Squawk on the Street Dow's "Santa Claus Rally," Jensen Huang's CES Showcase, Venezuela Effect 1/6/26
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Jan 6, 2026 The discussion kicks off with a historic high for the Dow, driven by strong banking and oil performances. Nvidia takes center stage after its CEO showcases groundbreaking AI chips at CES. Caterpillar's turnaround is praised, while Goldman Sachs experiences a stock surge tied to executive bonuses. The podcast also covers a sales rebound for Ford, implications of oil changes in Venezuela, and a memory shortage that boosts Sandisk's stock. The hosts debate tech laggards like Apple and Netflix, alongside insider buying trends in the market.
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Narrow Rally Behind Dow Records
- The Dow's record was driven by concentrated gains in banks and energy rather than broad market strength.
- Jim Cramer warns many portfolios felt spotty because the rally was narrow and not tech-led.
Caterpillar's Quiet Turnaround
- Jim Cramer recounts meeting Caterpillar's CEO and watching the company pivot into secular growth under new leadership.
- He credits the CEO's steady, unassuming approach for transforming Caterpillar into a key data-center play.
Vera Rubin Is An AI Stack Leap
- Jensen Huang unveiled Vera Rubin, claiming a 10x token-throughput gain and major system co-design across chips and networking.
- Cramer and Carl see this as shifting computing toward accelerated AI stacks and reasoning-capable systems.