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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.
42:43
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Quick takeaways
- The Federal Reserve's unexpected rate cuts have spurred confusion among investors, raising concerns about their ability to navigate future economic challenges.
- Elon Musk's growing influence over political and business communication is reshaping policy discussions, prompting debates about the power of private individuals in governance.
Deep dives
Market Reactions to Fed Announcements
The Federal Reserve's recent comments have triggered significant market fluctuations, particularly following a prediction that was deemed incorrect by several analysts. The Fed's decision to cut rates unexpectedly has confused investors, leading to one of the worst trading days in recent months. Market watchers noted that they expected a more cautious approach, yet the signals conveyed were inconsistent with the economic data available. This has left many investors questioning the Fed's ability to navigate upcoming fiscal challenges effectively, as the discussions surrounding a potential government shutdown continue.
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Listen to the best highlights from the podcasts you love and dive into the full episode