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Squawk on the Street

S&P Hits 5,000, Pepsi’s Revenue Slide, Conflicts of Pinterest 2/9/24

Squawk on the Street

CNBC

Business, Investing, News

4.1567 Ratings

🗓️ 9 February 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber started the show by discussing the S&P crossing 5,000 for the first time, just 3 years after hitting 4,000 back in 2021. The biggest gainers year-to-date on the S&P index include: Nvidia, Meta and Eli Lilly. The anchors then turned to a slew of corporate results, including Pepsi. The beverage and snack maker topped earnings estimates, but quarterly revenue declined YoY for the first time since 2020. Other earnings movers in the mix included Pinterest, Take-Two Interactive and Expedia, all getting crushed on their respective results. Squawk on the Street Disclaimer

Transcript

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0:00.0

Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintania, on the opening bell hour of CNBC Squawk on the Street.

0:08.8

Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintanaia with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange. Future is pretty solid here. S&P looks to reclaim 5K after yesterday's pop. Those CPI revisions relatively painless. A two-year yield

0:22.9

drops to 4-4-3. Russell futures up a percent. Roadmap begins with a chips-fueled rally. The S&P

0:28.6

is poised to open above 5K. Invidia, the biggest driver on the year. More gains expected at the open.

0:35.0

Plus, we're keeping an eye on corporate results, of course. Pepsi's revenue

0:38.2

sliding for the first time in nearly four years. Expedia is blaming Boeing 737 groundings for headwinds,

0:45.6

and boy, were there headwinds. Pinterest seeing pressures on ads. And, of course, it is Super Bowl

0:51.1

weekend. Near record ad revenue is expected, and the game, of course, may also get a little boost from somebody named Taylor Swift.

1:00.6

Hack neat stuff.

1:02.0

You come in it first.

1:03.8

Five after nine, the people like tell me this from no.

1:06.6

People came to a bar and told me that.

1:08.3

That's information?

1:09.6

What?

1:09.9

The Taylor Swift thing.

1:29.5

You got to have another angle. I's the only time in the show when I actually read something that's there. Okay? Hey, I just wanted to start early in needling you because you spend the whole show needling me. I get the little needle at the beginning and then we're ready to roll. All right, we are ready to roll. Now I'm ready to roll. I bet you are.

1:41.3

Let's forgive with the markets above 5K yesterday for a brief moment. We're going to try to do it again today, Jim. People were sort of worried about these CPI revisions. But December actually trimmed down a tent. Right, but it's funny.

1:45.1

I mean, I can't tell you how many people told me if we don't go over this and hold it.

2:04.8

Well, this can be back in the wilderness, you know, the 2021 wilderness. Now, David, this is just, I know this is not the Dow, so it's actually just more important to speak. Yes. But you know, I mean, this is not, look, you could call, I don't know, Dave Tepper and take it over $5,000.

2:19.1

Right? Hey, A. Tepper, take it over $5,000. Yeah. I mean, this is not some, Dave Tepper being a very big hedge fund manager who also owns the Carolina Panthers. Yes. But, I mean, you could take this up. So let's just not make it. So it's make or break, okay? Okay. That's fine with me. I'm in agreement. Good. Okay. There you go.

2:23.9

And tonight I have Clowler. See it? Who do you have? I have Clowflare. So good night.

2:25.4

Oh, I have to do it. Band-Dash.

...

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