Squawk on the Street Morning After the Sell-off, Micron Tumbles, Trump: Abolish the Debt Ceiling 12/19/24
Dec 19, 2024
The hosts dive into the fallout from a major market sell-off, questioning the Fed's recent decisions. Micron's stock plummets despite a solid earnings report, stirring investor concern. Trump advocates for abolishing the debt ceiling, igniting political debate. They discuss Elon Musk's influence on a critical bipartisan spending deal. Meanwhile, Darden Restaurants shines with strong earnings, while Lamb Weston experiences a sharp decline after executive changes. The conversation touches on retail dynamics and evolving economic signals, keeping listeners on their toes.
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Fed Messaging Misstep
- Jim Cramer believes the Fed's messaging was wrong, causing market distress.
- Their prediction about the need for a rate cut was inaccurate, and they should have remained data-dependent.
Quantum Computing Concerns
- Companies like D-Wave and Rigetti are pursuing quantum computing despite its uncertain future.
- Jim Cramer questions the viability of these ventures, comparing them to NFTs and other speculative investments.
N-U: A Punchline
- Jim Cramer mentions a company, N-U, as a punchline.
- He flew to California to investigate it, suggesting a disappointing experience.