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Closing Bell

Closing Bell Overtime: Banks vs. the Fed, Apple's Smart Home Push, and Tesla's 2025 Outlook 12/24/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 24 December 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

HSBC's Jose Rasco and Interactive Brokers' Steve Sosnick talks the runup in stocks and where to place your bets in 2025. Fundstrat's Tom Lee on how much higher tech stocks and bitcoin can go. Former Saks CEO Steve Sadove analyzes holiday shopping trends and why consumers are shifting their preferences from experiences to items. Banking groups are suing the Fed over the banking stress tests; Eugene Scalia, one of the attorneys representing the plaintiffs suing the Fed, on the legal clash between banks and the Fed and Steve Westly discussing Tesla’s outlook amid potential policy shifts under Trump 2.0. Plus, our Steve Kovach details Apple's renewed efforts in the smart home market while Julia Boorstin explores Netflix's bet on NFL Christmas programming.

Transcript

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0:00.0

All right, that's the end of regulation time.

0:03.0

The Council of Autism Service Providers ringing the closing bell at the New York Stock Exchange, as you're seeing there.

0:08.6

The Little St. Nick Foundation doing the honors at the NASDAQ market site as well.

0:13.4

The market leaving a nice gift for bullish investors on this holiday shortened trading day,

0:18.2

the Dow extending its winning streak to a fourth straight day.

0:21.7

The S&P 500 in NASDAQ higher for a third day in a row. That's the score caught on Wall Street so far today.

0:28.2

But the actions just getting started here on the show. Welcome to closing bell overtime.

0:32.3

I'm Dominic Chu alongside Leslie Picker. John and Morgan, of course, are off for the holiday today, Leslie.

0:37.1

Every sector in the green today led by consumer discretionary, Tesla driving that sector higher again.

0:42.9

And coming up, former Tesla board member Steve Wesley on the outlook for the EV maker under the incoming Trump administration.

0:50.5

And Fundstraps Tom Lee on whether today's market gains are the start of a year-end rally.

0:56.9

All right, let's break down today's market action with a host of different voices on this.

1:02.0

Jose Rasko of HSBC private banking and wealth and Steve Sosnik of interactive brokers as well.

1:08.4

If you take a look at the market so far today, this is nice.

1:11.3

It's a feel good, at least going to the holiday week, guys. And maybe Jose, I'll start with you.

1:16.6

Do you feel as though this is a rally that can carry on for the next few days into the new year in that so-called Santa Claus rally period?

1:25.2

Yeah, yeah. Look, I think if you look, we got through a lot of noise in the last couple of weeks,

1:29.3

everything from potential for government shutdowns, debt ceilings, et cetera, we've gotten through

1:33.6

a fair amount of that.

1:34.6

I think now people are going to look ahead past the holiday season.

1:37.6

Earnings begin pretty quickly as we turn the calendar page.

1:41.4

So I think the market is going to start to look there. And no question,

...

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