Today’s On The Tape is Presented by CME Group and iConnections

Now Bulls Can’t Leave with Ben Kallo of RW Baird

Topic Timecodes:
On this episode of “On The Tape,” Dan Nathan, Guy Adami and Danny Moses discuss the stock market moving on Fed cut expectations (3:00), what the rally in gold is telling us about the market (14:00), weakness in the Yen (17:00), the Jobs Report (18:00), huge moves in some of the biggest stocks in the market (22:00), the calamity trade (27:30), Janet Yellen visiting China (30:00), Humana (36:00), gambling stocks (35:30), and Tesla (more on that after the break…) (38:00). Later, the guys sit down with Ben Kallo, senior research analyst at Baird, to discuss his bullish outlook on Tesla. Topics they cover include his bearish fresh pick on Tesla (43:00), risks to the stock (45:45), the Cybertruck halo effect (49:45), bracing for a messy quarter (53:45), skepticism around the stock (57:30), searching for the bottom in lithium (58:00), Rivian (59:00), biggest themes in solar (1:01:30), and Albemarle Corporation (1:03:00).

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WHAT WE’RE READING

• Stock Bull Run Powers Ahead After Blockbuster Jobs (Bloomberg)

• Job growth zoomed in March as payrolls jumped by 303,000 and unemployment dropped to 3.8% (CNBC)

• Brisk Hiring Bolsters Fed’s Cautious Stance on Rate Cuts (WSJ)

• Fed caution may be justified if the labor market starts to deteriorate. Here’s why that could happen (CNBC)

• Fed’s Logan Says ‘Much Too Soon’ to Think About Cutting Rates (Bloomberg)

• Fed’s Kashkari Floats Possibility of No Rate Cuts This Year (Bloomberg)

• How Far $100 Goes at the Grocery Store After Five Years of Food Inflation (WSJ)

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