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CNBC's "Fast Money"

Why the Dollar’s Drop May Be the Market’s Big Headwind in the New Year 12/14/23

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 14 December 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Stocks managed to hold onto gains for a second day, with the Dow notching another record at the close. But with the dollar continuing its drop, can the rally hold on in the new year? Plus the big bank indexes have fully erased their losses from the collapse of SVB. So is it all clear ahead for financials? Former FDIC chair Sheila Bair weights 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, this is fast money.

0:05.7

Here's what's on tap tonight.

0:07.4

The tenure dropping below 4% for the first time since July, the dollar hitting levels not seen since August should investors fear these

0:14.0

drops or cheer them but go inside the numbers plus bank bonanza the brokers

0:18.7

regionals and money center names all

0:23.4

and you won't believe this but they've just erased all their post-S-VB losses.

0:27.8

Is there still time to bet on the banks and later we'll break down the

0:31.0

December to remember for the housing trade.

0:33.6

Take a look at today's monster move in Moderna and find out why Footlocker has some serious

0:38.5

peep in its step.

0:39.7

I'm Melissa Lee, coming to a lot from studio be at the Nazac on the Destinite.

0:43.4

Steve Grosso, Karen Fireman, Dan Nathan, and Chris Varone from Stetagus A Baird Company.

0:48.3

We start off with the pivot party rolling on on Wall Street, the Dow hitting another all-time high during the session ending the day

0:54.3

with a record close.

0:55.5

The S&P and Nasak also eking out gains, though the major indices all closed well

0:59.5

off their highs of the day.

1:01.0

The big winner just might be the small cap Russell 2000 which jumped nearly 3%

1:05.4

touched its highest level since August of last year but the real story of the

1:09.2

market may lie not with the stock rally but with dollars drop. The Dixie falling another

1:13.7

percent today to hit its lowest level since July. It is now down more than 5%

1:19.1

from its October highs. So what did this dollar decline say about the markets and the economy?

1:24.3

Of course you brought this up on our midday call. We thought it was really interesting.

...

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