Bessent Effect: Dow and S&P 500 Rally to Record Highs 11/25/24
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 25 November 2024
⏱️ 42 minutes
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| 0:00.0 | Market moving insight and analysis. |
| 0:02.1 | Join Jim Kramer, David Faber, and me, Carl Kainteneah, on the opening bell hour of CNBC Squawk on the Street. Good Monday morning. Welcome to Squawk on the street. I'm Carl Kainteneo with Jim Kramer, David Faber, post-9 of the New York Stock Exchange. Some calling it not the Trump rally, but the Besson rally. Stocks up yields down on news of Scott Besson, being Trump's pick for Treasury. |
| 0:21.3 | Ten-year yield about a two-week low. |
| 0:23.3 | The curve briefly inverts on this holiday shortened week. |
| 0:27.3 | Our roadmap begins with rally mode. |
| 0:28.8 | Wall Street is coming off a winning week as the post-election rally does pick up steam once again. |
| 0:33.1 | Plus, back to Trump's Treasury picky as hedge fund manager Scott Besson, what that choice could mean for global markets. |
| 0:39.8 | And Warren Buffett is speaking out against creating family wealth or dynastic wealth. |
| 0:45.8 | He's giving away another $1.1 billion to four family foundations. |
| 0:51.0 | A lot more in an interesting letter from Buffett this morning. |
| 0:54.6 | Let's begin with the markets as we do enter this holiday short and trading week for the |
| 0:58.2 | Thanksgiving Day holiday. Jim, even you mentioned these yields at early hours of the morning today. |
| 1:02.9 | Well, look, I think that we've been controlled by the 10 year. |
| 1:06.8 | I think that there was a sense that every time we get near 4.5, it's time to sell stocks. |
| 1:11.8 | Anytime we get back down to 4.5 quarter, it's time to buy stocks. |
| 1:15.2 | It's such a simplistic thing that, David, you know that it's completely algo-derived. |
| 1:20.9 | People at home might think, well, isn't it silly that it could be such a big change? |
| 1:24.8 | But I think it also does with the deficit. |
| 1:27.9 | And the idea that if it goes 4.5, that's because we can't handle the bomb load. |
| 1:32.1 | We can't hear the sales. |
| 1:33.5 | 4.3 says we can. |
| 1:35.1 | So it's pretty weirdly cut and tried. |
... |
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