Pullback After the Tech Rebound, More 737 MAX-9 Pressure On Boeing, CEOs Weigh In On Obesity Drugs 01/09/24

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 9 January 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber explored what to make of stocks under pressure the morning afterthe Nasdaq's best one-day performance since November -- and a fresh all-time high for Nvidia.Boeing shares extended Monday's losses on new developments surrounding the grounding of its 737 MAX-9 jets. The anchors discussed what pharma CEOs told Cramer at the J.P. Morgan Healthcare Conference, especially when it comes to the burgeoning obesity drug market. Also in focus: Netflix downgraded, the impact of Samsung's profit missand guidance on mega-tech and the chips, HPE said to be in talks to acquire Juniper Networks, Match Group's date with activism. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street. Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kington-Aid post-9 of the New York Stock Exchange. Kramers of the JPMorgan Healthcare Conference in San Francisco, David Faber at HQ. Coming off a Monday snapback, S&P, now once again within 1% of all-time highs, 10-year yield just north of four on a light day for day.
0:23.6	Roadmap begins with stocks, as we said, S&P within striking distance of a new record coming off the best trading day since November.
0:29.8	Plus, Nvidia, shares hitting a new all-time high, and it is the outlier of the Magnuson 7 stocks this morning, pointing to further gains at the opening.
0:38.1	Boeing shares, though, they continue to slide a bit.
0:40.4	This as more loose parts are found on Max 9 jets.
0:45.5	Guys, let's begin with the markets after yesterday's rebound, Jim.
0:48.9	Specifically, the rebound in tech.
0:50.7	A lot of discussion today about the renewed enthusiasm for AI, CES, semis,
0:56.9	crypto, and the like. Well, it looks like it was kind of a pincer move. They came in both with
1:02.3	health care right out here and talked about all the work they're doing for really, I guess,
1:08.7	for discovering new drugs and also for making a better colonoscopy.
1:14.0	I know not necessarily something that we want, but yes, we have to have.
1:17.7	And then CES, it's very clear that they have the next generation that is ready for PCs.
1:23.6	People didn't expect that PCs will be back.
1:26.0	David, the democracy, the democratization of tech that NVIDIA is offering now, it's not just the enterprise, it's individuals.
1:33.9	Very exciting for people.
1:35.7	You know, Jim, when it comes to NVIDIA as well, there's no shortage of other questions and or rumors and things of that nature.
1:41.1	So let me throw one your way, which is, would they ever consider setting up their own cloud infrastructure
1:46.6	to compete with the likes of Amazon or Microsoft?
1:50.1	Obviously, incredibly important customers for them.
1:53.9	But given they make all the chips that everybody wants,
1:56.4	is that something that's been discussed?
	...

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