Rough Start, Rate Expectations, Disney’s Activist Moves 01/03/24

Carl Quintanilla and Jim Cramer began the hour by breaking down the markets’ rough start to the new year of trading. The Nasdaq posted its worst daily performance since October, and the worst start to the year since 2016. The anchors also discussed their expectations for the Fed Minutes; this as Richmond Fed President Tom Barkin said in a speech today that a soft landing is ‘increasing conceivable’ not inevitable, and that the potential for additional rate hikes remain on the table. The desk also shifted to Disney, which struck a deal with activist investor ValueAct Capital. The firm agreed to support Disney’s slate of board nominees at this year’s annual meeting, siding with Disney in its battle with Trian and Nelson Peltz.

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