SOTS 2nd Hour: Debasement Trade, Software Vs. Hardware, & Trump's High Stakes Mar-A-Lago Meetings 12/29/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 29 December 2025

⏱️ 44 minutes

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Summary

Sara Eisen, and David Faber began the hour with a look at the precious metals rally - and why it's tied to the debasement trade - before discussing the broader market outlook with Trivariate's Adam Parker. Plus: is it time to go from hardware to software? Hear one veteran tech investor's take on why 2026 will see "mindblowing" advancements in the latter sector - and what it means for stocks... and former DOJ antitrust watchdog Jonathan Kanter's opinion on whether Nvidia's GROQ deal is a new way for companies to avoid scrutiny from regulators. Also in focus: a high stakes meeting today between the President and Israeli Prime Minister Benjamin Netanyahu - the team discussed the latest and what's at stake with former Council on Foreign Relations head Richard Haass. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Monday morning. Welcome to Squawk on the street. I'm Sarah Eisen with David Faber. We are live for you, as always, from Post 9 of the New York Stock Exchange. Carl Kintanilla has the week off had this hour. It's the home stretch of trading for 2025. And while AI hardware names like NVIDIA were in focus this year,
0:22.1	a different part of the AI ecosystem could dominate in 2026. We'll explain. Plus, another key
0:27.8	White House meeting coming today with Israel's Benjamin Netanyahu following a weekend gathering
0:32.8	between President Trump and Ukraine's President Zelensky. We'll talk to Richard Haas from the
0:37.3	Council on Foreign Relations about what's at stake. And we've got the latest on the volatile silver President Trump and Ukraine's President Zelensky. We'll talk to Richard Haas from the Council
0:37.5	on Foreign Relations about what's at stake. And we've got the latest on the volatile silver
0:41.6	trade as prices cool off after a record rally last week. First, though, pending home sales data
0:47.0	just crossing. Diana Oleg has that for us. Diana. Well, David, pending home sales in November
0:52.4	rose 3.3% from October and were 2.6% higher than November of last year, according to the realtors.
0:59.0	That's a nice beat. The street was looking for a 1% gain. It was the strongest read of the year and the highest level in nearly three years.
1:07.0	This count is based on signed contracts, so people out shopping in November when the average rate on the 30-year fixed mortgage really didn't move much at all, but was lower than it was over the summer.
1:16.8	Rates today are right around where they were at the end of November.
1:20.2	Now, pending sales were up in every region, but the West saw the strongest jump up over 9% month to month.
1:26.5	The realtors say more supply is attracting buyers to the
1:29.4	market and affordability is improving slightly with lower mortgage rates. 22% of NAR members
1:35.3	said they expect an increase in buyer traffic over the next three months. That's up from 17%
1:40.4	in October, but down from 24% one year ago. Fewer realtors expect an increase in seller traffic.
1:47.0	Sarah.
1:48.2	Hey, Diana, thank you very much.
1:50.2	Good to see, rising pending home sales.
1:52.3	We're going to dive here into this debasement trade,
1:54.9	even though Mike Santoli poohed it last hour,
	...

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