CNBC's "Fast Money" Stocks Drop After Strong Jobs Report… And Next Move In The Weight Loss Drug Space 1/10/25
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Jan 10, 2025 Investors reacted strongly to an unexpectedly robust jobs report, causing significant market sell-offs. The upcoming inflation data raises concerns about increased volatility. Attention turns to the J.P. Morgan Health Care conference, where the competition in obesity drugs is heating up. Insights into the skyrocketing home insurance premiums reveal a crisis amidst California wildfires. Delta Airlines shows promising earnings while the Supreme Court considers TikTok's fate, highlighting the political impact on the tech landscape.
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Post-Jobs Sell-off
- Stocks sold off after a strong jobs report, raising concerns about the Fed's direction.
- The market drop erased post-election gains, with the Dow falling below its Election Day level.
Market Volatility and the Fed
- This week's market volatility was driven by central bank actions and rising yields.
- The market is digesting the Fed's data-dependent stance and the possibility of delayed rate cuts.
Bank of America's Revised Forecast
- Bank of America revised its forecast, now expecting no rate cuts this year due to strong economic data.
- They suggest the conversation should shift to rate hikes if inflation increases.