Squawk on the Street
SOTS 2nd Hour: 2024’s Charts of the Year, Navigating Big Tech & What Trump 2.0 Means For China 12/27/24
Dec 27, 2024
Sam Stovall, Chief Investment Strategist at CFRA, shares his expertise on navigating market trends as 2024 approaches. He discusses top sector picks in Energy and Tech amid falling Nasdaq stocks and Bitcoin's struggles below $95K. The potential ramifications of a Trump presidency for China are explored, including warnings from a former Trade Representative about future trade relations. Additionally, the podcast delves into Silicon Valley's immigration debates, and the complex dynamics of oil prices against a backdrop of geopolitical tensions.
42:04
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Quick takeaways
- The podcast highlights significant market declines in major tech stocks and the complex dynamics of investor sentiment influenced by treasury yields.
- It also discusses Argentina's dramatic economic reforms under President Milei, resulting in a striking stock market rise alongside increased unemployment and poverty levels.
Deep dives
Current Stock Market Trends
The current stock market is experiencing a downturn, with the S&P and NASDAQ showing noticeable declines of almost one percent and one and a half percent, respectively. Major tech stocks such as NVIDIA, Microsoft, and Apple are struggling, with Apple recently missing the $4 trillion valuation mark. Despite these drops, the NASDAQ and S&P have managed to maintain a slight increase of about three-quarters of a percent and one percent respectively, for the week, signaling a complex market dynamic. Analysts keep a watchful eye on treasury yields and their impact on stock performance, with higher yields posing a visible concern as they influence investor sentiment.
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