CNBC's "Fast Money" Stocks Notch Best Week Of 2024… Plus White House Cracks Down On China Trade 9/13/24
Sep 13, 2024
The stock market rebounds, marking its best week of 2024, just ahead of a crucial Fed decision. Tensions rise as the White House targets Chinese discount retailers, impacting U.S.-China trade relations. Uber expands its partnership with Waymo to enhance its robo-taxi services, challenging competitors like Lyft. Gold prices soar, and its resilience shines during market volatility. Insights into the biotech sector reveal promising advancements, with a focus on Summit Therapeutics and its rivalry in oncology.
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Fade Staples
- Carter Braxton Worth suggests fading consumer staples stocks.
- He believes these "defensive sponges" are full and unlikely to outperform further.
Bearish on Oil
- Paul Sankey expresses bearishness on oil due to concerns about weakening demand from China.
- He highlights China's significant contribution to global oil demand growth over the past two decades.
Defensive Oil Play
- Paul Sankey recommends Exxon as a defensive play in the current oil market.
- He cites the company's strong position and the defensive nature of integrated oil companies.