Nasdaq Hits Record After Soft Jobs Report… And The Fed’s Next Move After Jobs Report 10/2/26
Summary
Fast Money debates whether Nvidia’s record high and semiconductor strength signal a broader AI rally or a defensive trade amid rising yields. The panel analyzes a "memory meltdown" in hard drive stocks, arguing that supply constraints protect Western Digital and Seagate from reported capacity increases. Nike hits a 13-year low on weak guidance, while Tesla surges on better-than-expected Q3 deliveries. A guest argues the Fed may still hike rates by 100 basis points despite soft jobs data, and biotech is highlighted as a sector less sensitive to interest rate changes.
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