Tech Extends Sell-off, Cramer at J.P. Morgan Healthcare Conference, Zuckerberg Slams Apple 1/13/25

Squawk on the Street

CNBC

News, Investing, Business

4.1 • 567 Ratings

🗓️ 13 January 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber explored what to make of tech sector weakness following Friday's sell-off. The anchors also reacted to comments Mark Zuckerberg made on Joe Rogan's podcast. The Meta CEO slammed Apple and weighed in on "masculine energy." At the J.P. Morgan Healthcare Conference in San Francisco, Jim discussed his CEO lineup for Monday's night's "Mad Money" as well as the challenges facing the health care sector. Also in focus: Johnson and Johnson to acquire drugmaker Intra-Cellular Therapies for $14.6 billion, Moderna plunges on weak 2025 sales guidance, California wildfires impact, sources tell David that Cleveland-Cliffs is partnering with Nucor in a potential bid for U.S. Steel. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:05.9	Good Monday morning. Welcome to Squawk on the Street. I'm Carl Cantona with David Faber here at Post 9 of the New York Stock Exchange.
0:11.1	Kramer's in San Francisco at J.P. Morgan's 43rd Annual Healthcare Conference gets underway today.
0:16.8	Futures are weak as this global bond tantrum continues to roll on, yields near some 14-month highs,
0:22.8	oil at 78, DXY 110, and it's an important week, bank earnings, cabinet nominee hearings,
0:29.4	and CPI.
0:30.8	Our roadmap begins with the morning movers.
0:32.5	Invidia calling out the Biden administration's misguided AI rules.
0:37.3	Lulu and Abercrombie raising guidance.
0:39.1	Quantum stocks tumble once again.
0:40.8	Plus, we got Moderna shares also tumbling in the pre-market.
0:44.0	The pharmaceutical company that focuses on vaccines lowers its 2025 sale forecast by
0:49.4	roughly a billion dollars as it continues to cut costs.
0:53.8	Meadows shift into the Trump era, something else
0:56.3	we're going to talk about. CEO Mark Zuckerberg sounds off on Apple, social media, censorship,
1:01.5	and the need for more corporate masculine energy, Carl. Let's begin with Jim at the JPMorgan
1:09.0	Healthcare Conference today. Jim, although I want you to raise the curtain on the week, but also talk about this pre-market price action, which I believe you called hideous this morning.
1:19.2	Yeah, well, look, I mean, I think that we've had this incredible speculative wave. You talked about the quantum stocks being down. We had it nuclear. We've also had stocks like an appell up and like a pound here that have been up a lot. Those are all coming in. And this week I'm looking at health care. Health care really hasn't had much of a move. So I think those stocks, honestly a safe haven with interest rates going higher. I still expect 5% to hit on the tenure. But I've got to tell you, the tone is hideous.
1:45.3	I think the tone is being set by the Biden administration,
1:48.9	doing a last-minute 200-page ruling about who can get AI and who can't.
1:53.8	And then, David, I've got to tell you, I think that the Zuckerberg interview on Joe Rogan was seminal,
2:00.7	because it basically just said,
	...

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