CNBC's "Fast Money" Fast Money 9/24/25
Sep 24, 2025
David Zervos, Chief Market Strategist at Jefferies, shares his insights on the current macroeconomic landscape and Fed policy. He emphasizes a bullish outlook despite valuation concerns expressed by Fed Chair Powell. The discussion also dives into AI's transformative effects on jobs and monetary policy. Additionally, there’s an intriguing exploration of market volatility, particularly regarding Intel’s financial strategies and Alibaba's ambitious AI plans. Zervos maps out how evolving policies could shape growth expectations, all while considering the auto sector's resilience.
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Episode notes
Rescue Squad Narrative Fuels Intel Rally
- Multiple strategic investors (NVIDIA, SoftBank, Treasury) create a “rescue squad” narrative for Intel rather than fixing its core foundry problems.
- Market optimism is driven more by financing and narrative than by immediate manufacturing fundamentals.
Big Cap, Big Skepticism
- Intel is widely disliked by many Wall Street analysts despite its large market cap, creating a strange valuation dynamic.
- Strategic and political reasons may be driving investments more than conviction in Intel's tech roadmap.
Trim Into Momentum, Set Sell Rules
- Take profits after big momentum moves and trim positions as narratives get stretched.
- Set clear sell rules (e.g., trim 25% now, 25% at retrace to 35) and liquidate if the thesis breaks.