9AM HOUR: After the Massive Sell-Off and AI Rout, NEC Director Hassett on Jobs and Post-Election Markets 11/6/26
Summary
Hosts discuss the market's attempt to recover from a major tech sell-off, analyzing whether the AI trade has peaked or is merely experiencing a liquidity-driven correction similar to 1998. National Economic Council Director Kevin Hassett highlights strong October jobs data and defends the federalist approach to data center development, while Jim Cramer warns that the recent "blue wave" election results have not been fully priced into valuations.
Topics discussed
Sponsor: Schwab thinkorswim trading platform
Market open: Stocks bounce after rout, jobs beat
Jobs report details and Texas data center regulations
Semiconductor sector decline and AI trade concerns
Market analysis: Hedges, liquidity, and valuation
AI compute demand and comparison to 2000 dot-com
Texas Governor-elect on data center protections
Mortgage rates and President Trump's market comments
Federalist view on data centers and local control
NEC Director Hassett on strong job growth and factories
Wealth effects, Fed policy, and data center uncertainty
Supply-side growth, inflation, and Intel's turnaround
Sponsors: Vantage Score and Wise
Jim Cramer joins: Market sentiment and 2028 outlook
Semiconductor support levels and OpenAI spending
Safety stocks hit and data center construction delays
SpaceX, Tesla, and data center location debates
Eli Lilly, AI longevity narrative, and Airbnb
Hedge fund performance and '98 comparison
Caterpillar, Dell, and AMD rebound analysis
Blue wave election impact and credit delinquencies
Cramer's annual meeting banter and Charter earnings
Market close summary and sector rotation
1998 comparison and valuation compression
Dispersion trade failure and wage/margin outlook
Sponsors: Acura and Cosentix
PayPal CEO interview preview and infrastructure debate
Hour recap and disclaimer
Listen ad-free on Castria