Squawk on the Street Record Highs and the Santa Claus Rally Watch, Metals Rock, Nvidia's $20B Deal 12/26/25
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Dec 26, 2025 David Faber, a CNBC journalist known for breaking significant tech stories, joins to discuss recent market movements. He elaborates on Nvidia's groundbreaking $20 billion deal to acquire Grok's assets, highlighting its implications for the chip industry. The conversation also dives into record highs in major metals, driven by strong demand, and the potential for a Santa Claus rally in the stock market. With insights on Tesla’s future from a former board member and an outlook for key retail players like Nike and Lululemon, the discussion is dynamite for investors.
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Record Highs And Moderated Expectations
- The S&P 500 hit record highs and is on pace for a fourth straight year of double-digit gains.
- Strategists expect 8–11% average gains for 2026, tempering some of the euphoria.
Metals Rally Driven By Supply, Industry And Geopolitics
- Gold, silver, copper and platinum all hit new all-time highs with miners surging alongside metals.
- Supply constraints, industrial demand and geopolitical risks are driving a broad metals rally.
Miners And ETFs Outperform Metals And Benchmarks
- Miners have outperformed underlying metals and many miners beat the S&P 500 this year.
- Investors can access leverage to metal moves through ETFs like GDX and GDXJ instead of single-stock picks.