Squawk on the Street SOTS 2nd Hour: Live: US Steel CEO, Jensen Huang’s CES Keynote, Apple & Tesla Downgraded 1/7/25
Jan 7, 2025
David Burritt, the outspoken CEO of U.S. Steel, shares his thoughts on the Biden administration's decision to block his company’s merger with Nippon Steel, revealing his legal strategy to challenge it. The discussion also highlights Jensen Huang's impactful keynote at CES, reflecting on its immediate effects on the tech market, particularly NVIDIA's stock performance. Additionally, the conversation touches on the recent downgrades of heavyweight companies Apple and Tesla, sparking a debate about their future in a shifting economic landscape.
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Tech Sector Shifts
Healthcare is currently leading the market, while technology is under pressure. This shift indicates a potential change in investor priorities and market dynamics.
NVIDIA's Market Impact
NVIDIA's stock initially hit a record high following Jensen Huang's CES keynote but later experienced a decline. This highlights the volatility in tech stocks amid market reactions.
Monitor Economic Indicators
Pay attention to job openings and inflation indicators as they reflect the economy's health. These metrics can influence Federal Reserve policies and market reactions.