Squawk on the Street SOTS 2nd Hour: All That Glitters Is Gold, OpenAI Big Tech Playbook, & A Sora-Subject? 10/8/25
Oct 8, 2025
Scott Kroner, U.S. equity strategist at Citi, shares insights on the S&P 500 and the risks surrounding AI-driven stocks. Diana Olick, CNBC real estate correspondent, dives into the rising popularity of adjustable-rate mortgages amidst affordability challenges. The discussion also covers gold's historic rally as a reaction to declining trust in central banks, alongside tech's momentum with emerging AI products and partnerships that could reshape market strategies.
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Central Banks Are Driving Gold's Rally
- Central banks buying gold has been a major driver of the rally and signals strategic dollar diversification.
- China has added to reserves for 11 months, showing a shift toward gold over fiat currencies.
Hedge With Gold And Crypto
- Use gold and crypto as hedges when equities show momentum but higher valuations.
- Allocate alternatives to balance exposure during a momentum-driven market, per Scott Kroner.
Earnings Momentum Already Priced In
- Citi expects modest S&P upside into year-end and solid Q3 results but limited surprise potential.
- Much of the market already prices in beats-and-raises, increasing short-term volatility risk.