MRKT MATRIX: December 2, 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 MoneyLion

S&P Posts Best Month of the Year

Dan Nathan and Guy Adami break down the top market headlines and bring you stock market trade ideas for Monday, December 2nd.

Timecodes

• 0:00 - Yields & SPX

• 16:00 - China, Metals & Mining

• 27:30 - Q&A Session

• 32:00 - Semi + Gen AI Trade

• 37:20 - More Q&A

• 43:15 - Consumer Depending

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

Market Euphoria vs Rational Optimism: Understanding Investor Sentiment

Dan Nathan, Liz Young Thomas, and Guy Adami discuss recent market trends and performance on the Monday edition of the 'On the Tape' podcast. They review key movements in the S&P 500 and NASDAQ, noting an impressive November, and dig into the impacts of the holiday week on trading volumes.

The discussion includes upcoming economic data, particularly jobs and PMI reports, their potential market impact, and the highs and lows seen in sectors like semiconductors and software. They also touch on notable events such as Pat Gelsinger's departure from Intel and potential benefits of generative AI on corporate earnings. Key market trends, economic indicators, and strategic company moves are dissected to forecast potential year-end outcomes and 2025 expectations.

Articles Worth Reading

• Investors are seized by optimism. Can the bull market last? (The Economist)

• The S&P 500 Is Set for Back-to-Back 20% Gains. What History Says Happens Next (Barrons)

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