the heart of Times Square on the

0:31.9

desk tonight, Karen Feinerman, Dan Atheon, Guy Adami, and Jeff Mills.

0:35.4

We start off with a sea of red to kick off the week on Wall Street, the Dow dropping

0:39.1

nearly 500 points closing down, almost a percent and a half.

0:42.4

The S&P 500 and Nasdaq seeing even bigger losses, the moves, coming as Wall Street grapples

0:47.0

with the unrest in China over the Euro-Covid policies and what that means for markets and

0:51.6

supply chains.

0:52.6

Apple, down more than 2.5 percent after the report of the hit to production of its latest

0:57.6

high-end iPhone, could be double what was originally expected.

1:00.9

Semmy stocks, another big lagger today, Lumen technology shedding 6 percent on semiconductor

1:05.9

NXP and micron also down sharply.

1:08.4

A better outcome for casino stocks, so China granting win-resourced Las Vegas Sands

1:12.2

Melco and MGM provisional licenses to continuing operating in Macau, went up more than 4 percent

...

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