Squawk on the Street Quantum Stocks Take a Hit, Palantir's Pullback, California Wildfires 01/08/25
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Jan 8, 2025 Quantum computing stocks are experiencing a significant drop after comments from Nvidia's CEO at CES, despite some still soaring over 1,000% in the past year. Palantir continues its downward trend post-record highs. Meanwhile, California wildfires are forcing thousands to evacuate, disrupting lives and impacting market reactions. The discussion also covers rising inflation, interest rates, and notable downgrades of major companies, highlighting the tensions and dynamics currently shaping the financial landscape.
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Market Tied to Yields
- The market is closely tracking bond yields, which are approaching one-year highs.
- Some investors are anticipating a 5% yield on the 10-year Treasury.
California Wildfires
- Devastating wildfires in California are forcing tens of thousands to evacuate.
- Strong Santa Ana winds exceeding 100 mph are fueling the fires' rapid spread.
Cramer's Wildfire Experience
- Jim Cramer recounts a personal experience covering a wildfire in LA.
- He emphasizes the unpredictable and explosive nature of wildfires.