Market rotation, the Fed's Kevins, Netflix's 'Star Wars' moment and more in Morning Squawk
Here are five key things investors need to know to start the trading day.
TL;DR
- Investors rotated out of AI stocks like Broadcom, Oracle, and Nvidia, causing the Nasdaq and S&P 500 to drop.
- The Dow Jones Industrial Average and Russell 2000 rose as traders favored blue-chip and small-cap stocks.
- Potential appointment of Kevin Warsh as the next Federal Reserve chair is being considered by President Trump.
- Dozens of FDA staffers traveled to Singapore for a conference during the government shutdown, costing over a quarter of a million dollars.
- The Trump administration is seeking international help, including from China and South Korea, to boost the U.S. shipbuilding industry.
- Netflix's 'Stranger Things' is concluding, having become a major success story for the streaming service.
- Upcoming economic data includes November nonfarm payrolls and Consumer Price Index (CPI) figures, along with earnings reports from Micron, Darden Restaurants, FedEx, and Nike.