SOTS 2nd Hour: Debasement Trade, Software Vs. Hardware, & Trump's High Stakes Mar-A-Lago Meetings 12/29/25

Sara Eisen, and David Faber began the hour with a look at the precious metals rally - and why it's tied to the debasement trade - before discussing the broader market outlook with Trivariate's Adam Parker. Plus: is it time to go from hardware to software? Hear one veteran tech investor's take on why 2026 will see "mindblowing" advancements in the latter sector - and what it means for stocks... and former DOJ antitrust watchdog Jonathan Kanter's opinion on whether Nvidia's GROQ deal is a new way for companies to avoid scrutiny from regulators. Also in focus: a high stakes meeting today between the President and Israeli Prime Minister Benjamin Netanyahu - the team discussed the latest and what's at stake with former Council on Foreign Relations head Richard Haass.  Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

David Faber and Sara Eisen kicked off the final trading week of 2025 with the precious metals rally taking a breather after silver topped $80 an ounce for the first time. Stocks also pulled back after the S&P 500 hit an all-time intraday high on Friday. Former Federal Reserve economist Claudia Sahm offered her 2026 outlook for the economy, inflation and the Fed. The anchors reacted to Lululemon founder Chip Wilson's decision to launch a proxy fight in an effort to shake up the company's board. Also in focus: Softbank ramps up its AI strategy with a $4 billion deal, the "Magnificent 7" gap that could widen in the new year, riding the financials rally into 2026.Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The second hour of CNBC’s "Squawk on the Street" with Carl Quintanilla and Sara Eisen is broadcast each weekday from the floor of the New York Stock Exchange, with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds.Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Brian Sullivan, Morgan Brennan and Dominic Chu discussed fresh record highs for the S&P 500, sparking investor hopes for a "Santa Claus rally." Gold, silver and platinum also hit new all-time highs. David Faber outlined details of the story he broke shortly after the close of trading on Christmas Eve: Nvidia agreed to acquire assets from chip design startup Groq for $20 billion.  Elon Musk's Tesla and SpaceX in the spotlight -- a former Tesla board member shares his 2026 expectations for both companies. Also in focus: The stocks that have more than doubled and tripled returns this year, defense sector strength, the outlook for Lululemon and Nike shares after a rough 2025, Strategy goes defensive on bitcoin, tech's Christmas winners.Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Wharton School Professor Jeremy Siegel reacts to this morning’s jobless claims number, plus lays out some under the radar risk to the market. Then Crypto’s latest lobbying effort isn’t such a new idea. A look at the industry’s push into hospitality. And a multi-billion-dollar deal in pharma. The outlook for M&A and some names to watch. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

On the final trading day before Christmas, Carl Quintanilla and Melissa Lee explored Wall Street hopes for a "Santa Claus rally" one day after the S&P 500 hit a new record high. Oakmark Funds' Bill Nygren shared his outlook for the markets, as well as his take on the battle for Warner Bros. Discovery. Harris Oakmark is WBD's fifth-largest shareholder. Retail veteran Jan Kniffen offered his perspective on stores and the consumer as the holiday shopping season hits the homestretch. Also in focus: Nike shares rise thanks to Apple CEO Tim Cook, the Nvidia connection to Intel shares falling, the financial sector's rally to all-time highs, President Trump expects rate cuts from a new Fed chair, gold's record run, what crypto and a dive bar have in common.Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Cramer says this semiconductor giant ‘should not be down.’ Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The FDA approving the first GLP-1 pill for obesity from Wegovy maker Novo Nordisk. CNBC speaking with the CEO about expanding access and how the pill will increase the company’s competitive edge. Then, former U.K. Treasury Minister Jim O’Neill. His outlook for global markets. And President Trump saying “aggressive housing reform” is coming next year. UBS helps look at possible policy changes and the impact to stocks in the sector. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer led off show with the weight loss drug wars: Shares of Novo Nordisk shares surged after the FDA approved the company's Wegovy pill — making it the first oral GLP-1 cleared by regulators for treatment of obesity. ServiceNow CEO Bill McDermott joined the program to discuss his company's deal to acquire cybersecurity startup Armis for $7.75 billion in cash. Hear what McDermott had to say about this year's slump in shares of ServiceNow and other software stocks. Also in focus: Q3 GDP shows 4.3% growth, the AI trade, countdown to Christmas and new data on holiday spending, Tesla gets a big price target boost on Wall Street, the stock that's getting a lift from President Trump's battleship announcement. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Cramer says he doesn’t want to ‘chase’ this software giant. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.