Closing Bell: Tech Surge Back with a Vengeance 12/11/24

Closing Bell

CNBC

Business, News

4.8 • 118 Ratings

🗓️ 11 December 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

The mega-cap melt up rolls on … so what is next for stocks? Fundstrat’s Tom Lee breaks down his outlook for 2025. Plus, former Dallas Fed President Richard Fisher tells us what today’s CPI print could mean for the Fed’s next move. And, Deirdre Bosa explains what is behind the big drop in Uber’s stock today.

Transcript

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0:00.0	All right, guys, thanks so much.
0:02.0	Welcome to closing bell.
0:03.0	I'm Scott Wobner, live from Post 9, here at the New York Stock Exchange.
0:06.0	This maker break hour begins with surging tech, which has taken the NASDAQ to a place it's never been before, above 20,000.
0:14.0	That milestone reached earlier as Apple, Amazon, Alphabet, Meta, Tesla, and Netflix all hit new highs today.
0:20.0	In just a second, we'll ask Super Strategist Tom Lee, how high stocks can fly in the new year.
0:25.7	He'll join us momentarily with that outlook.
0:28.2	In the meantime, here's where we stand with 60 to go in regulation.
0:31.9	The market's getting overall a pretty nice lift today after the CPI came in as expected.
0:37.0	Big Tech, no surprise, is helping the S CPI came in as expected big tech.
0:37.6	No surprise is helping the S&P edge closer to 6100.
0:42.2	We're only about 13 points away.
0:44.1	We're going to watch that closely over this last hour of trade.
0:47.5	It does take us to our talk of the tape.
0:49.3	Back with a vengeance as Mega Cap and the meltup there rolls on.
0:53.9	Let's welcome in Tom Lee now. Fundstrat's head of
0:56.0	research and a CNBC contributor with us as you see at post nine. Welcome. It's good to see you.
1:00.8	Great to see. Let's hit tech first. Should we be surprised at this resurgence, this meltup?
1:07.8	And it's maybe caught some people by surprise. I think investors should realize
1:13.4	2024 has been a year of surprising strength. The market has avoided so many opportunities for
1:19.4	weakness and now we're entering the final weeks of the year where we know there's still seven
1:24.1	trillion of cash on the sidelines and quite good visibility in the next year.
	...

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