CNBC's "Fast Money" Countdown To Tomorrow’s Jobs Report… And Auto Stocks On The Move 9/5/24
Sep 5, 2024
Investors are eagerly anticipating a pivotal jobs report and its potential implications for the economy and Federal Reserve rate movements. Auto stocks are also making waves, with Stellantis, Ford, and GM in the spotlight as analysts reconsider their outlooks. The conversation touches on recent fluctuations in technology stocks, national security concerns surrounding U.S. Steel, and the rise of women’s professional sports, alongside intriguing discussions on luxury brand challenges and investment insights across various sectors.
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Market and Fed Reaction to Bad News
- Bad news for the market might signal a need for larger rate cuts, impacting Fed policy.
- A 50-basis point cut versus 25 points is now viewed negatively due to economic concerns.
Market Preference on Rate Cuts
- The market prefers a 25-basis point cut over a 50-basis point cut due to economic concerns.
- While some see a 40% chance of a 50-point cut, this is unwanted by the market.
Shifting Expectations for Rate Cuts
- Karen Finerman shifts from predicting a 25-basis point cut to a 50-point cut due to employment data.
- She believes focusing on employment and potentially cutting 50 basis points is better than not acting.