Squawk on the Street Stocks’ Fast Start, Gearing Up for Nvidia CEO's CES Keynote, U.S. Steel and Nippon Steel Sue Over Biden Blocking Their Merger 1/6/25
Jan 6, 2025
The stock market showcases resilience as major indices recover from a slump. Excitement builds for Nvidia's keynote at CES, promising tech innovations. A legal showdown unfolds as U.S. Steel and Nippon Steel push back against Biden's merger blockade. Meanwhile, United Airlines looks to test Elon Musk's Starlink on flights, while Salesforce faces a 'sell' recommendation. The entertainment industry takes heat at the Golden Globes, with Netflix dominating nominations amidst fierce competition.
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Tech Rally and Interest Rates
- Tech stocks are perceived as less susceptible to interest rate hikes than other sectors.
- This perception drives the tech rally despite rising rates and negative housing news.
Nvidia and Tech Spending
- Jensen Huang's upcoming speech at CES is highly anticipated and expected to move markets.
- Analysts predict a reacceleration of tech spending, but Salesforce might be an exception.
Salesforce Downgrade
- Guggenheim downgraded Salesforce, skeptical of its growth prospects.
- Cramer disagrees, citing the success of Agent Force and its potential in healthcare.