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CNBC's "Fast Money"

Stocks Sink on Hot Inflation Report, and Apple Breaks Below Key Level 2/24/23

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.31.2K Ratings

🗓️ 24 February 2023

⏱️ 22 minutes

🧾️ Download transcript

Summary

Markets closing out their worst week of the year with more losses after the Fed’s preferred inflation measure showed prices rose faster than expected in January. What that means for the central bank and your money. Plus Apple dropped below its 200-day moving after for the first time since the start of the month. The Chart Master dives in for some answers on where it’s going next. Fast Money Disclaimer

Transcript

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0:00.0

Right now on fast, pain on the street, the S&P and Nasdaq finishing their worst week

0:06.5

since December, as another read on inflation comes in hotter than expected.

0:11.4

Our stocks in danger of heading back to their October lows will debate.

0:14.9

Plus, a rotten week for Apple, the tech giant dropping over 4% falling below a key technical

0:20.6

level, plus the chart master, if he can tell us, to the penny where Apple has headed

0:25.4

from here.

0:26.4

And later, our chart of the week that's week with an A, it's a name last month, we enjoyed.

0:32.7

It's a name that enjoyed, the halo from the reopening trade last month, but it's now

0:37.3

suffering as geopolitics takes center stage.

0:40.0

I'm Sarah Eisen in from a list of late tonight, business fast money live from the Nasdaq

0:43.6

market site.

0:44.6

On the desk tonight, Mike Coe, Jeff Mills and Guy Adami, and we are going to start with

0:49.2

a rough end to a rough week.

0:50.4

The Nasdaq leading the losses with a drop of over 1.6%, the tech heavy index turning,

0:55.9

back negative for the month of February, S&P now down in five of the last six trading

1:00.1

sessions and for the last three weeks in a row.

1:03.3

The Dow finished down 336 points today off the lows, but notching its fourth straight

1:07.7

weekly loss.

1:09.0

It's closed the lowest of the year so far.

1:12.2

The moves coming after yet another hot inflation report.

1:15.2

The Fed's preferred measure, the PCE, showing prices rose more than expected in January.

1:21.3

Another reason the Fed could keep its aggressive pace of rate hikes uncurved.

...

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