Markets and the Sell-Off: Where to Put Your Money Now 3/11/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 11 March 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla and Jim Cramer explored the markets struggling to recover from Monday's sell-off, which resulted in the worst daily performance for the Nasdaq since 2022. Jim explained why he believes the moniker for the stocks known as the "Magnificent 7" should be ditched. Cramer also outlined "three keys to this market" and how investors should navigate this environment. Also in focus: Oracle misses, Southwest a bright spot on a rough day for airline stocks, Morgan Stanley's Adam Jonas calls the Tesla stock slide a buying opportunity, flashback to Jim's NYSE interview with Donald Trump (then president-elect) on the importance of the markets. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market Insight and Analysis.
0:01.8	You're listening to the opening bell of CNBC, squawk on the street.
0:05.9	I would not jump back into the Magnificent 7 because as of tonight, there is no Mag 7.
0:10.9	Came up with that name, scrapping it right now.
0:13.4	No moniker fits to the two or three that remain viable.
0:15.9	And I'm not going to put it.
0:16.9	And there's nothing magnificent about Tesla or Nvidia.
0:21.6	That is Jim on Mad Money last night talking about what he used to call the Magnificent Seven.
0:26.1	Good Tuesday morning.
0:26.9	Welcome to Squawk on the street.
0:28.0	I'm Carl Kintan here with Jim Kramer at Post 9 of the New York Stock Exchange.
0:31.2	David Fabers on assignment.
0:32.5	After the drubbing yesterday, futures slightly red here.
0:36.2	Several big corporates lower the earnings guidance,
0:38.7	Delta, Southwest, American Verizon, Dick's sporting goods. But let's get right to the markets
0:43.3	today after the sell off. The worst day for the S&P in the Dow since December. Worse for the
0:47.6	NASDAQ since 2022. S&P is now in a 9% drawdown gym. Why did you choose last night to retire that phrase? Okay, well, first
0:56.0	of all, I want to be constructive here because everybody's giving up. I noticed that the airlines
1:01.3	that have said things are okay, like United are bouncing. Delta's not that bad. I think this is a very
1:06.4	crucial day. And I just want to say what I was saying was historical and empirical, not
1:10.0	hysterical and crazy.
1:11.5	I was looking at the Magnificent Seven from when Michael Hartnett created it from Bank of America,
	...

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