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CNBC's "Fast Money"

The Consumer in Turmoil, and the Ultimate Would You Rather 10/5/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 5 October 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

From discount retailers, to high-end luxury names, to grocery aisle staples – it’s tough to find a consumer name that hasn’t been under pressure in recent weeks. What the moves say about the strength of spending, the economy and the markets. Plus, we’re pitting stocks against bonds in an ultimate version of one of our games. Where would you rather put your money right now? Fast Money Disclaimer

Transcript

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0:00.0

Like in the Nasdaq Market site in the heart of New York City's Times Square, this is

0:05.1

Best Money.

0:06.1

Here's what's on tap tonight.

0:07.9

Consumer crunch from Target to Best Buy, the dollar gen to unain the home furnishing

0:11.3

stock, the damage to these names is sending an ominous warning about the consumer.

0:15.6

Is the market too worried or not worried enough?

0:18.0

Plus, the ultimate game of would you rather will grill the traders and weather over the next

0:21.6

six months?

0:22.6

They prefer to hold treasuries or some of the best to breed big caps.

0:26.2

And later, we'll go inside the major move lower in stocks in Mexico by foot lockers

0:30.6

recent rebound could be for real and how the rising 10 years going to strip many millions

0:35.2

from the next mega millions winner.

0:37.2

I'm also Lee Cummings, you'll ask from Studio B at the Nasdaq on the desk tonight.

0:41.3

Tim Seymour, Karen Feynerman, Bono and Ison and Guy Dami.

0:44.4

We start off with the market slide that left no part of the consumer untouched since hitting

0:49.0

its highs of the year in late July.

0:50.8

The S&B has dropped about 7%.

0:52.8

But some retail focus names have been hit even harder, whether you're looking at grocery

0:56.2

goods, General Mills, Coke, Pepsi, all down 10% or more, or retailers from dollar stores

1:01.5

to big box sellers check out the moves lower, names like Dollar General, Target, Best Buy.

1:06.8

Even higher end brands and restoration hardware to tapestry to Nike all-seeing outsize

1:10.7

losses, one big culprit, higher interest rates, persistent inflation weighing in the consumer,

...

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