CNBC's "Fast Money" The Greenlight To Exit Tech… And Pfizer’s Obesity Hopes 7/11/24
Jul 11, 2024
Yields drop, signaling rate cut possibility. Pfizer enters weight loss drug battle. Market analysis suggests rotating into laggards. Impact of Democratic ticket change on down-ballot elections and market. Biotech stocks rebound as consumer goods sector struggles. Mets performance and stock potential of Pfizer discussed.
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Rotation from Tech and Obesity Stocks
- Investors are considering exiting crowded tech and obesity stocks due to falling rates.
- Mega-cap tech stocks didn't rise with the drop in rates, signaling a potential shift.
Big Tech Vulnerability
- The magnitude of the S&P reversal suggests a potential broader market sell-off.
- Big tech names are vulnerable, and technicals support a possible sell-off.
Pre-Earnings Strategy
- Take some profits from hot trades and rotate into laggards before earnings season.
- This strategy allows for better entry points later on if the market softens.