Watch Apple Shares After This Bold Call And An Airline Stock That Is Trading At A Level Not Since May 2020 - Free Websites, Share News And Posts Publicly

WED, MAY 10, 2023

Tomorrow’s Top CNBC Stories Tonight

Short-term bonds

The 1-month U.S. Treasury bill is offering investors 5.5%.
The 2-month is offering 4.9%.
The 3-month is offering 5.2%.
The 6-month is offering 5.1%.
They’re off their immediate highs, but all are near 20-year highs.
“Fast Money” trader Karen Finerman made the point on tonight’s show that even in the worst-case scenario, where there’s a U.S. default, the government will issue IOUs and pay when it can, likely giving investors the same high rates that they invested in, in the first place.
Also on “Fast Money,” the man who makes the decision to downgrade the U.S. debt, William Foster of Moody’s Investors Service, said, “We certainly expect the U.S. government to continue to honor its debt, we don’t expect an interest payment to be missed, that’s our base case.”
“We think a deal will get done and the x-date won’t be crossed and the Treasury will continue to pay its debt on time and in full,” Foster said.

Big Apple call on “Fast Money”

Steve Grasso said Apple stock will surpass the $200 a share level “shortly.”
For some context, Apple shares closed Wednesday at $173.56, just $2.59 from its 52-week high of $176.15 set last summer.
The stock is now up 33.6% in 2023.

3M’s big drop

This stock is now at lows not seen since January 2013 – that was a long time ago.
3M shares breached the $100-mark in trading Wednesday, dipping as low as $99.60, but closed at $100.90.
In October 2017, shares were at $235.
MMM is down 16% in 2023 and is down 32% in 12 months.

Southwest’s stock in descent

This airline stock hit lows not seen since May 2020 today, just a few months into the Covid crisis.
Southwest is down 13% in 2023 and down 34% in 12 months.
Compare that with United, which is up 20% in 2023, American, which is up 13% in 2023, and JetBlue, which is up 7% in 2023.
On the other side of the spectrum, Hawaiian Holdings is down 22% so far this year, and Spirit Airlines is down 20% year to date.