CNBC's "Fast Money" Fast Money 9/18/25
Sep 18, 2025
Traders dive into market risks, spotlighting David Tepper's caution on valuations and the significance of small caps. The impact of NVIDIA's $5B investment in Intel sends ripples through the chipmaker sector. FedEx impresses with a revenue outlook boost and plans for a freight spinoff. Discussions also include Comcast's decision to spin off Versant and the implications for revenue trends. The panel wraps up with insights on media implications from Jimmy Kimmel's suspension and a mixed quarter from Lennar amid housing affordability concerns.
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Broad Rally Masks Yield Risks
- The market rallied broadly after the Fed cut, but rising yields complicate the picture for sustained gains.
- Small caps leading suggests a potential economic 'all-clear' signal rather than just a Fed-driven pop.
Caution On Small-Cap Euphoria
- Lori Calvasina warns valuations are high and small-cap gains may be short-lived without fundamental improvement.
- She expects a period of digestion and limited room for small-cap valuation expansion.
Small Caps As Economic Barometer
- Small caps act as a macro barometer; their breakout gives investors confidence the economy is holding up.
- A broadening rally across cyclical names suggests optimism beyond just mega-cap leadership.