Squawk on the Street Markets Reach the End of the Biden Era, Tech Titans Court Trump, TikTok's Fate 1/17/25
Jan 17, 2025
As the markets brace for Donald Trump's return, a dive into the performance of S&P 500 stocks reveals Nvidia's staggering 900% rise. Tech titans prepare for a new era, while the fate of TikTok hangs in the balance amid Supreme Court discussions. With Apple facing stock slump pressures and key obesity drugmakers reacting to Medicare news, the podcast uncovers the intricate ties between political shifts and market dynamics. Goldman Sachs CEO's lucrative retention award also stirs conversation as economic resilience and banking trends come into focus.
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Market Movers During Biden Administration
- The best-performing S&P 500 stocks during the Biden administration (e.g., Nvidia, Supermicro) thrived due to technological advancements, not Biden's policies.
- The worst performers (e.g., Paramount, Warner Brothers, Walgreens, Moderna) faced challenges unrelated to the administration.
Economic Backdrop for Trump 2.0
- The economic backdrop for Trump's second term differs significantly from his first, with higher GDP growth, inflation, and lower unemployment.
- Democrats misjudged public priorities by focusing on social issues while neglecting inflation's impact on everyday expenses.
CEO Sentiment Towards Biden Administration
- Jim Cramer spoke with CEOs who felt excluded and disrespected by the Biden administration due to a lack of communication.
- They believed their input on issues like inflation was disregarded.