Markets’ Record Run “Too Far, Too Fast”?, AI Risks and Rules, Apple's Rotten Q1 3/27/24

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 27 March 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

With the Dow and S&P 500 looking to snap 3-day losing streaks after a record run-up for stocks, Carl Quintanilla and Jim Cramer engaged in a wide-ranging discussion about a question posed in the latest Delivering Alpha survey: Has the market run too far, too fast? Also in focus: Commerce and Treasury Departments' new recommendations on regulating AI, Apple's Q1 stock slump and J.P. Morgan's note on China iPhone sales, China's President Xi meets with U.S. CEOs, meme stocks back in the spotlight as Trump Media surges again and GameStop tumbles, Mark Zuckerberg and Jensen Huang's "jersey swap." Squawk on the Street Disclaimer

Transcript

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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 Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanio with Jim Kramer at Post 9 of the New York Stock Exchange. David Faber is the morning off. Bulls will try again to snap this losing streak now extended to three days. Tons of movers in pharma, autos, retail, and media, and don't forget Fed Governor Waller
0:24.2	after the bill tonight.
0:25.6	A roadmap begins with stocks looking to bounce after that late-day decline for the S&P and
0:29.5	NASDAQ yesterday.
0:30.9	China courting U.S. business leaders, President Xi, telling the CEOs of Chubb, Blackstone,
0:36.9	Qualcomm, and others that China's economy
0:38.7	has not peaked and its growth prospects remain bright.
0:43.0	And Apple's not so good year, JPM pointing to some rising concerns of an iPhone slowdown
0:48.6	in China.
0:50.0	Let's begin, though, with the markets.
0:51.5	The delivering alpha investor survey of leading institutional investors, strategists, and CNBC contributors
0:56.3	focuses on their outlooks and strategies for Q2 and beyond.
1:00.3	61% believe the market has run too far, too fast.
1:05.3	I haven't really heard you say that yet, Jim.
1:07.3	No, look, I do care about speculation, and we've had a couple of speculative
1:11.3	stocks. Dislike him or like him, President Trump's stock is a little confusing to people,
1:19.0	confusing speculative. Today you said it's overvalued. Exactly. I can't find a way to value it.
1:25.7	Reddit, that was a little too much reminiscent of GameStop, which should not have a good quarter.
1:31.0	But I'm calling for a broadening out.
1:33.1	What I'm seeing is that it's not too far too fast.
1:38.3	It's now the banks.
1:39.7	I mean, for instance, we see some downwards of banks because the stocks have moved too much.
	...

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