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Closing Bell

Closing Bell: Tech Giants Under Trump, Bitcoin Rallies & TikTok Ban 12/16/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 16 December 2024

⏱️ 41 minutes

🧾️ Download transcript

Summary

From the open to the close, “Closing Bell” and “Closing Bell: Overtime” have you covered. From what’s driving market moves to how investors are reacting, Scott Wapner, Jon Fortt, Morgan Brennan and Michael Santoli guide listeners through each trading session and bring to you some of the biggest names in business.

Transcript

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0:00.0

Welcome to closing bell. I'm Scott Wapner, live from Post 9 here at the New York Stock Exchange.

0:04.1

This maker breakout begins with surging tech, which is once again leading this market higher.

0:09.0

Alphabet, Amazon, Apple, all hitting new highs yet again. So is Tesla.

0:14.3

Star analyst Dan Ives is here in a moment, raising his price target even more. He'll join us in a moment to explain.

0:20.5

In the meantime, the score

0:21.4

card with 60 minutes to go and regulation looks like this. NASDAQ, as you might guess,

0:25.1

is outperforming. It has been all month long, Dow's flat. S&P's getting a lift. Why? Because

0:30.5

Mega Cap Tech, the biggest names of this market, are the ones leading today. Broadcom's rising

0:35.1

another 10% as well today as Goldman raises its

0:38.0

price target to $240. It's a new record high for Bitcoin. The cryptocurrency continuing, it's amazing

0:44.6

post-election elevation. We do have a special report there coming up as well. It takes us to our talk of

0:50.6

the tape whether another tech run is just getting started. Let's ask Dan Ives,

0:55.0

Global Head of Technology Research at Wedbush, with me here at Post 9. Nice to see you, man. Welcome.

1:00.3

Should we be surprised at all at the fact that these stocks are once again surging, that they're

1:06.4

hitting in many cases new highs almost every day? I think it's, look, it's get the popcorn out

1:12.0

because it's just the start of what's going to be

1:14.5

the AI revolution,

1:15.6

as the second, third, fourth derivative is play out.

1:18.2

Me and you've talked about it, Trump administration in,

1:21.9

that's a Goldilocks scenario for tech deregulation

1:24.8

from FTC to Nitsa and others,

1:27.3

and that's why when you look at

...

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