SOTS 2nd Hour: 2024’s Charts of the Year, Navigating Big Tech & What Trump 2.0 Means For China 12/27/24

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Sara Eisen (0:59)

Happy Friday. Good morning and welcome to another hour of Squawk on the Street. I'm Sara Eisen with Brian Sullivan today live from Post 9 at the New York Stock Exchange. Carl and David have the morning off. Stocks with a weaker open. The S&P almost down a full percent. Nasdaq, it's worse, down one and a half percent after what's been a very strong run this week, this month, this year. For the week, even with these declines, the Nasdaq's still up about three quarters of one percent and the S&P's up about one percent. What's weak today is NVIDIA, Microsoft, Broadcom, all the big winners, Tesla, Amazon, even Apple, which was flirting with that four trillion dollar mark, didn't quite get there. We'll watch it, but it is down one percent in today's trade. Take a look at Treasury's. It's been one of the stories, the culprit of some of the weakness and the rotations we've seen lately. It's higher yields in the 10-year at just below 4.6 today, a little bit buying on the short end of the curve, the two-year and the five-year yields both a little lower. We're 30 minutes here into the trading session. Here are three big movers we're watching. Official numbers out for Netflix's Christmas Day NFL game, setting a record for the biggest audience for a streaming matchup. That said, and we should mention this, ratings did fall short of the audience of last year's Christmas games that ran on old school broadcast TV, CBS and Fox. Netflix's two games averaging 24.2 million viewers. A volatile week for natural gas ahead of today's January contract expiration, trading as high as $4 yesterday for the first time in nearly two years.

And then United Health Care extending the deadline to close their more than $3 billion merger with home hospice player, a Medisys, until next year. After the DOJ and three states sued to block the acquisition just last month, they now have until December 31st of next year, or ten days after final court decision on the case, to settle that deal.

Brian Sullivan (2:44)

Okay, three quick things. Number one, a lot of people didn't know the football games probably were on Netflix. By the way, the Christmas day tends to be a basketball day, not a football day. Number two, natural gas, but super cold.

Sara Eisen (2:54)

I was wondering about that.

Brian Sullivan (2:55)

What time? It was 19-

Sara Eisen (2:56)

So it's just home heating bills?

Brian Sullivan (2:58)

All over the country, it's been cold. For the most, not you Phoenix or Miami, but you get my broader point.

Sara Eisen (3:03)

It's cold here.

Brian Sullivan (3:03)

Yeah. By the way, hospice, they do great stuff. No comment on the deal, just saying that for what they do, it's a necessary service.

Sara Eisen (3:11)

Well, hopefully you'll have some comments on my five top charts of the year.

Brian Sullivan (3:14)

Okay.

Sara Eisen (3:14)

I worked very hard on that. Well, I'm very wonky, so it's always charts for me.

Brian Sullivan (3:18)

By the way, just so the viewers know, I did not know what these were, did I?

Sara Eisen (3:22)

No, you did not.

Brian Sullivan (3:23)

I have no idea.

Sara Eisen (3:24)

No, but you will like them.

Brian Sullivan (3:25)

I'm going to put on my best. I'm not Jim.

Sara Eisen (3:27)

They're emblematic. You will have something to say about all of them. I have no doubt. So, Argentina is number one. Argentina, the stock market has boomed 176% higher year to date. It is the best performing market in the entire world.

Brian Sullivan (3:44)

The local currency or dollar terms?

Sara Eisen (3:46)

So, this is local currency, but this is the impact of President Millet. So, you've seen the memes on social media with him in the chainsaw.