Markets Reach the End of the Biden Era, Tech Titans Court Trump, TikTok's Fate 1/17/25

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Carl Quintanilla (0:59)

Market moving insight and analysis. Join Jim Cramer, David Faber and me, Carl Quintanilla, on the opening bell hour of CNBC Squawk on the Street.

Sara Eisen (1:08)

Good Friday morning and welcome to Squawk on the Street. I'm Sarah Eisen here with Jim Cramer at Post 9 of the New York Stock Exchange. Carl and David have the morning off. Take a look at futures this morning. Heading for an up week here on Wall Street. S&P is up 2% coming into the day. It looks like we're going to build on those gains. Up 44 points here. Head of the open Dow futures up 237, Nasdaq futures up 300 Our roadmap begins with the best week for stocks since November now. Wall Street pointing to a higher open on this last trading day of the Biden administration. Plus weight loss, drugs and focus, Medicare adding Ozempic and Wegovi to its second round of price negotiations, potentially expanding coverage for millions of Americans at lower prices. And TikTok on deck, the app set to go dark here in the US on Sunday. But the Supreme Court could rule on the ban as soon as this morning. The heavy news day will begin with the markets as we head into the final trading session under Joe Biden's presidency. And if you look at the winners, Jim, during the Biden administration, they have nothing to do with him.

Jim Cramer (2:09)

No, no, whatsoever. As we've been saying on the show, it's not in spite of it's because of I mean, did he really have anything to do with Nvidia when we try to restrict how many countries? The 18 friends, you see that 18 friend list?

Sara Eisen (2:20)

Oh, you're on this again. This is the new chip order from commerce.

Jim Cramer (2:23)

Well, I just, I think that they are, I think that that's changes day one.

Sara Eisen (2:29)

Nvidia called it misguided. Nvidia is the best performing stock of the Biden administration.

Jim Cramer (2:32)

And then Supermicro, which is an outfit that basically, I would call them a jobber for Nvidia. And we know that they lost their order. They have a new order. Good luck. Vistrum, how much do we love? Yeah, and nuclear, fantastic. Targa is a company that cut its dividend. Now, they're on the comeback. We want pipelines because we have to get that natural gas out of the Permian. Then Arista, well, you know what? Arista is the one a lot of people feel that's J.Shrie Yalal. And J.Shrie is, that's the plumbing for data centers. So that makes a lot of sense. J.Shrie is a very compelling figure in terms of even more than Broadcom in the data center. So it's extraordinary.

Sara Eisen (3:13)

So it's all really related to AI mostly.

Jim Cramer (3:16)

With the exception of nuclear and in that case, yes.

Sara Eisen (3:18)

But nuclear is also to power, right?

Jim Cramer (3:20)

Oh yes, it is to power, it's to power data centers. Yep, absolutely.

Sara Eisen (3:24)

Worst performing stocks in the Biden administration. We've got a few media names on there, Paramount and Warner Brothers, Walgreens, no surprise, and Moderna.

Jim Cramer (3:33)

No, Moderna has been one of the biggest disappointments of the year. I think that Stefan Bensel, he would be very good more on science, maybe get him more of a somewhat CEO in there that would be terrific. Match Group's Tinder down 9%.

Sara Eisen (3:46)

What happened to Tinder? Everyone was on it.

Jim Cramer (3:48)

What do I know?

Sara Eisen (3:50)

Your kids maybe would know better.

Jim Cramer (3:52)

We'll leave them out of it. But I do think that down 9% average monthly users is quite a blow.