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CNBC's "Fast Money"

Stocks Stage Turnaround & Starbucks Names a New CEO 9/1/22

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 1 September 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

The S&P and Dow erased major losses to end the day in the green, despite some big underperformance from the chips. What’s behind the rebound, and can it last. Plus, Starbucks names a new CEO. What he needs to do to get shares percolating again. 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 the semi-sell-off shares of NVIDIA and AMD dropping as the U.S. government

0:05.5

starts restricting sales of some of their chips to China will break down the next move

0:09.4

for the sector and go inside the rising tensions with Beijing straight ahead.

0:13.1

Plus, the not so friendly skies for investors, the major airlines grounded over the last

0:17.6

three months, but couldn't end to the summer surge actually help boost the fortunes of

0:21.4

the big carriers.

0:22.7

And later, octas historically bad day, an Amazon Prime-like subscription service potentially

0:28.0

coming to Apple next week, and we're all over the move in lieu of 11 after hours of big

0:32.1

earnings beat.

0:33.1

We're here from the CEO minutes from now.

0:35.0

I'm Melissa Lee.

0:36.0

This is Fast Money Life, the Nasak Market site on the dust tonight, Dan Athe and Guidami,

0:40.0

Tim Seymour and Burrayan Kelly.

0:42.0

And we start off with a major market turnaround, stock staging a rally in the last few minutes

0:46.0

of trading the Nasak 100, erasing a loss of more than 2 percent early in the day to close

0:51.2

in the green.

0:52.2

The S&P and Dow also snapping four day losing streets to eke outgains, the moves coming

0:56.8

despite deep drops and some semi-stocks, Nvidia shedding nearly 8 percent after the company

1:01.5

said the U.S. is restricting sales of some of its chips in China.

1:05.4

That stock is down more than 20 percent in the last week, shaving $100 billion off its

1:10.6

market cap.

1:11.6

And we also down today losing more than 15 percent in five days.

...

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