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CNBC's "Fast Money"

The Latest Fed Decision… And Starbucks Gets Roasted 5/1/24

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 1 May 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Stocks losing steam late in the day after the central bank leaves rates unchanged. What Jerome Powell is saying about the Fed’s next rate move. Plus Grinding into Starbucks. The coffee store chain sinking after reporting, as the company slashes its forecast. What the CEO had to say about the results, and if analysts are still sipping on the stock. Fast Money Disclaimer

Transcript

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0:00.0

Live from the NASDAQ Market site in the heart of New York City's Times Square,

0:05.7

this is fast money. Here's what's on top tonight. The Fed bounce and bobble.

0:10.0

Stocks initially jumping after the Central Bank Chair said a rate hike was unlikely to be its next move

0:15.3

but the rally losing steam into the close what sparked that pullback and is this just a sign

0:19.6

that the volatility is not behind us plus Plus sinking Starbucks, the stock falling nearly 18%

0:25.6

at the lows of the day, the CEO getting to a very testy exchange with

0:29.1

Kramer this morning. Is there any reason to still be bullish on this stock?

0:32.8

We'll talk with one analyst who's holding on to their buy rating.

0:36.0

And later, Pfizer shares catch a bid after earnings,

0:38.3

New York Community Banks surprises investors

0:40.4

with a clear path to profitability

0:42.4

and big moves from Qualcomm and

0:43.8

Zillow in the after hours for breaking down all the results. I'm Melissa Lee

0:47.4

coming to you live from studio be at the Nasak on the desk tonight. Tim

0:50.0

Seymour Karen Finner and Steve G, and Michael Kontopoulos,

0:53.1

Director of Fixed Income at Richard Bernstein Advisors.

0:55.6

Welcome, Michael.

0:57.0

And we start off with that boomerang action in stocks

0:59.4

after the Fed news conference.

1:00.7

The S&P initially soaring more than a percent but pulling

1:03.4

back sharply in the last hour of trading to close in the red. The NASDAQ had been

1:07.7

up nearly 2 percent at the highs also finished lower.

...

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