CNBC's "Fast Money" Semi Stocks Get Smacked, and Roche Ups the Ante in the Weight Loss Drug Battle 7/17/24
Jul 17, 2024
The podcast discusses the sharp decline in chip stocks due to US-China tensions, Roche's positive weight-loss trial impacting competitors, Fed rate cut caution, United Airlines and Discover Financial's earnings, resource trade future, copper vs gold trends, Roche's drug trial success, and pharmaceutical industry updates.
AI Snips
Chapters
Transcript
Episode notes
Chip Wreck
- Semiconductor stocks like ASML, Taiwan Semi, and Nvidia plummeted, marking the SMH ETF's worst day in four years.
- Political tensions, especially concerning Taiwan, are impacting chip stocks, with Trump's comments adding to the concerns.
Trump's Taiwan Comments and Tech's Future
- Trump's comments about Taiwan during Guy Adami's show significantly impacted the market, signaling bearish sentiment towards technology.
- Despite some believing a Trump presidency is bullish, it could be bearish for the tech sector.
Chips in a Geopolitical Crossfire
- The chip sector faces uncertainty due to Biden's call for tighter export controls and Trump's criticism of Taiwan's chip dominance.
- This creates a challenging situation for companies like ASML and Nvidia, despite continued AI investment.