The Nasdaq’s Best Run Since 2021 and Why the Energy Sector is Ripe for Some M&A 11/7/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 7 November 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Nasdaq extended its win streak to 8 straight days, its longest win streak in over two years. The S&P and Dow are also riding week-plus long runs. But what names are leading the gains and will the momentum continue. Plus oil prices falling below $80 a barrel and dropping to more than two-month lows. What it means for the energy stocks, and could consolidation be the key for the space. Fast Money Disclaimer

Transcript

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0:00.0	Morgan indeed it does and thank you very much live from the
0:03.4	NASDAQ market site in the heart of New York City's time square this is
0:06.7	fast money and here's what's on tap today
0:09.3	crude crumbled wti dropping nearly 4% back below 80 bucks a barrel. Is this move a warning sign
0:15.9	about a coming global slowdown? We will debate that one. Plus travel confusion. Expedia, trip advisor roaring higher while the airlines are in a holding pattern.
0:28.0	What's behind this booking bifurcation?
0:30.0	That's a phrase right there.
0:32.0	You'll take that one home.
0:33.0	And later, inside Rivians' results.
0:35.0	We're going to break down the EV trade what Robin Hood's numbers are saying about the retail investor
0:40.0	and Disney on deck you just saw, go be on tomorrow the options action ahead of
0:45.6	their earnings. I'm Tyler Matheson in for Melissa Lee coming to you live from
0:50.0	Studio B at the NASDAQ on the desk tonight. Tim Seymour, Karen Feinerman, Dan Nathan, and Steve Grosso. Welcome to all of you and we're glad you're here.
0:58.4	We're going to get to the drop-in oil later this hour, but first a market move we hadn't seen in two years the
1:04.4	NASDAQ rising another percent today bringing its wind streak now to eight days
1:09.7	in a row that is the longest since November of 2021 the S&P and Dow now each
1:16.2	posting seven-day runs of their own those two indexes now within 5% of their
1:21.8	highs for the year almost erasing that summer swoon.
1:25.9	Let's check out the moves in the mega caps today.
1:27.9	Amazon, highest closed since September.
1:30.4	Microsoft, record, Apple, Meta, Alphabet, all higher as well.
1:35.0	Meanwhile, the equal-weighted S&P far underperforming the benchmark again.
	...

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