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Squawk on the Street

What's At Stake for the Markets, Palantir Soars on AI Demand 11/05/24

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 5 November 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Election Day is finally here! Carl Quintanilla, Jim Cramer and David Faber discussed the markets bracing for results of the presidential election -- as polls show a neck and neck race between Vice President Harris and former President Trump. Cramer explains what the election outcome could mean for certain stocks. The anchors also reacted to shares of Palantir soaring on upbeat results and guidance. The company’s CEO Alex Karp cites "unrelenting AI demand." Also in focus: Dollar Tree CEO steps down, Boeing union votes to end strike, fast food and the earnings parade, remembering Home Depot co-founder Bernie Marcus. Squawk on the Street Disclaimer

Transcript

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0:00.0

It's Jim Kramer here. You're listening to the opening bell of CBC's squawk on the street.

0:04.7

Don't miss a minute of the action.

0:13.0

It is Election Day in America, millions lining up across the country to choose the 47th president of the United States.

0:20.4

80 million have already voted. Much at

0:23.1

stake, polls suggesting the race remains extremely close. Good Tuesday morning. Welcome to Squawk

0:28.9

on the street. I'm Carl Kintanee with Jim Kramer, David Faber, post nine of the New York Stock

0:32.2

Exchange. Future is pretty steady coming off three out of four down days for the S&P. Our roadmap is going to begin,

0:39.3

of course, with the election waiting game. Voting's underway, markets remain steady ahead of the

0:43.4

open. Plus the AI surge, Palantir shares. They're rallying sharply after delivering a rosy outlook,

0:50.8

his CEO, saying the company sees, quote, unrelenting demand.

0:55.0

Oh, so he's so much. He's too much. And Bowen Machinists are set to return to work this

0:59.3

after ending a bitter seven-week strike. They approved a new labor contract. The pay raise over

1:04.3

four years, 38%. Let's begin with Election Day in the markets. Nice little stat to start the day, Jim.

1:11.2

Stocks have closed higher last five presidential election days.

1:14.5

I thought that was a great stat. I was trying to figure out, is it dispositive given the fact that we have, I would say, an unusual election.

1:23.4

Usually unusual antipathy, David, not a congratulations among them, not a, how are you doing?

1:31.3

Just basically one candidate attacking one, another.

1:35.5

And I think that the story is.

1:37.1

Well, one not talking about the other directly, and then the other, obviously.

1:40.5

I mean, for example, Vice President nominee

1:45.5

Vance yesterday

1:47.4

called

...

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