CNBC's "Fast Money" S&P Inches Toward Record, and Trading the Leaders and Laggards for 2023 12/19/23
Dec 20, 2023
The podcast discusses the ongoing market rally, the potential of Metas as a top pick for 2023, missed expectations impacting stock prices, UBS's top pick for 2024, NVIDIA's potential for growth in 2023, a trading stock falling short of expectations, Micron's performance and options trading, stock market performance, and the private credit outlook for 2024.
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Market Rally Breadth
- The S&P 500 is nearing its all-time high, up about 25% YTD.
- The Russell 2000 shows healthy broadening market participation, reaching its highest level since August 2022.
Investing in Current Market
- Consider small caps, as the Russell 2000 shows strength but bargains may be limited.
- Be cautious chasing rallies in overbought markets, especially given potential Fed adjustments.
Citibank Stock Surge
- Citibank's rapid stock price increase from $38.50 to $51 in a short period indicates a potential market chase.
- This chase may not be sustainable given JP Morgan CEO's prior warning about high Fed funds.