Retail Sales Surge, China's Surprise Rate Cut, Fitch Warns On Banks 8/15/23
Squawk on the Street
English - August 15, 2023 14:56 - 43 minutes - 39.5 MB - ★★★★ - 489 ratingsBusiness News News Business Investing Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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Carl Quintanilla, David Faber and Jim Cramer discussed stocks under pressure after China's central bank announced a surprise rate cut, in wake of disappointing economic data in that country. Jim explained why investors should focus on the "good ole USA" instead of China's economy. Fed rate fears also weighed on the markets after government retail sales data for July beat expectations. Home Depot's quarterly results also exceeded consensus estimates. Also in focus: Fitch told CNBC it may be forced to downgrade banks, Warren Buffett's Berkshire Hathaway bets on homebuilders, the Nvidia rally, a provocative Financial Times headline about Cramer.