CNBC's "Fast Money" Big Tech’s Big Day… And Second Half Energy Playbook 7/5/24
Jul 5, 2024
Tech stocks like Meta, Alphabet, Apple, Microsoft, and Amazon reach all-time highs. Discussion on jobs report impact and Fed's next move. Insights on second-half energy playbook, lumpy price action, and market strategies. Macy's take-private offer, Novo Nordisk shares, and potential deal with Arkhouse Management. Analysis of drug-related eye conditions, semiglutide impact, oil market predictions, EV automaker valuation, and trade strategies.
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Big Tech's Big Day
- Tech stocks, including Meta, Alphabet, Apple, Microsoft, and Amazon, reached all-time high closes.
- Slowing jobs growth seems to reduce investor concerns about the Federal Reserve's actions.
Impact of Jobs Report
- The June jobs report showed slowing payroll growth, rising unemployment, and increased participation rate.
- Wage gains decreased, aligning with Federal Reserve goals and seemingly priced into equity markets.
Goldilocks Economy
- The market appears to be in a "Goldilocks" scenario with growing but slowing economy and inflation moving towards the target.
- This suggests a potential sweet spot without immediate recession.