Squawk on the Street

Carl Quintanilla, Sara Eisen and David Faber began the show with stocks in the red as higher yields continued to bite. Sara broke down the morning’s data – ADP & Jobless Claims – ahead of a big interview with Outgoing Treasury Secretary Janet Yellen, and the team discussed the road ahead for markets with Truist Wealth’s Co-CIO Keith Lerner (who says to bet on Tech here).  A key sector lagging? Big tech, primarily Nvidia. Wedbush still calls the stock a buy, and the analyst behind that call joined the broadcast to defend his price target. Also in focus: Palantir slides into correction territory, quantum computing stocks slump after new comments from Nvidia CEO Jensen Huang, and the state of commercial real estate with RXR Chairman Scott Rechler. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Quantum computing stocks are experiencing a significant drop after comments from Nvidia's CEO at CES, despite some still soaring over 1,000% in the past year. Palantir continues its downward trend post-record highs. Meanwhile, California wildfires are forcing thousands to evacuate, disrupting lives and impacting market reactions. The discussion also covers rising inflation, interest rates, and notable downgrades of major companies, highlighting the tensions and dynamics currently shaping the financial landscape.

Discover the exciting innovations from NVIDIA, shaping the future of AI and robotics. Self-driving cars and a new AI chip are just the tip of the iceberg. The discussion delves into how these advancements are challenging traditional automakers. Meanwhile, gain insights into current market trends and sector performances. It's a deep dive into the impact of technology on the economy and investment strategies.

David Burritt, the outspoken CEO of U.S. Steel, shares his thoughts on the Biden administration's decision to block his company’s merger with Nippon Steel, revealing his legal strategy to challenge it. The discussion also highlights Jensen Huang's impactful keynote at CES, reflecting on its immediate effects on the tech market, particularly NVIDIA's stock performance. Additionally, the conversation touches on the recent downgrades of heavyweight companies Apple and Tesla, sparking a debate about their future in a shifting economic landscape.

In a lively discussion, the team delves into Nvidia's game-changing AI advancements showcased at CES, pushing its stock to new heights. They react to Apple's recent downgrade to 'sell' and explore Meta's strategic pivot from fact-checking to appointing UFC CEO Dana White to its board. The conversation takes a humorous turn as they analyze Tesla's downgrade and Ulta's leadership changes amid shifting market trends. With insights on mergers and industry dynamics, the episode highlights significant moves in the tech landscape.

Tariffs are shifting market dynamics, particularly for consumer stocks like Constellation Brands. The conversation highlights the influence of recent tariff policies and their effects on stock valuation for major players like Tesla and Palantir. With a resurgence in tech enthusiasm, investments in stocks such as NVIDIA are also discussed. Additionally, the role of political factors in shaping market perceptions within Hispanic communities adds an intriguing layer to the conversation.

This conversation features Eric Knudsen, the multi-asset CIO at Neuberger Berman, who shares insights on the 2025 investing landscape, particularly in tech. He discusses the potential of Nvidia amidst AI demand and the ramifications of market volatility. Sarah Kaufman, NYC’s Taxi Commission Commissioner, explores the effects of the city's new congestion pricing, aiming to enhance transit efficiency while navigating legal challenges. Their discourse delves into market dynamics, tech stock growth, and urban transportation innovations.

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.

Andre Haddad, CEO of Turo, shares insights on the car rental app's safety measures after recent incidents have sparked concern. He discusses how Turo is enhancing security protocols and working to build trust among users. The conversation also touches on the impact of broader market trends and how tech companies are adapting in today's economic climate. Haddad emphasizes the importance of community responses to safety issues and reflects on the evolving landscape of the car-sharing industry.

Jim Cramer and Sara Eisen tackle the stock market's recent struggles, highlighting potential gains for 2025. President Biden's move to block Nippon Steel's acquisition of U.S. Steel sends ripples through the market. Tesla's stock rebounds despite recent delivery woes. Meanwhile, health warnings on alcoholic beverages spark concern, hinting at broader implications for the industry. The shifting landscape of consumer habits and tech advancements in healthcare also take center stage, as they explore future market trends.