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CNBC's "Fast Money"

Fast Money 05/07/20

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.31.2K Ratings

🗓️ 7 May 2020

⏱️ 46 minutes

🧾️ Download transcript

Summary

Listen To Our Traders Take You Behind the Money...How To Play the Volatility...Pops and Drops: The Movers You Missed.

Transcript

Click on a timestamp to play from that location

0:00.0

Fast money starts right now. I'm Melissa Lee. Tonight's trader

0:04.0

lineup Guy Dami, Tim Seymour, Karen Finerman, and Dan Nathan coming up on

0:07.4

Fast Uber making a giant U-turn in the after hours with the company's

0:11.1

CEO just said on the call that's got the stock moving higher

0:14.2

plus break out your rally caps when top technicians has a major low is in the

0:18.6

market how he's betting on a breakout and later the one man who just sent a giant shockwave through the entire a But first we begin with the trip back to the future for the markets.

0:34.6

Let's take a look at this one year chart of the S&P 500 flag by our own Dan Nathan.

0:38.5

A year ago today it was trading just under 2,900 today.

0:42.4

Basically back to that exact level.

0:44.2

So let's fire up that flux capacitor and set the coordinates to one year ago today to see what

0:48.7

life looked like.

0:50.2

And wow, the world has changed this time last year.

0:52.7

The S&P 500 was trading at 17 times forward PE.

0:56.1

The tenure note was yielding around 2.5%.

0:58.5

Unemployment was just over 3.5%.

1:01.5

And GDP was sitting around 2%. Now flash forward to today, the S&P 500 is now trading

1:07.1

around 20 times forward PE. The 10-year yield 0.64%. Unemployment is projected to hit 16% and GDP is negative for the first time in

1:18.8

over a decade. The world has been turned upside down but the market doesn't seem to care.

1:25.0

So if you're an investor, should you make like a tree and get out of here?

1:29.0

Guy, I'm told that that is a funny line from the movie.

1:35.0

You've never seen the movie?

1:38.0

I saw it.

...

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