Squawk on the Street SOTS 2nd Hour: Nvidia's China Concessions, Fedspectations, & K-Shaped Economy Concerns 12/9/25
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Dec 9, 2025 In this lively discussion, Paul Hickey shares bullish historical trends impacting consumer stocks as the Fed meeting approaches. Technology analyst Ben Reitzes breaks down Nvidia's strategic moves regarding China, addressing the global compute shortage. Meanwhile, U.S. Representative Dan Goldman introduces his Robin Hood Act, a proposed tax aimed at bridging the wealth gap by taxing loans backed by capital assets. The conversation blends market insights with pressing social issues, making it a compelling listen for investors and policymakers alike.
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Jobs Data Paints A Mixed Picture
- October JOLTS showed 7.67 million openings, stronger than expectations and the best since May.
- Labor data are mixed, signaling jobs remain plentiful but underlying soft spots exist.
K-Shaped Holiday Spending
- Consumer Edge credit-card data show a K-shaped holiday spending pattern with low-income cohorts pulling back.
- High-income households (>$100k) drove strong growth in footwear, athleisure, and cosmetics.
Affordability Splits Retail Winners
- Lower-income consumers face ongoing pressure from cumulative inflation and fewer job opportunities.
- Luxury sellers like Toll Brothers benefit by serving more affluent customers less affected by affordability strains.