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.
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Bank Performance Divergence
- Financial stocks like JPMorgan, Goldman Sachs, and Morgan Stanley declined.
- Smaller M&A-focused banks like Moelis, Evercore, and Lazard experienced steeper drops.
Walmart's Stock Drop
- Walmart's stock dropped 7% after predicting slower profit growth this year.
- This was despite posting strong quarterly results, leading some to believe the guidance was conservative.
Walmart Investment Advice
- If you liked Walmart's story before, you should love it now because it's cheaper.
- The company's operating income is strong despite building a digital business.