CNBC's "Fast Money" Fast Money 9/28/23
Sep 28, 2023
Podcast discusses challenges and uncertainties for investors, impact of rising mortgage rates on housing market, effects of rising yields on stocks and negotiations with automakers, loss of retail investors, Nike's strong earnings beat and stock analysis, guidance and inventory of Compass and other retailers, analyzing the impact of Workday's lowered outlook, and a conversation with a Wall Street mentalist.
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Housing Market Paradox
- Home prices remain high despite rising mortgage rates due to a supply-demand imbalance.
- Potential sellers are hesitant to trade up to higher rates, exacerbating the inventory shortage.
Impact on Consumer Spending
- Consumer spending is likely to decrease due to rising costs, impacting retail stocks.
- The XRT retail ETF's performance suggests potential trouble for the consumer spending if it falls below a certain level.
Unemployment and Housing
- Housing prices are expected to decline if unemployment rises significantly.
- The Federal Reserve might want higher unemployment to curb inflation, even if they don't explicitly state this.