meta_pixel
Tapesearch Logo
Log in
Squawk on the Street

Stocks' Record Run, Musk-Altman AI Showdown, Apple's Rough January 1/23/25

Squawk on the Street

CNBC

Business, News, Investing

4.1567 Ratings

🗓️ 23 January 2025

⏱️ 42 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber discussed what's ahead for the markets one day after the S&P 500 hit a record intraday high. The anchors also reacted to the showdown between Elon Musk and OpenAI CEO Sam Altman over the new Stargate joint venture, whose partners pledged to invest up to $500 billion in U.S. AI infrastructure. Also in focus: Apple in correction territory as this month's worst-performing "Magnificent 7" stock, GE Aerospace surges, Electronic Arts plunges, why BlackRock CEO Larry Fink is "cautiously optimistic," Cramer's take on which companies will have to roll back prices. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0

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

0:08.6

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanao with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange.

0:15.1

Pre-market fairly steady following Wednesday's intraday high in that brief trip above 6,100. Corporate earnings dominate today,

0:22.6

jobless claims of the six-week high. The president does address Davos in a couple of hours.

0:27.7

Our roadmap begins with stocks trading near that record territory as investors digest another big

0:32.2

batch of earnings reports. Plus Elon Musk and Sam Waltman continue their online feud on X.

0:38.7

This over that $500 billion, or it could eventually be a $500 billion Stargate project.

0:45.9

Apple is the worst performing stock in the Mac 7 names so far this year.

0:49.2

Another major firm cuts its price target on the name.

0:53.8

Let's get to this market's record run as we finally got back above some all-time highs,

0:58.4

although Europe, Jim, year-to-date, is outpacing U.S.

1:01.0

I'm surprised because we're getting a lot of reports about how people are more negative

1:04.5

about Europe than ever.

1:05.5

Larry Fink, the CEO of BlackRock, just saying unmitigated negativity.

1:10.4

So it's obviously a contra rally.

1:13.1

If you have to be there, go to Santander because they're going to have the best numbers.

1:17.7

But look, I think it's going to be short-lived because I try to find companies that are doing really well in Europe.

1:25.2

And I can't really find them.

1:29.2

I see many that are doing well in the United States, but some today are reflective of negative things over Korea. And we have to

1:35.7

stay close to that. I think that I know David likes me to opine in the first minute and a half about

1:42.0

Nvidia. There is a company, let's just get this straight,

1:44.6

SK Hynix, they do DRAM, they do NAN,

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.