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CNBC's "Fast Money"
Banks Break Down… And Alibaba’s Big Run 2/20/25
Feb 20, 2025
David Zervos, Chief Market Strategist at Jefferies and a CNBC contributor, discusses the significant downturn in major financial stocks like JPMorgan and Goldman Sachs. He dives into the surprising surge of Alibaba, which has skyrocketed over 60% this year due to strong earnings, and its implications for the broader China trade. Zervos also examines the factors driving market trends, including rising gold prices and the impact of retail performances, particularly Walmart's struggles despite solid sales.
43:49
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Quick takeaways
- Major financial institutions like JPMorgan and Goldman Sachs are facing declines due to regulatory uncertainties and slowed M&A activities.
- Alibaba's impressive surge is fueled by renewed investor confidence, strong cash reserves, and growth in its cloud and e-commerce sectors.
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