CNBC's "Fast Money" Mag7 Meltdown To Kick Off 2025… And Mortgage Demand Drops 1/2/25
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Jan 2, 2025 The new year kicks off with the Magnificent Seven experiencing a meltdown, led by Apple’s sharp decline. This raises questions about the stock market's trajectory for 2025. Meanwhile, mortgage demand plummets, leaving buyers cautious and impacting homebuilder stocks. The podcast also delves into Tesla's delivery challenges, the competitive landscape of Boeing, and Nike's struggling sales forecasts. Key trends in the housing market and investment opportunities are discussed, highlighting how evolving economic conditions could shape strategies moving forward.
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Magnificent Seven Meltdown
- Apple's stock experienced its biggest loss since October, shedding $100 billion in market value.
- This weakness dragged down the broader market on the first trading day of 2025.
Apple's Decline
- Apple's stock decline is primarily due to its price and disappointment regarding AI integration.
- There are also concerns about competition in China and new phone sales.
AI's Influence and Energy's Rise
- AI was a primary market driver in the past year, raising questions about its continued influence.
- Courtney Garcia suggests that while AI's impact will continue, easy money has likely been made, and related sectors like energy will benefit.