SOTS 2nd Hour: Netflix Gains, Project “Stargate”, and Davos Deep Dives w/the CEOs of BNY & Williams-Sonoma 1/22/25

Squawk on the Street

CNBC

Business, News, Investing

4.1 • 567 Ratings

🗓️ 22 January 2025

⏱️ 42 minutes

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Summary

Carl Quintanilla and David Faber – alongside Sara Eisen, live from the World Economic Forum in Davos this hour – broke down the latest as tech stocks led the broader markets higher. Netflix shares popping double digits after a top and bottom line beat, alongside plans to raise prices here in the US – why Guggenheim says there’s more room to run here. Plus: Chip stocks alongside Oracle & Softbank in the green after Trump revealed the new “Project Stargate”, a $500B venture to boost AI Infrastructure in the U.S. – the key winners and losers at first glance. Additionally: Sara discussed the latest on the consumer front – and regulation - with the CEOs of the Bank of New York and Williams-Sonoma, both live from the World Economic Forum in Davos during the hour.

Transcript

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0:00.0	Good Wednesday morning. Welcome to another hour to walk on the street. I'm Carl Kington here with David Faber here at Post 9 of the New York Stock Exchange. Sarah Eisen is with us this hour from the World Economic Forum in Davos, Switzerland. She'll bring us the latest from there in just a moment. In the meantime, within a stone's throw here of all-time highs, S&P 6088, as you got tech taking the lead and yields somewhat well-behaved 10-year 457.
0:21.8	Three movers we're watching.
0:23.0	Netflix shares are soaring after reporting record sub-numbers, plus a plan to raise prices.
0:27.9	We're going to get the streets take in just a minute.
0:30.0	Proctor's in the green beating on the top and the bottom line, thanks to strengthen the company's beauty and baby segments.
0:35.7	And we're watching shares of some big tech names, like we said, like SoftBank and Oracle,
0:39.7	the president announcing a massive AI infrastructure investment backed by Oracle, OpenAI, and SoftBank,
0:46.2	a lot more ahead on that later this hour.
0:49.0	All right, but we're getting some economic data crossing the tape right now.
0:51.7	And for that, we'll go over to Rick Santelli.
0:53.1	Good morning, Rick.
0:54.9	Yes, good morning, David. This is December leading economic indicators. And boy, they've been
0:59.4	running negative for years. And once again, minus one tenth of a percent, as expected. In the
1:05.7	rearview mirror, the only positive integer of the year, up three-tenths, gets a little more positive, up four-tenths.
1:13.4	So up-four-tenths would be the strongest level, going all the way back to Dees of 21.
1:18.9	And just to put a face on it, Dees, 12 months, we had one zero-month unchanged.
1:24.5	That was in February.
1:26.0	Then, as I said, up four-tenths best since the end of
1:28.7	21. Leading economic indicators have not led you anywhere that hasn't been negative. And if we
1:35.2	look at what's gone on, really this week, the inauguration and the equity markets are quite
1:40.4	green. Interest rates very well behaved, as you pointed out, nearly on chains.
1:45.5	457 and a 10. And remember, we did briefly last week touch back above 480 intradate.
	...

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