Markets and the China Effect, Hurricane Milton Factors, Nvidia's #2 10/8/24

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 8 October 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber discussed markets looking to rebound one day after the worst session for the Dow and S&P 500 in a month. Mainland China markets rose to 2-year highs before paring some gains in their first trading session since the "Golden Week" holiday, but Hong Kong's Hang Seng tumbled on the lack of additional stimulus measures out of Beijing. Also in focus: Hurricane Milton update plus Disney and insurers, Nvidia surpasses Microsoft to become the world's second-most valuable company, Roblox responds to Hindenburg Research taking a short position in the stock. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:05.9	Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kington-A with Jim Kramer and David Faber post-9 of the New York Stock Exchange.
0:11.8	Futures are mostly positive as stocks in Hong Kong suffer their worst decline since 2008. Pepsi kicks off Q3 earnings.
0:19.5	A lot of Fed speak today watching Hurricane Milton, now one of the strongest Gulf storms in 20 years.
0:25.4	Robat's going to begin with futures, though, shrugging off these China jitters after Beijing holds off on further stimulus.
0:31.5	And one key Fed official says our economy is well positioned for a soft landing.
0:35.9	Plus PepsiCo trims its revenue outlook.
0:38.2	It says U.S. consumers continue to pull back on buying snacks and drinks.
0:42.5	And keep it on on shares of Invidia, six-week high, eclipsing Microsoft as the second most valuable company.
0:48.9	That kind of happened during our show yesterday.
0:50.7	More gains today.
0:53.4	It's not from Microsoft, but for
0:55.0	invidia. Let's begin with the markets from the US to China. We mentioned
1:00.0	Hong Kong. Actually, the divergence, Jim, between Hong Kong and Shanghai was
1:04.0	historic. Yeah, and let's remember also there's some crazy stuff going on.
1:09.0	There's this hot money component.
1:17.0	Like when you, there's not enough money, hot money that can go by Shanghai and also by inviddy at the same time.
1:18.7	So the money flows back.
1:21.1	Finally, I mean, it's been, they didn't announce stimulus today.
1:23.5	And matter of fact, they're putting the brandy, Hennessy, one of your favorites, probably,
1:28.1	Hennessy, they got a tariff one. Well, they're counting the cases. But all I can say, Carl, is that if we could get that money back, if we could get the Chinese money, you remember when Dave Deppar, who's like the best in the world, was saying everything? Well, today is like Nothing. So if the money comes back, then I think that you'll see a decent opening.
1:47.9	Right. They have... best in the world was saying everything. Well, today is like nothing. So if the money comes back,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.