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CNBC's "Fast Money"

The Most Important Chart in the Market, and Who Will Win the AI Race? 12/7/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 7 December 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Stocks rebounded ahead of tomorrow’s jobs report and in advance of more key catalysts next week. So we asked the traders what they think is the most important thing to be watching for the markets. Plus Alphabet and AMD rallied the day after two big AI product launches. But who will win the AI race? Top tech analyst Ben Reitzes weighs in. Fast Money Disclaimer

Transcript

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0:00.0

Live in the NASDAQ market site in the heart of New York City's Times Square.

0:05.2

This is Fast Money. Here's what's on tap tonight. From cues to crew to credit and beyond.

0:10.0

The traders set to reveal the most important chart they are watching as we count down to the end of the year and look ahead to 2024

0:16.3

Plus taking flight airlines roaring higher the jet CTF up nearly 20% in the past month

0:21.7

We'll see what the options action is saying about the next move

0:24.4

from here.

0:25.4

And later, dialing up new highs of T-Mobile, getting behind the gains at Walgreens, and why a couple

0:30.4

of AI laggards are catching a bid right now. I'm Melissa Lee coming to you live

0:34.4

from Studio B at the Nasak on the desk tonight. Tim Seymour, Dan Nathan, Guyadami, and

0:38.7

Mike Coe. We start off with a rebound on Wall Street with the Nasak popping nearly 1.4 percent, the

0:43.8

Tech Heavy index climbing back into positive territory for the week and looking to

0:47.5

close out six straight weeks in the green. The S&P and Dow also up today both

0:51.8

breaking three-day long losing streaks.

0:54.0

All this as investors turn to a trio of key events in the coming days.

0:58.0

Tomorrow's jobs report, Tuesday's CPI print, and of course the last Fed decision of the year coming in less than a week.

1:04.3

So with all these potential catalysts looming over the market we wondered what our

1:08.6

traders think is the most important chart right, a lot of pressure here.

1:14.0

Guy I want you to kick it off.

1:16.0

It's always pressure on Michelle Melissa Lee.

1:19.0

I think it's a bank, so if you go into the premise that our economy is driven by people buying things right people having jobs people buying things people buy things on credit well bank credit has been contracting now for the last couple years and it started to move in a pretty noticeable way.

1:34.0

So I think that's concerning, especially when you couple that with the fact and we're going to

1:38.0

know about this within a few hours, this unemployment rate that I think is going to start ticking

...

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