Expecting from that Earnings Report out tomorrow. Im melissa lee, this is fast money. On the desk tonight, tim seymour, bono win, dan nathan and chrisser is roan we start off with the wild ride on wall street today the dow is down 466 points at its low but finished 160 points up the s p 500 shedding half a percent. The vix mirroring the markets move, hitting 18 for the First Time Since may before pulling back some, still higher, closing above the 16 mark. But one sector stayed under pressure all day, than would be software stocks. The igv closing below its 50day moving average for the first time in more than three months one big drag on the group, data dog, the Cloud Computing company slashing guidance, seeing shares drop 20 thats its worst day since the start of the pandemic. So, did the news pull a pal over the whole a. I. Trade add that into your action, dan that was trouble its less about a. I. And more about a rising tide lifting all boats. When you think of the consumption space
Hitting twoplus year highs. Is there more room for the name to run . One of our traders lays out the case. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight tim see your, courtney garcia, dan nathan, and guy adami. It was oracle and nvidia that caught our eye, both surging and highlighting strength across generations of big tech. Oracles pop after earnings last night bringing gains to 20 . Its not the only veteran in rally mode. Dell, hpe, ibm trading to alltime highs. After a twoday pause, nvidia jumping more than 7 , closing just off its record high. Meta recouping yesterdays losses. So, is this a case of in with the old,in with the new, too . Guy . I like that. Apparently so. And we play this game a lot, but you know, with the move in the bond yields, up to 4. 15, if you told me last night, whats going to happen to these stocks, theyre all going to sell off especially the reversal we saw on friday. Clear that didnt happen. However, to answer your qu
Will have an exclusive conversation with spotify se integrate Ai Technology into its product. Lets get straight to our top stories. Stability ai is confronting executive departures, struggling to raise funds and an accusation it has not paid its bill in time. After breakout success the start of faces mounting risks to its edge in the booming field of generative ai. The reporters who broke that story, they join me now. What were the main takeaways that we learned in the course of our reporting . Rachel we spent several months looking into the story and speaking to people including the person behind and accompany that came out of nowhere. Has the ceo that tends to make loose guided comments about things that have not happened yet and the Company Seems disorganized thought disorganized i would say. Ed what put stability on the map, the Stable Diffusion model, what is that a basic terms . Rachel its an image generation ai model. You type in a few words and it will give you back an image or
Big debts being made either way. Holding steady after a midday auction. Then there is nvidia. Its always notable again. Following the big friday fall. Some key earnings in overtime tonight. We will get you set up for that, too and just a little bit. Investors should prepare for an even bigger momentum meltdown. The self i had of Investment Strategy is here with me. Nice to see you again. You, too. The big question is whether the momentum trade has run out of steam and now we are going to see this rotation. What do you think . If were talking about the momentum trade is the magnificent seven of 2023 and the big tech names that brought us into 2024 then yes, i think it has already run out of steam. I think that ship has sailed. Youre throwing the curtain down already . There was one day for nvidia. Im not done yet. Momentum. If we talk about momentum in the terms of risks appetite momentum, thats so here, alive and well. Everything happening right now may be the precursor to Something El
Have to decide first what changes do we think are appropriate, and that will take a little time. And then the question will be reproposal what i said, when we get to that point, if reproposal is the right time, were not going to hesitate its a perfectly live option in the current environment we have in politics in this country, theres not a lot that you find bipartisan agreement on, but i think you could find some agreement in withdrawing that proposal. Can you explain the importance of broad consensus at the fed on proposals like b3e, among Board Members to proposals i think well get to broad consensus at the fed i think its very important. This has been our culture that we try to find Common Ground and weve been able to do that in the regulatory space, and i expect we will be as well. Im committed to that. Could it be that were seeing this level of disagreement because of extreme measures that are being taken now that may not have been taken in the past. A total difference of opinion