The Fed’s Latest Cut…. Plus Super Micro’s Red Flags 11/7/24

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 7 November 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Central Bank cutting interest rates by a quarter point, as the Fed’s easing policy unfolds. What the move means for mortgages, credit cards, auto loans, and more. Plus Super Micro still reeling after its accounting and filing woes. But were the red flags hiding in plain sight? How the warning signs started emerging, and how AI helped raise the alarm bells.. Fast Money Disclaimer

Transcript

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0:00.0	Live from the NASAC market site in the heart of New York City's Times Square, this is fast money.
0:07.0	Here's what's on tap tonight.
0:08.0	Record closes for the NASAC and S&P, the Dow dipping ever so slightly into the red as a Fed cuts rates by a quarter point.
0:14.5	And the central bank chief says he is staying put in the next administration.
0:18.0	We'll dive into what that means for policy in the months and years to come.
0:21.6	And AI auditing will talk to the CEO of a company that's used the technology to flag accounting issues
0:26.7	at Super Micro and other companies, where she's seeing signs of trouble now.
0:31.5	Plus, Nvidia preps to enter the Dow, Zillow shares get a renovation after earnings,
0:35.9	and the post earnings moves on Rivian,
0:37.6	Affirm, Capri, and more.
0:39.3	I'm Melissa Lee coming to you live from Studio B at the NASAC on the desk tonight.
0:42.3	Karen Feinerman, Dan Nathan, Guy Adami, and Michael Contopoulos, director of fixed income at
0:46.5	Richard Bernstein Advisors.
0:48.5	We start off with another record day on Wall Street, the NASAC, and the S&P 500, closing
0:52.7	at all-time highs. Well, the Dow closed just in the red after hitting an intraday record during the session.
0:57.7	That, as the Fed announced a quarter-point rate cut at its latest meeting, and Chair Jay Powell addressed his future in a second Trump administration.
1:05.2	CNBC Steve Leasman's got the very latest.
1:07.5	Hey, Steve.
1:09.2	Hey, Melissa, yeah, the Fed cut rates by a quarter point down to 463 and suggested more to come
1:14.4	gradually. Chair J. Powell tried to present a status quo policy outlook as if nothing had changed.
1:19.7	Well, even while much has changed. For one, he had to respond to the question about whether
1:23.8	President-elect Trump could fire him.
	...

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