CNBC's "Fast Money" Meta Scrapping Moderation.. And Charting Rotation Opportunities 1/7/25
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Jan 7, 2025 Meta is shaking things up by scrapping its third-party fact-checking program, pushing towards a more 'X' style platform, sparking debates about user reactions. Meanwhile, Katie Stockton spotlights new opportunities in underperforming sectors as a market rotation begins. The tech landscape is shifting, with focus on AI advancements and the implications of rising interest rates. The conversation also touches on the evolving strategies of companies like McDonald's in responding to budget-conscious consumers amid growing competition.
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Market Sell-Off
- Markets sold off late in the day, with the Nasdaq down nearly 2%.
- NVIDIA dropped after hitting a record high earlier, and yields spiked.
NVIDIA's AI Focus
- NVIDIA CEO Jensen Huang emphasized the importance of AI in data centers and all systems.
- He believes general-purpose computing and hand-coding are obsolete.
NVIDIA's Stock Setback
- NVIDIA experienced an "outside down day," a short-term setback, with high volume.
- Support is around 134, resistance at 150, and upside momentum has been declining since summer 2023.