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CNBC's "Fast Money"

Three Bad Omens for the Market? And Big Tech and Hollywood Tackle U.S./China Tensions 4/5/23

CNBC's "Fast Money"

CNBC

Business, News, Investing

3.91.3K Ratings

🗓️ 5 April 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Gold is soaring, rates are dropping, and the banks are hitting new lows. Does all this suggest more pain to come for the market? The relationship between Beijing and D.C. taking center stage as lawmakers and execs meet in California. What will come out of the talks and how China could respond. Fast Money Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0

Right now and fast, House Speaker Kevin McCarthy meeting with Taiwan's president of the Reagan

0:05.4

Library, this is other members of Congress meet with entertainment and tech execs.

0:09.3

To talk about US-China relations, we'll break down what kind of blowback could be coming

0:13.4

from Beijing.

0:14.4

Plus, one of our traders is all charged up about a name we rarely mention on the desk.

0:18.8

Maybe we've never mentioned that.

0:20.7

We'll find out what it is and why he thinks this stock could power higher even as it sits

0:25.1

close to all-time highs.

0:26.8

One later, inside the cost cuts at FedEx, Tesla's rough three-day slide and stunt in growth

0:31.7

in some of the tech names.

0:33.0

I'm Melissa Lee.

0:34.0

This is Fast Money Relive with the Nasdaq Market site on the desk tonight.

0:36.5

Karen Feinerman, Dan Nathan, Julie Beale, and Guy Dammy.

0:39.5

And we start off with the three big omens in the market right now.

0:43.5

First, there is gold, the seminal safety trade, prices touching their highest level since

0:48.4

March of last year in early trade, as fears of a recession grow, gold miners add their

0:53.2

highest since May.

0:54.8

And then there's rates dropping across the board with the yield in the 10-year-end,

0:57.9

it's lowest level since September.

0:59.7

The spread against a three-month T-bills, why does it's been in at least 40 years?

1:04.6

And finally, banks continuing their slide lower, the KRE Regional Bank ETF, taking out

1:09.6

its lowest close of the year and now it levels not seen since November 2020.

...

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