MRKT MATRIX: November 25, 2024

Today’s Top Stories:

• Dow rallies 400 points to record, small-cap Russell 2000 hits all-time high after Trump’s Treasury pick (CNBC)

• Deutsche Bank sees the S&P 500 hitting 7,000 in 2025 on the back of rising risk appetite (CNBC)

• Goldman’s Rubner Says US Stocks Are Set to Rally Into Year-End (Bloomberg)

• Scott Bessent Sees a Coming ‘Global Economic Reordering.’ He Wants to Be a Part of It. (WSJ)

• Trump Trade Muddles Inflation Outlook in Fed’s Favorite Gauge (Bloomberg)

• If Inflation Is Back, Protecting Against It Won’t Be Simple (WSJ)

• Tesla’s $350 Billion Stock Surge Driven by ‘Animal Spirits,’ UBS Says (Bloomberg)

• As Musk Assumes Deregulation Role, Tesla Racks Up Pollution Violations (WSJ)

• TikTok CEO Seeks Musk’s Counsel on Incoming Trump Administration (WSJ)

• Macy’s Delays Earnings After Employee Hid Millions in Expenses (Bloomberg)

• Nvidia Will Balance Compliance with Tech Under Trump Administration (The Information)

• CoreWeave targets valuation of over $35 billion in 2025 US IPO, sources say (Reuters)

Today’s MRKT Call is Presented by CME Group

The Bessent Ascent

Dan Nathan and Guy Adami break down the top market headlines and bring you stock market trade ideas for Monday, November 25th.

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

Belief Over Fear: Markets Defy Gravity Amid Uncertainty

Guy Adami, Dan Nathan, and Elizabeth Young Thomas discuss market movements in reaction to a new Treasury Secretary pick and expectations of lower regulations and cyclical growth into 2025. They delve into the impacts of inflation, the potential re-ignition of inflation due to policy changes, and the behavior of the bond market. The hosts also assess market reactions to interest rates, the significance of personnel decisions, and the enthusiastic retail response to the treasury secretary pick. They wrap up with an analysis of recent Nvidia stock movements and upcoming retail earnings amidst the backdrop of economic uncertainties and holiday spending.

Further Reading

• RBC sees the S&P 500 rising to 6,600 in 2025, but expects a 5%-10% correction near term (CNBC)

• Trump threatens John Deere with 200% tariffs if production moves to Mexico (Reuters)

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