Dow 50k, Big Tech's AI Spending Spree, & What's Next For Bitcoin 2/9/26

Squawk on the Street

CNBC

News, Investing, Business

4.1 • 567 Ratings

🗓️ 9 February 2026

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks and crypto coming off another volatile week: Carl Quintanilla, Michael Santoli and David Faber kicked off the hour with a look at the state of the Big Tech trade - as value names like Caterpillar and Walmart power the Dow above 50k for the first time ever. Are AI capex plans still a huge risk for investors? The team discussed whether an early morning rebound for names like Oracle has legs here... and if there's more pain to come in the crypto space, with Bitcoin holding on above $65k. Plus: get a look at the staggering numbers around Super Bowl wagers - and what it could mean for gaming stocks. Also in focus: the latest out of a growing battle over the future of weightloss drugs - as Novo Nordisk files a new lawsuit against Hims & Hers... and a deep dive on how AI's changing the game for one of America's oldest banks. 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.
0:11.5	Good Monday morning. Welcome to Squawk on the Street. I'm Carl Cantony with Mike Santoli, David Faber here at Post 9 of the New York Stock Exchange. Kramer has the morning off.
0:18.9	Futures down small as we come off Dow 50K on Friday.
0:22.3	Big week of earnings with Ford, Coke, Cisco, McDonald's, and economic data with the jobs number
0:28.1	Wednesday, CPI Friday, 10 years 422. Our roadmap begins with the state of stocks with the Dow
0:33.8	hitting 50K for the first time, but tech coming off its fourth straight week of losses.
0:40.4	AI was one of the big themes in the last night's Super Bowl ads as Anthropic takes aim at OpenAI.
0:47.1	Meanwhile, in Vidia's Jensen Wong says the massive amounts of Kappex spending by Big Tech is sustainable.
0:53.1	And we've got some wild swings in crypto. This is Bitcoin
0:55.8	rebounds back above 70,000. Looks like strategy may have acquired more Bitcoin. We'll give you that as well.
1:03.4	Let's begin with the markets of the Dow surging 1,200 points on Friday to a new record, closing above 50K for the first time ever.
1:10.7	Stocks helping fuel that run.
1:12.1	You probably are familiar with a few.
1:13.4	Caterpillar, Walmart, Goldman, all doubling in that time.
1:16.3	Invidia, not far behind after joining the index in November of 24.
1:20.3	IBM rounds out the top five.
1:22.2	Mike, you've done some math on the names that have driven the Dow year-to-date at least.
1:26.8	Yeah, those are the actual
1:28.0	percentage gains in the stocks as opposed to how many net points are contributed to the Dow. Of course, it's a price-witted index. It was, you know, done in a way that you could figure it out on pencil and paper in 1896. That's why it's done that way. But I do think it also reflects the mood of the market right now which which is Dow outperforming S&P, which is outperforming the NASDAQ. So it shows you the Dow is a net
1:50.0	beneficiary of this move toward old economy, companies that have some kind of a claim on scarce
1:55.5	physical assets as opposed to digital businesses. But inside the Dow, in this particular move,
2:00.7	Caterpillar, year-to-date,
	...

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