The market rewinding as the fed rate cut hopes are dampened. Wall street is getting more bearish as Morgan Stanley says to sell stocks now euro banks are in turmoil as Deutsche Bank takes measures to restructure. Did it come too far too fast, and are we about to see a stock rewind guy . Number one karens back, youre everybodys back now gangs all here all here. And the matching outfit matchymatchy cute. Whats wrong, dan i havent seen you in a month and youre already discounting me no, im loving the Syracuse Orange way to represent, people listen, i think stocks have gone too far, too fast, absolutely i thought that, you know, probably 250, 200 dow points ago, maybe 75 s p handles to go. With that said, you know, the Morgan Stanley, thrive beentive. I think theyre going to be right. The thing on the list that concerns me the most believe it or not is Deutsche Bank and european banks in general. I do think the markets banking way too much on the Federal Reserve that is now people think th
Have a close working relationship we had a productive meeting at the last g20 i look forward to this one will we see a deal by the end of this year i cant speculate on that im hopeful but there needs to be the right efforts in place. This is not a deal for the sake of having a deal we were about 90 of the way there. Hell see what we get. One thing on the minds of a lot of folks in the persian gulf area is the potential for that International Coalition in terms of protecting shipping lanes in the persian gulf and the strait of hormuz. I caught up with brian hook over the weekend, he suggested the possibility of this. What kind of conversation are you anticipating when you come to the g20 on this specifically . Will we see monetary contribution can we expect to see their ships in the persian gulf . Will be discussions this is an important issue not just to the region but to the world and to china where they depend on energy. The u. S. Is a large exporter of energy now we will continue to
On the money starts right now. Announcer this is on the money, your money, your life, your future. Now becky quick. We begin with a familiar sight, your face, and now not only can you easily recognize it, tech giants like amazon are getting more sophisticated in recognizing it as well but where should the lines be drawn when it comes to facial Recognition Software amazon shareholders are the latest group to protest its use. Facing pressure it is this weeks cover story at a recent meeting of amazon shareholders among the most closely watched issues debated, amazons use of facial Recognition Technology this is a demonstration of how the tool works shareholders voted against both proposals on the companys recognition program. One would have prohibited the company from selling its Recognition Software to Government Agencies and another would have led to an independent review of the program. Reaction was mixed we certainly support the folks who are pushing forward the two proposals on the r
Mim im melissa lee, this is fast money. Everyone here inhouse we start with the potential warning signs of the market. Major indices with solid gains the do w adding 400 . The nasdaq, not far behind but not everyone came along for the ride check out apple, pulling back more than a percent and a half today. The worlds Biggest Tech Company is now more than 9 off its alltime high hit in midjuly. Thats not all microsoft managed a gain today, but down 10 from its record high last month. So, is this cause for concern or a sign that the rally has actually broadened out, that we can move beyond just these two, you know, generals, dan . Yeah, so, when you think about the moves that the two of them have, okay, technically, they have broken the uptrend in place for most of this year. Thats important in a market where people dont really care much about valuation if you think about how far microsoft and apple have come, they make up 14 of the s p 500, two of the stocks together if you look at the r
Rink. Rivian revved up after its big reveal. Tim seymour, dan nathan and guy adami with us. President biden expected to announce a slew of policy proposals on the agenda, a call to increase the minimum Corporate Tax rate to 28 and the rate and taxes on buybacks and crackdown on junk fees from credit cards to airline and shrinkflation. A proposed 10,000 tax credit for firsttime home buyers in an attempt to boost the Housing Market. Could that actually heat up that market . Lets bring in diana olick diving into this one. Diana . Melissa, Housing Affordability is still near a record low. Just 38 of both new and existing homes sold in the Fourth Quarter of last year were affordable to families earning the Median Income which is the 96,300. Home prices in january also hit another record high and showed the biggest annual gain in a year, so the Biden Administration is unveiling a plan to tackle Home Affordability and first theyre urging congress to pass a 10,000 firsttime home buyer tax cred