Squawk on the Street 3-Year Bull Market, Fed Final Five, Paramount-WBD Talks 10/10/25
Oct 10, 2025
Three years into a bull market, the hosts explore the top-performing stocks while noting the economy's laggards. They highlight a record high for the Nasdaq, driven by NVIDIA's rise towards a $5 trillion cap. The group discusses the Federal Reserve's shortlist for the new chair and debates the profitability of quantum technology. Concerns arise over AI's impact on security and truth, while ongoing merger talks between Paramount and Warner Bros. Discovery create buzz. The status of the CoreWeave deal and Intel's surprising rise complete the insights.
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Narrow Leadership Masks Market Weakness
- The current bull market is concentrated in hyperscalers and speculative pre-revenue tech pockets while much of the broader market remains weak.
- Jim Cramer warns a large portion of sectors like homebuilders and drug stocks are effectively in a bear market despite headline highs.
Retail Bid Is Inflating Speculative Pockets
- Retail-driven 'Sherwood Forest' stocks (pre-revenue, quantum, meme names) are inflating valuations without profits.
- These groups depend on continued retail bidding and pose contagion risk if institutional support fades.
AI Video Drives Massive Compute Demand
- AI product rollouts and compute-heavy services will drive huge demand for cloud and specialized infrastructure.
- Video-generation models like Sora multiply compute needs far beyond chatbots, stressing cloud capacity.