SOTS 2nd Hour: Nvidia Chips Overheating? Tesla’s Road Ahead, Exclusive: Glenview Capital’s Larry Robbins 11/18/24

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 18 November 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Sara Eisen and David Faber began the hour by looking at the markets, after stocks suffered their worst week since early September. Tech was also a big focus today, following a report in The Information that Nvidia AI chips were overheating, which sent shares of the tech giant lower. On the other hand, Tesla shares surged following reports that President-elect Trump’s transition team is looking to ease rules for self-driving vehicles. Also in focus: CVS added 4 new members to its board, including Glenview Capital CEO Larry Robbins, who joined the program for a CNBC exclusive interview. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Monday morning. Welcome to another hour of squawk on the street. I'm Sarah Eisen with Carl Kintania and David Faber.
0:05.8	Live as always from post nine of the New York Stock Exchange. Take a look at stocks. After down week, we're a little
0:11.7	unchanged right now in the S&P 500. Nasdaq is firmer. Again, in the last week, we had a pretty broad big sell-off,
0:20.1	especially in the NASDAQ.
0:21.3	Technology is lower as in sector, industrials, health care, real estate.
0:25.1	They're all weaker.
0:25.8	But consumer discretionary starts off in the green for the week.
0:29.0	Tesla is a big part of that, up another 7%.
0:31.2	Some of the restaurant stocks as well bouncing back.
0:34.4	Consumer staple, maybe because RFK was pictured with the McDonald's,
0:37.9	by the stocks again. Consumer staples, energy materials, communication services, all higher
0:42.7	in this morning's trade. Take a look at how we're starting off the week in the bond market.
0:46.0	Again, the trend has been higher treasury yields, and that continues today. We're bumping up against
0:51.3	that 4.5 level on the 10-year, 4.461 is where we are right now.
0:55.2	The two-year higher as well, 4.3%. We are 30 minutes here into the trading session.
1:00.1	Here are some movers we're watching. I mentioned Tesla.
1:02.9	shares getting another pop on reports President-elect Trump's transition team wants to relax rules on self-driving vehicles in the U.S.
1:10.5	But Uber shares are dropping.
1:12.1	More on that coming up.
1:13.9	Nvidia under pressure after a report in the information said the company's new Blackwell AI chips
1:18.7	have been overheating when connected together in servers.
1:22.4	We're going to get the streets take in a moment on that.
	...

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