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Squawk on the Street

SOTS 2nd Hour: The Trump Trade, Bitcoin Bedlam, Big Box Office Weekend 11/22/24

Squawk on the Street

CNBC

Business, News, Investing

4.1567 Ratings

🗓️ 22 November 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Morgan Brennan and David Faber began the hour by breaking down another winning week for stocks, despite some volatility in the MAG7 names. Goldman’s senior equity strategist, Ben Snider, joined the group to discuss how investors have been positioning themselves ahead of the new Trump administration. Also in the mix: CNBC’s Dom Chu joined the hour looking at Bitcoin touching new record highs, getting closer to that $100K milestone. IMAX CEO Rich Gelfond closed out the hour with his thoughts on the huge movie weekend ahead, with ‘Wicked’ and ‘Gladiator II’ hitting theaters. Squawk on the Street Disclaimer

Transcript

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0:00.0

Good Friday morning. Welcome to another hour of squawk on the street. I'm Carl

0:08.6

Kintanao with Morgan Brennan here at Post 9, along with David Faber at the New York Stock

0:12.4

Exchange, Sarah Eisen's on assignment. Coming off the best day for the Dow since November 6th and

0:17.0

adding a little bit more. Dow's up almost 300 points, 5966 S&P. Got the best PMIs since

0:23.6

2022, and that has lifted the front end of the curve, although the tenure remains a little suppressed.

0:29.2

Well, we're 30 minutes into the trading session. So here are three big movers that we're watching this

0:33.2

Friday. Shares of gaps soaring the retailer raising its sales outlook for the year after reporting

0:37.9

market share growth across its brands in the third quarter. The stock's had a volatile

0:42.3

ride this year. It's really a turnaround story. Shares are up almost 8% right now. Shares have

0:46.6

been to it, though, those are falling after its earnings guidance came in below street estimates.

0:51.0

The company delaying promotions for its desktop version of TurboTax. You can see

0:54.9

those shares are down about 4%. And we are continuing to keep a close eye on the crypto trade.

1:00.8

Bitcoin hitting new all-time highs again, hitting $98,525. We are getting so much closer to that

1:09.7

$100,000 milestone.

1:12.4

A lot of chatter, though, that maybe we're overbought here.

1:14.9

We've got more on this trade ahead in the show.

1:16.7

Let's get some Eumish with Rick Santelli.

1:19.1

Hey, Rick.

1:20.6

Yes, there's more warm data here, Carl.

1:23.8

So we look at University of Michigan.

1:25.6

These are November finals.

1:27.1

So we take the mid-month reads and we toss them.

...

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