Stocks Surge On Back Of Fed Rate Cut… And Credit Card Interest Gets Political 9/19/24

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 19 September 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Investors piling back into the growth trade as stocks rally on the back of the Fed’s big rate cut. Does the central bank’s policy shift give the all clear for marktes? And will the tech trade lead the charge once again? Plus Former president Donald Trump interested in credit card interest. The cap he’s calling for… and how some other policies from both sides are raising some eyebrows. Fast Money Disclaimer

Transcript

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0:00.0	Live from the Nazac Market site in the heart of New York City's Times Square, this is fast money.
0:05.0	Here's what's on tap tonight. A new top dog at Nike, CEO John Donahoe, stepping aside.
0:10.0	The news sending shares soaring after hours. will this be the catalyst to turn things
0:14.1	around for the struggling shoe giant plus did the Fed give the markets the green
0:18.1	light the Nasak surging two and a half percent the S&P endowed setting new
0:22.1	records why are investors crowding
0:24.2	back into the growth trades and will the momentum continue? Plus a populist
0:28.5	Palusa. Donald Trump now proposing a cap on credit card rates in the latest move to woo
0:33.8	fence-sitting voters. How do the policies from both candidates stack up and do any of
0:38.0	these price capping and free money programs stand a chance of happening?
0:42.1	I'm Melissa Lee coming to you live from Studio
0:44.0	Be at the Nasak on the desk tonight. Tim Seymour, Dan Nathan, Steve Grasso and
0:47.7	Julie Beal. And we start off tonight with breaking news on Nike. Shears
0:51.2	jumping after the company announced just in the last hour that
0:53.8	Elliot Hill will take over a CEO and president in October replacing John Donahoe
0:58.5	the stock is up 10% right now Sarah Eisen joins us now with the full story
1:02.3	Sarah finally something's happening
1:04.1	well that it gives you a reflection the the stock price of how investors were
1:07.0	feeling about this leadership so here's what I can tell you John Donahoe the CEO
1:10.4	announced with the board came to the decision that he will be retiring as of
1:14.7	October 13th he's going to stay on as advisor till January 31st 2025. The new CEO
1:21.2	is Elliot Hill. He starts October 14th. He is a Nike veteran. He was at the company for a 32 years
	...

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