CNBC's "Fast Money" Podcast Summary Episode: Stocks Surge On EU Tariff Delay… And Nvidia Results On Deck
Release Date: May 27, 2025
Host: Melissa Lee
Panelists: Tim Seymour, Dan Nathan, Guy Adami, Karen Finerman, Ben Emmons

1. Market Rebound Overview

Melissa Lee kicked off the episode by highlighting a significant market rebound driven by the U.S. President's decision to delay EU tariffs and robust consumer confidence data.

• Key Movements:
  • S&P 500: Soared over 2%, nearing the 6,000 mark.
  • Dow Jones: Surged by more than 700 points.
  • NASDAQ: Jumped approximately 2.5%.
  • Bitcoin: Rose above $110,000.
  • U.S. Dollar: Experienced a slight increase.

Melissa Lee stated:
"Stocks surged as the president delays EU tariffs and new data suggests the consumer isn't nearly as strapped as feared."
(02:00)

2. EU Tariffs and Consumer Confidence Impact

The delay of the proposed 50% tariffs on the European Union until July 9, as announced by President Trump, played a pivotal role in the market's positive movement. This decision alleviated investor concerns stemming from previous tariff announcements that had previously dampened stock performance.

• Consumer Confidence:
  New data revealed that consumer confidence for May was 12 points above estimates, indicating stronger consumer spending and economic resilience.

Guy Adami provided insights:
"If you get yields continuing to come in, especially with some of the comments from Besson over the weekend, that's encouraging for the market."
(02:31)

3. Market Sentiment and Recession Outlook

The panel delved into the broader economic sentiment, discussing the improbability of an imminent recession despite historical patterns suggesting otherwise.

• Historical Context:
  Dan Nathan compared the current situation to past recessions, noting,
  "Recessions don't really matter. If we go all the way back to 2009, after the financial crisis, we didn't have a recession. Covid didn't cause one either."
  (08:51)

• Interest Rates:
  With the Fed funds rate at 4.5%, a significant increase from the near-zero rates post-2008, the panel debated its implications on the economy and market stability.

Tim Seymour emphasized:
"The people have been positioned so defensively and I think mostly the professional community. There's no question that there are economic uncertainties and there's most likely not going to be an economic fallout for the next three to six months."
(07:01)

4. Nvidia Earnings Preview

A significant focus was placed on Nvidia's upcoming earnings report, scheduled for the following day.

• Anticipated Challenges:
  Nvidia had previously warned of a potential $5.5 billion charge due to export controls affecting their H20 chip sales to China. The panel discussed whether these challenges would impact Nvidia's future guidance and stock performance.

Karen Finerman noted:
"If you get to a stance here between China and the US and Europe and the US, there's no reason why markets couldn't go higher."
(10:19)

5. Novo Nordisk Surge and Technical Analysis

Shares of Novo Nordisk experienced a 4.5% increase, reaching two-month highs, buoyed by the delay in EU tariffs and positive technical indicators.

• Technical Indicators:
  Guy Adami observed:
  "Nothing can change in this stock in terms of fundamentals. You could retrace the levels we saw probably late last year. This reminds me a little bit of Boeing, where the bad news is priced in, and you have these stealth rallies."
  (38:32)

• Market Position:
  Tim Seymour expressed confidence in the stock, stating,
  "I'm long the stock and I got long in the last few days. I like it."
  (39:05)

6. Pinduoduo (PDD) Earnings and Business Model Issues

Shares of PDD, the parent company of Temu, plummeted nearly 14% after disappointing first-quarter results. The company cited trade tensions between the U.S. and China and the closure of the de minimis loophole as significant challenges.

• Business Model Concerns:
  Dan Nathan critiqued PDD's strategy:
  "The business model really was meant to sell cheap crap to the US and EU. Many of their sales come from outside China, and they have to work outside of China to succeed."
  (24:02)

• Operational Challenges:
  Karen Finerman added:
  "The de minimis tax removal is more impactful than the actual overall tariff rate."
  (24:57)

7. Bitcoin Trends and Bitcoin 2025 Conference

Bitcoin approached record highs, buoyed by institutional interest and favorable regulatory shifts. The Bitcoin 2025 Conference in Las Vegas highlighted significant endorsements from key political figures.

• Conference Highlights:
  MacKenzie Segala reported:
  "Don and Eric Trump, crypto czar David Sachs, and Vice President J.D. Vance are all here touting digital assets as strategic for the US economy."
  (28:15)

• Ethics and Regulation:
  Concerns were raised regarding the ethical implications of heavily Trump-associated crypto projects, such as stablecoins benefiting his businesses.

Dan Nathan commented on Bitcoin's volatility:
"If you think it's riskless buying at an all-time high at $110,000... usually when it gets to these levels it has a little problem with some resistance."
(32:29)

8. New York Liberty Investment Deal

Defending WNBA champions, the New York Liberty, received a significant investment led by Alibaba co-founder Jack Ma, alongside Karen Finerman, supermodel Carly Kloss, and other notable figures. The infusion valued the franchise at $450 million, marking a record for women's sports teams.

• Growth Prospects:
  Karen Finerman emphasized the rising popularity of women's sports:
  "Ticket sales up 66%, attendance up, sponsorships and viewership up 130% year-over-year growth."
  (40:33)

• Future Valuation:
  Clara Wu Tsai anticipates the Liberty reaching a $1 billion valuation by 2030, reflecting the rapid growth and investment in women's sports.

Tim Seymour inquired about media impacts:
"How do you impute the television audience for their national championship game into the financial space in your pitchbook?"
(42:35)

Notable Quotes with Timestamps

• Guy Adami (02:31):
  "If you get yields continuing to come in, especially with some of the comments from Besson over the weekend, that's encouraging for the market."

• Dan Nathan (04:59):
  "I wasn't in your grill where you said the worst of the narrative."

• Karen Finerman (24:57):
  "The de minimis tax removal is more impactful than the actual overall tariff rate."

• Ben Emmons (11:22):
  "I think it will because one is a good technical picture that's changed... if we do get to a stance here between China and the US and Europe and the US... then there's no reason why markets couldn't go higher."

• Tim Seymour (07:01):
  "There's no question that there are economic uncertainties and there's most likely not going to be an economic fallout for the next three to six months."

Conclusion

The episode of CNBC's "Fast Money" provided a comprehensive analysis of the current market dynamics influenced by geopolitical decisions and economic indicators. The delay in EU tariffs and strong consumer confidence data propelled a significant market rebound. Despite historical patterns suggesting potential recessions, the panelists expressed optimism based on current economic resilience and strategic corporate performances. Upcoming events, such as Nvidia's earnings report and the Bitcoin 2025 Conference, were highlighted as critical indicators to watch. Additionally, the strategic investment in the New York Liberty underscored the growing intersection between sports and financial markets.

For those not tuned into the episode, this summary encapsulates the essential discussions and insights shared by industry experts, offering a clear picture of the financial landscape as of late May 2025.