CNBC's "Fast Money" Nvidia Still A Buy?... And Boeing’s Latest Black Eye 5/23/24
May 23, 2024
Nvidia's stock surge post earnings and stock split, Boeing facing cash burn issues. Discussions on market movements, economic indicators, SEC approval of ETFs tied to Ether, healthcare stock performances, and ASCO abstracts impact on cancer drug stocks. Insights on investment challenges in biotech, real estate fund challenges, Elf Beauty's financial success, and DOJ actions against Ticket Master.
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Market Divide
- Nvidia's strong earnings weren't enough to boost the broader market.
- The market's focus shifted back to the Fed due to better-than-expected economic data and PMI numbers.
Fed Focus
- The Fed remains the most important market dynamic.
- Strong economic data, including services PMI and jobless claims, reinforces the likelihood of the Fed maintaining higher rates for longer.
Potential June Sell-off
- The market may experience a sell-off in late June due to several factors.
- These include a potential 'sell-the-news' event with Nvidia and upcoming blackout periods for the Fed and buybacks.