Market Rally Aims for “Cloud Nine,” Bronfman's Paramount Bid, Eli Lilly CEO on Weight-Loss Drug 8/20/24
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 20 August 2024
⏱️ 45 minutes
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| 0:00.0 | It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street. Don't miss a minute of the action. Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintenea with Jim Kramer at the New York Stock Exchange. We're going to hear from Faber momentarily. Meantime, the S&P, NASDAQ, going for their ninth straight game today, would be the longest streak for the S&P in some 20 years as we're about 1% away from all-time highs. |
| 0:25.0 | A roadmap begins with the S&P, NASDAQ, and the NDX aiming to extend their respective win streaks. |
| 0:30.3 | InVIDIA leads the Mag 7 surge over the last couple of weeks, even though the rally has been quite broad. |
| 0:35.7 | And Lilly says its weight loss drug cut diabetes risk by 94% in a late stage trial. |
| 0:43.1 | David Ricks is going to join us later on this hour. |
| 0:46.0 | Let's begin with the market, though, in this rally, Jim. |
| 0:48.3 | A lot's been said about even though the volumes low, the breadth has been pretty impressive. |
| 0:53.2 | Yeah, look, there's a, we're seeing like bank markets piece of buybacks, record levels. |
| 0:59.3 | We're seeing big inflows. |
| 1:01.7 | A lot of people feel that they don't want to miss anything ahead of when the Fed starts cutting. |
| 1:06.5 | And that's very much the way it's always been. |
| 1:09.7 | However, I do think that we are now the most overbought. |
| 1:13.3 | We've been in a long time. |
| 1:14.2 | We're a plus seven. |
| 1:15.4 | My discipline for the investing club is it just doesn't matter. |
| 1:18.2 | You have to sell something. |
| 1:20.0 | Try to sell your losers so that don't subsidize your losers with your winter sales. |
| 1:25.4 | But I would point out that it's not too good to be true, |
| 1:30.0 | but there's just an endless parade of things which just say, |
| 1:34.8 | you'll take a little kid of Lowe's. |
| 1:36.8 | Lowe's will be a big miss, okay? |
| 1:38.7 | And you just presume you just want to figure out how much up it will be, |
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