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CNBC's "Fast Money"

The Real Impact of Rising Rates, and Is Apple About to Break Down? 11/3/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 3 November 2022

⏱️ 39 minutes

🧾️ Download transcript

Summary

Interest rates spiked again, the day after the Fed’s latest move, and borrowing costs are already seeing big jumps. What it means for the markets and for companies trying to manage their corporate debt. Plus the Chart Master is drilling into his Apple call. Why he thinks shares are ready to end their long reign of outperformance. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

Right now in fast, great shop. The day after the feds laid us moved yields are climbing

0:05.6

and interest rates for everything, for mortgages to car loans to corporate debt, a

0:09.2

rocketing hire. So how hard is this rapid rise for consumers and businesses to handle?

0:13.2

We'll dig into that. Plus, unlucky seven and a bruised apple, Amazon's losing streak

0:17.6

now at seven days. The commerce giant down more than 20 percent during the slide in

0:22.0

Apple getting hit again. The chart master is here to tell us why he thinks the iPhone

0:26.0

maker is going to keep pushing lower. And later, a lengthy size flood of earnings action,

0:31.0

Starbucks, Amgen, Block Paypal and more. All reporting after the bell will go inside the

0:35.4

numbers and the guidance straight ahead. I'm Melissa Lee. This is fast money. We're live

0:39.0

with the Nasak Marketside, a full house here on the desk tonight. Tim Seymour, Steve Grasso,

0:42.8

Guy Dommie and the chart master himself with his very large keyboard, Carter Bradford,

0:47.2

New York. He has a large keyboard. This is I'm speaking literally. All right, good night.

0:51.8

All right. We start off with another spike hire and interest rates to yield onto your

0:55.6

treasuries, jumping to more than 4.7 percent for the first time since July 2007. The tenure

1:01.9

also climbing hitting nearly four and a quarter percent at his highs. The moves coming after

1:06.4

the Fed raised interest rates, target rate, another 75 basis points and suggested it might not stop

1:12.0

anytime soon. Higher rates have already had a huge impact on consumers borrowing costs.

1:16.4

Since the central bank's first started high key in March, the rate on a $30,000 home equity

1:21.2

Atlantic credit has risen by 300 basis points. 30 or fixed rate mortgages have climbed to more than

1:26.4

7 percent. Credit card rates and APRs and autos have also climbed. Meantime, the S&P 500 has dropped

1:32.6

by more than 10 percent. So how will this all change? How companies operate in this environment?

1:37.7

What will it mean for their stocks? Guy, what do you think? Margin's number one. I mean, it hurts

...

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