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Squawk on the Street

Bulls Charge Into March, Dell Soars, Elon Musk Sues OpenAI and Sam Altman 3/1/24

Squawk on the Street

CNBC

Business, Investing, News

4.1567 Ratings

🗓️ 1 March 2024

⏱️ 46 minutes

🧾️ Download transcript

Summary

Jim Cramer and David Faber explored how investors can profit in March, after the S&P 500 and Nasdaq finished February at record closing highs. Dell shares soared on earnings fueled by the AI boom. The anchors also discussed Elon Musk's lawsuit against OpenAI and its CEO Sam Altman, plus a flashback to what Musk told David several months ago about the maker of ChatGPT. Also in focus: Why New York Community Bancorp is tumbling again, billionaire investor Ray Dalio's take on the "Magnificent 7," earnings movers and crypto trading action in Solana since the FTX bankruptcy. Squawk on the Street Disclaimer

Transcript

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0:00.0

Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

0:05.9

Good Friday morning and welcome to Squawker on the Street. I'm David in favor with Jim Kramer.

0:10.3

We are live from Postline at the New York Stock Exchange. Probably be back on Monday.

0:14.7

Let's give you a look at futures if we get ready to start the final trading day of this week.

0:19.9

That doesn't do much of anything for me.

0:21.7

Probably not much for you either.

0:23.3

Let's move on to our roadmap, though, because that does begin with a lot of interesting

0:27.2

news.

0:27.7

First of all, that AI-fueled boom, Dell shares surging.

0:32.1

NASDAQ coming off its first closing high in more than two years.

0:37.4

And Ray Dalio down plays talk about tech bubble.

0:41.9

Plus New York Community Bank, Bank Corp is warning of, quote, material weakness in its accounting

0:46.5

and it's dragging down a number of other regional banks.

0:49.9

Of course, that stock's, that bank stock is also down.

0:52.8

This is a suboptim situation.

0:54.8

And in the land of lawsuits, Elon Musk, suing Open AI, accusing it of putting profit

1:01.5

before humanity.

1:03.5

Didn't you ask him about that?

1:04.7

I did.

1:05.6

I did.

1:06.2

And we'll cover that.

1:08.8

But first, let's get to the markets, obviously. A new month. Happy March.

...

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