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Squawk on the Street

2025 Playbook, "Magnificent 7" Momentum, Tesla Slides on Deliveries 1/2/25

Squawk on the Street

CNBC

News, Investing, Business

4.1567 Ratings

🗓️ 2 January 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

Jim Cramer and David Faber kicked off the first day of trading in 2025 with a look at what's ahead for stocks, following the best two-year stretch for equities since the late 1990s. Hear what Jim had to say about investing in the "Magnificent 7" stocks, including Tesla. Shares of the EV maker fell sharply in reaction to its first decline in annual deliveries. Also in focus: The deadly New Year's Day truck attack in New Orleans and the Tesla Cybertruck explosion outside a Trump hotel in Las Vegas. Squawk on the Street Disclaimer

Transcript

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0:00.0

It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street.

0:04.7

Don't miss a minute of the action. Happy New Year, everybody. Welcome to Squawk on the Street. I'm David Faber with Jim Kramer. We are a postline of the New York Stock Exchange. Carl has the morning off. Let's give you a look at futures as we get ready to start the trading year, as we say. and as you can see, we are looking for a nicely higher open.

0:24.5

And that's where our roadmap begins this morning.

0:26.5

Markets are in rally mode to start the new year of trading.

0:29.2

This after stocks did finish what is the best two-year stretch

0:32.3

we've seen since the late 90s, even despite a couple of down days there to end the year.

0:38.5

Also, I had Wall Street awaiting Tesla's delivery numbers.

0:41.9

They could come out.

0:43.4

You never know with Tesla.

0:44.5

They could come out as soon as today, and we'll bring them to you, of course.

0:47.4

And we're also going to stay on top of developments surrounding that deadly New Year's Day

0:51.0

truck attack in New Orleans and the explosion of a cyber truck as well

0:55.2

outside a Trump hotel in Las Vegas. Let us, though, start with the markets again after what was

1:02.4

a very strong year last year, particularly for the S&P. And in many ways, Jim, I'm so happy to

1:08.5

have you back and see you, my friend. Happy New Year to you.

1:12.4

The diversion between the equal-weighted S&P and the S&P itself was significant once again.

1:18.3

I know many hedge funds are happy to measure their performance this year. Equal-weighted, not the S&P index, because almost nobody could be the 24 or so percent performance.

1:28.0

There it is.

1:28.4

23.3 percent of the SP.

1:30.2

That doesn't include dividends, by the way.

1:32.8

What do you think?

1:33.7

What do you think?

...

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