Historic Post-Election Rally, Qualcomm and Arm Earnings, Tech CEOs and Trump: Round 2 11/07/24
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 7 November 2024
⏱️ 43 minutes
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| 0:00.0 | Market moving insight and analysis. Join Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Thursday morning, welcome to Squawk in the Street. I'm Carl Kintania with Jim Kramer, David Faber, post nine of the New York Stock Exchange. Futures add to gains after an historic day for the Dow, the dollar, financials, small caps, best stock reaction to a presidential election ever. |
| 0:23.2 | We turn to the Fed this afternoon and tons of double-digit earnings movers today. |
| 0:27.3 | A roadmap begins with the Fed on deck poised for another rate cut as stocks look to build on that rally. |
| 0:32.9 | Tesla gets a price hike following Trump's win. |
| 0:35.6 | How Elon Musk stands to cash in on the so-called Trump trade. |
| 0:39.7 | And we got a lot of earnings to hit this morning, of course. Qualcomm, Arm, Warner Brothers Discovery, Zillow, Novo. The list goes on from there. |
| 0:48.2 | Let's begin with his post-election rally as the street awaits today's Fed rate decision. Jim, still a lot of notes today about just what happened in small caps and regional banks yesterday, |
| 0:57.1 | solar, Bitcoin, you name it. |
| 0:58.8 | A mix of combination of M&A coming back, speak to David about that, lower taxes, pro-growth, |
| 1:05.9 | and a kind of a revaluation of Trump won versus what we saw with President Biden with the notion that, look, you're going to get better environment. |
| 1:20.1 | And David, you know, better environment is a hard thing to determine because could there have been a better run than Biden had. |
| 1:25.6 | But we don't remember that. |
| 1:27.0 | It doesn't seem to matter. Yeah, I mean, it's been a better run than Biden had but we don't remember that doesn't seem to |
| 1:27.7 | matter yeah I mean it was it's been a strong economy and a very strong stock |
| 1:33.7 | market of course as our viewers well know adding those kinds of games from |
| 1:37.7 | yesterday of course is now taking us into very high altitude performance so |
| 1:43.7 | to speak in terms of even historically for the S&P, Jim. |
| 1:48.9 | The Fed, obviously, a lot on its plate to consider. |
| 1:52.5 | I would assume they do not in any way consider what is yet to come in terms of policy |
| 1:57.7 | from an incoming Trump administration in terms of how they make their decision. |
| 2:02.4 | Yeah, I think that's true. And there are areas that we don't talk about that much where there is |
| 2:07.8 | real weakness. There is a trucking recession. Autos have been a major problem in the economy. |
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