Fed Decision Day, Nvidia Rebounds, Starbucks CEO's 100th Day on the Job 12/18/24

Squawk on the Street

CNBC

News, Investing, Business

4.1 • 567 Ratings

🗓️ 18 December 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber explored how to navigate the markets ahead of Wednesday's Fed interest rate decision. Nvidia shares rebounded as the stock tries to climb out of correction territory. The anchors discussed Brian Niccol's first 100 days as Starbucks CEO, the challenges he faces and the stock's performance since he took the job. Also in focus: Honda-Nissan merger talks, Morgan Stanley names Disney a "Top Pick" for 2025, "Magnificent 7" stocks in record territory, the Dow's longest daily losing streak since 1978. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:12.8	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kington, Ian, with Jim Kramer, David Faber,
0:17.1	David Faber, post-9 of the New York Stock Exchange. Bulls do look to get some back after the Dow's worst day in a month.
0:22.6	Dow is also trying to avoid a 10th consecutive loss. It's Fed Day, rate decision at 2 p.m. Eastern time.
0:28.6	A roadmap begins with Fed watch. A third straight rate cut is expected, but investors are waiting the dot plot for some T leaves into 25.
0:35.6	Plus that AI trade, and Vidia shares look to be set for
0:39.5	a bounce sales force launches an AI hiring spree and energy regulators are warning about tech
0:45.3	surging power demands and Starbucks on the verge of a major barista strike an early challenge it would
0:51.5	seem for its new CEO Brian nickel let's begin though with the markets and decision day for the Fed. It's not just the rate decision, Jim. We'll see if they revise their growth forecast, if they signal fewer cuts next year. Yeah, look, I mean, there's just growing consensus not represented necessarily in these Fed Fund futures, but just says, why are they doing this? And I come back and say,
1:11.0	well, why are they doing this? Look at the material stocks. Look at this, look at anything related
1:15.1	to industrial export. Look at the housing stocks. David, there are cohorts that are indeed rolling
1:20.4	over. It isn't like everything is just super strong and everything's quantum computing and rocket
1:25.9	lab. Oh, man, those small quantum computing and rocket lab.
1:30.1	Oh, man, those small quantum computing companies.
1:30.9	Not the big one.
1:34.9	Not the one that's probably going to win if it ever comes to it with the Willow,
1:36.6	but all these small guys who know who knows.
1:38.7	They're all taken off.
1:42.8	But to your point about what's not been working also, Jim, and I don't know if this goes to interest rate forecasts or the fact that we may not get as many cuts, but value stocks, 11 straight days down.
1:52.0	It's incredible.
1:53.3	We've got a new record.
	...

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