CNBC's "Fast Money" Why is wall street so calm in a seemingly world of crisis? 10/9/23
Oct 9, 2023
The podcast discusses the calmness of the markets amidst global crisis, analyzes the impact of Nelson Peltz's stake in Disney, explores unemployment and seasonal factors, and highlights Bristol Myers' acquisition of Murati Therapeutics.
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Market Calm Amidst Crisis
- Markets are surprisingly calm amidst global crises, possibly due to the belief that interest rates will fall.
- This belief is supported by the Fed's seemingly dovish stance and the 4,200 support level holding for the S&P.
Friday's Intraday Reversal
- Friday's intraday reversal, where yields dropped and stocks rebounded, was more significant than the weekend's events.
- This suggests that the market was already setting the stage for a potential rally, even before the geopolitical tensions escalated.
Stock Picking Strategy
- If buying stocks now, be optimistic about the economy and re-expanding margins.
- Consider individual stocks like Pepsi, which has experienced significant multiple compression, rather than just buying the index.