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Squawk on the Street

Record Highs and Parabolic Stocks, China Investigates Nvidia, Ad Giants' Megamerger Deal 12/9/24

Squawk on the Street

CNBC

News, Investing, Business

4.1567 Ratings

🗓️ 9 December 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber explored what to make of Wall Street firms' price target hiking parade, with the S&P 500 and Nasdaq at record highs. Hear what Jim said about the catalysts driving the parabolic moves in stocks such as Applovin and Palantir. The anchors also discussed China regulators investigating Nvidia over possible violations of the country's anti-monopoly law. Also in focus: Bytedance vs. the law that would force a sale or ban of TikTok in the U.S., what President-elect Trump told NBC News, the Omnicom-Interpublic merger deal to create the world's largest ad agency, Apollo and Workday to enter the S&P 500, why Deutsche Bank named Tesla a "Top Pick" for 2025. 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.

0:08.7

Good Monday morning. Welcome to Squawk on the street. I'm Carl Kintenea with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange.

0:14.4

It is a mixed premarket as we go into a consequential week for central banks, geopolitics, inflation data, got some lingering earnings in tech and retail,

0:23.6

10 years still below 4-2. A roadmap begins with Nvidia shares under some pressure in the pre-market

0:28.7

as China opens an investigation over possible violation of anti-monopoly law. Plus, President

0:35.0

elect Trump telling NBC news over the weekend that he will not try to remove Federal Reserve Chairman Jerome Powell.

0:41.1

We have a lot more from that exclusive interview ahead.

0:44.6

And the S&B 500 swapping out two names, Workday and Apollo, are now in the mix.

0:51.3

Both stocks up on the news.

0:54.1

Let's begin with this new week for the markets and this

0:56.4

record run for stocks, 57 all-time highs so far this year. Jim, a lot of discussion about

1:01.4

positioning being one-way bullish right now. It is. I just think there are a lot of upgrades.

1:08.8

I put out of a sheet every morning about what are we looking at.

1:11.9

And there's almost no downgrades.

1:13.9

Almost everything is an upgrade.

1:15.3

The only things are being downgrade are the oils.

1:18.0

It's all been a matter of fact.

1:19.4

What I see happening is that if a stock's up and someone boosts the price target, the stock goes up 10.

1:25.3

And so that makes the next firm boosts the price target. So, David,

1:29.3

we have this kind of virtuous circle of positive news just from the brokerage houses. And it's

1:36.4

impacting the stocks. It is. It is. And it just continues. I mean, even names again that, you know,

1:42.9

for example, Morgan Stanley today upsets

...

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