MRKT MATRIX: December 9, 2024

Today’s Top Stories:

• S&P 500, Nasdaq retreat from records as Nvidia shares slide (CNBC)

• Oppenheimer’s Stoltzfus New Top S&P 500 Bull With 7,100 Target (Bloomberg)

• Are Analysts Cutting EPS Estimates More Than Average for S&P 500 Companies for Q4? (FactSet)

• China Targets Nvidia For Potential Breach of Monopoly Law (Bloomberg)

• GM’s Moment of Truth in China Has Arrived (Barron’s)

• China Signals Bolder Stimulus for Next Year as Trump Returns (Bloomberg)

• Dollar Optimism Is Spreading From Hedge Funds to Asset Managers (Bloomberg)

• Why Tariffs Could Really Pinch Retailers This Time (WSJ)

• Donald Trump says he won’t try to remove Fed chief Jerome Powell (CNBC)

• Measuring the ChatGPT Threat to Google–and Alphabet Stock (Barron’s)

• Uber and Lyft’s Robotaxi Demise Might Be Greatly Exaggerated (Barron’s)

• Bank of America downgrades AMD due to potential market share loss (CNBC)

• Barclays upgrades Robinhood as retail trading activity shows no signs of easing (CNBC)

• Reddit gets an upgrade from Morgan Stanley thanks to strong ad revenue growth (CNBC)

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Today’s On The Tape is Presented by CME Group, iConnections and SoFi

Bumbles Bounce & A Conversation with Meredith Whitney

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Guy Adami, Dan Nathan, and Elizabeth Young Thomas discuss a wide range of financial and market topics, including Oppenheimer's revised targets for the S&P 500 and trends suggesting a bullish market outlook. They also explore the implications of AI on various sectors, particularly emphasizing the speculative interest in software and technology stocks like Tesla, NVIDIA, and Palantir. The conversation touches on China's economic policies and stimulus measures, along with potential effects on global markets. Finally, they discuss the rising interest in Bitcoin and other cryptocurrencies within financial institutions and central banks, and conclude with a preview of upcoming economic data such as CPI and PPI that might influence market movements.

Danny Moses and Guy Adami are joined by renowned financial analyst Meredith Whitney. Meredith shares her journey back to financial research after a hiatus due to the overregulation of banks. She discusses her unique approach to research, which involves thorough data analysis and theme exploration, leading to her groundbreaking calls on Citigroup and other financial institutions. The conversation also delves into the current state of private credit, consumer loans, and the potential for major M&A activity in the banking sector. Meredith's insights highlight the importance of rigorous analysis and adapting to changing market conditions.

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