Squawk on the Street

The hosts kick things off with U.S. strikes in Venezuela, leading to Maduro's capture and his looming court appearance. They discuss Chevron's stock surge as investors eye potential access to Venezuela's oil reserves, despite infrastructure challenges. There's a pivot to the AI trade, with excitement building ahead of Nvidia's CEO announcement at CES. The debut of Versant Media as an independent company on the Nasdaq also makes headlines, raising questions about future growth while the bank sector sees strong momentum due to deregulation benefits.

Steve Sosnick, Chief Strategist at Interactive Brokers, analyzes global market trends, emphasizing the impact of retail investors and market risks in 2026. Craig Irwin, Managing Director at Roth Capital Partners, discusses Tesla's shift towards robotics and energy storage, highlighting challenges and competition in the automotive sector. Jack Hittery, CEO of SandboxAQ, shares insights on the rapid advancements in AI and robotics, predicting significant growth in humanoid technology and raising concerns about cybersecurity after recent hacks.

David Zervos, Chief Market Strategist at Jefferies, shares insights on a more dovish Fed and a bullish outlook for the S&P 500 in 2026. Automotive reporter Phil LeBeau reveals a disappointing 16% drop in Tesla's Q4 deliveries, questioning their near-term sales strategies. Mike Santoli discusses market momentum and sector rotations, highlighting strength in mega-tech stocks like Nvidia and Apple. The panel also touches on implications of delayed furniture tariffs and evolving dynamics in consumer sectors.

Wes Cummins, the CEO of Applied Digital, shares insights on his company's spin-out of its cloud business, aiming to eliminate customer conflicts during a booming data center demand. Noted economist Mohamed El-Erian discusses the paradox of rising unemployment despite strong GDP growth and the complexities AI brings to the Federal Reserve's strategies. He emphasizes the need for strategic leadership in tackling economic risks posed by AI adoption while advocating for labor-enhancing measures in navigating future challenges.

Mike Santoli, a senior markets commentator, analyzes the strong gains of 2025 and the risks of market concentration heading into a potentially late-phase bull market. Alan Blinder, former Fed Vice Chair, shares his insights on Fed policy, predicting the impacts of AI on employment and the economy in the coming years. They explore exciting developments with Apple’s AI features and the implications of hyperscaler spending on key tech firms like Nvidia and Taiwan Semiconductor, highlighting significant moves in the stock market as 2025 wraps up.

Dan Greenhouse, Chief Market Strategist at Solus Alternative Asset Management, shares his insights on the bullish case for stocks, driven by AI spending and consumer resilience. The discussion also delves into SoftBank's massive $40 billion commitment to OpenAI and what it means for the tech landscape. They explore Meta's recent acquisition aimed at enhancing AI agents and highlight Guggenheim's unexpected retail picks for 2026, while examining the impacts of holiday return trends on retailers and the innovative role of AI in restaurants.

Mike Santoli, a senior markets commentator at CNBC, provides insightful analysis on market trends and investment themes. He discusses the recent rebound in precious metals and the impact of a weaker dollar on commodities. Stacey Rasgen, a senior semiconductor analyst at Bernstein, dives into the AI-driven semiconductor cycle, emphasizing the significance of SoftBank's $40 billion investment in OpenAI. They explore the competitive landscape of AI hardware, including the dynamics between GPUs and TPUs, while touching on major industry players and their strategies.

In this discussion, Adam Parker, Founder of Trivariate Research, underscores the significance of earnings growth over valuations for market performance in 2026. Jonathan Kanter, a former antitrust prosecutor, analyzes Nvidia's unique Groq deal and its implications for regulatory scrutiny. Richard Haass, President Emeritus of the Council on Foreign Relations, shares insights on the fragile state of Middle East diplomacy, particularly regarding Israel and Iran, stressing the challenges of achieving peace in the region.

Claudia Sahm, a former Federal Reserve economist and chief economist at New Century Advisors, shares her optimistic outlook for the 2026 economy focusing on the labor market and fiscal stimulus. She discusses the potential rise in unemployment and implications for Federal Reserve policy, particularly regarding expected rate cuts. The conversation also touches on how to measure AI's productivity impact and the challenges of detecting gains in broad data. Sahm's insights provide a thought-provoking perspective on the economic landscape ahead.

Torsten Slock, Chief Economist at Apollo Global Management, dives into the surprising economic tailwinds boosting growth into 2026, thanks to lower oil prices and easing trade tensions. He highlights the risks of AI concentration in markets and discusses Japan's unique currency dynamics and capital flows from U.S. Treasuries. Slock also examines the Fed's cautious approach to rate cuts amid persistent inflation. The conversation is packed with insights on market movers and the potential impact on investors.