Closing Bell
Closing Bell Overtime: Dow record close, Intel/Qualcomm Merger Talks and iPhone 16 on sale 9/20/24
Sep 20, 2024
Patrick Moorhead, CEO of Moor Insights & Strategy, discusses the Dow's record close following a Fed rate cut and the potential for a Qualcomm-Intel merger that could benefit both companies. Tony Fadell, co-creator of the iPhone and iPod, shares insights on the launch of iPhone 16 and the implications of AI for Apple. The conversation also touches on the reopening of the Three Mile Island nuclear plant and its sale of power to Microsoft, highlighting exciting investment opportunities in the nuclear sector.
43:26
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Quick takeaways
- The Dow's record close following an interest rate cut reflects strong market breadth, differing notably from past Federal Reserve approaches.
- A potential Intel and Qualcomm merger could reshape the semiconductor industry, although regulatory challenges may complicate the acquisition process.
Deep dives
The Impact of Recent Federal Rate Cuts
The podcast discusses how recent cuts to the federal interest rate have created a mixed landscape for major stock indices, with the Dow reaching a record closing but the S&P and NASDAQ showing slight declines. Analysts highlight that the market's breadth is relatively strong, with most S&P 500 members above their 200-day moving average, which is traditionally a positive sign for stock performance. It is emphasized that the Fed's approach this cycle differs significantly from previous ones, as they have begun with a 50-basis point cut instead of more gradual adjustments. The discussion suggests that even though this approach may signal panic, the underlying economic data remains solid.
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