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Squawk on the Street

Cramer's Morning Take: S&P 500 Winning Streak 12/18/23

Squawk on the Street

CNBC

Business, Investing, News

4.1567 Ratings

🗓️ 18 December 2023

⏱️ 4 minutes

🧾️ Download transcript

Summary

Jim and Jeff discuss the S&P 500 coming off its longest string of weekly gains since 2017. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0

I'm Jim Kramer and you're about to hear a sample taken directly from today's

0:06.5

CBC Investing Club morning meeting.

0:08.6

It's a dangerous time that doesn't mean sell stocks and one of the reasons I say this is

0:12.9

because here we go with the S&P 500 making another new high and if you had gotten out

0:17.7

in October I think you'd be very upset.

0:20.2

No absolutely I mean I think you'd be very upset.

0:21.7

No, absolutely.

0:26.0

I mean, I think even thinking more broadly, you brought up so many different dates in that story of when it could have made sense to sell.

0:28.7

The headlines were doom and gloomy.

0:30.1

And this is throughout history.

0:31.8

But we do have the S&P 500 making a new 52-week high today.

0:36.4

And that just kind of goes to show you that it just pays to hold on and hang in there

0:41.3

throughout those difficult times through the doomsday headlines because over the long

0:47.3

run, if you're invested in stocks, you're going to do well.

0:50.3

There was only one time, and I talked about this in Gavrich carefully, only one time

0:53.3

they'd paid you even if taxes to sell and then buy back, which was 2008. That was the great

0:58.8

recession, which was the worst time we've had since the actual depression. So, I mean, one time

1:05.0

out of our lifetime, not bad. And think how quickly stocks came back just this year. I know. I mean, it was, yeah,

1:11.6

21. That's when you made the highs in the, in the market early, you know, first couple days of

1:16.3

22. 22 was a down year, but then the markets come storming back this year. So it's been,

1:22.5

let's not forget. Treasury yields, once again, they are lower than we thought they'd be.

1:28.3

Remember, there was plenty of talk when the tenure was at five that we would soon see six.

...

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