Nvidia's Groq deal, S&P's winning week, leather tariffs and more in Morning Squawk

As traders return from the Christmas holiday, stock futures are steady, with the three major indices poised for weekly gains. This morning's updates shed light on significant developments that could impact investor strategies. In a groundbreaking move, Nvidia has announced its decision to acquire assets from the chip startup Groq for an impressive $20 billion in cash. According to CNBC's David Faber, this deal marks Nvidia's largest acquisition to date, far surpassing its previous record set in 2019 when it purchased Israeli chip designer Mellanox for around $7 billion. Groq's founder and CEO, Jonathan Ross, along with president Sunny Madra and other key executives, are set to join Nvidia to help enhance and scale the acquired technology. In other news, Google appears to be making strides in user account management. Recent updates on its support page indicate that users will soon be able to change their existing @gmail.com addresses while retaining all associated data and services. However, it's worth noting that this information currently appears only in the Hindi version, hinting that the rollout might initially target India and Hindi-speaking regions. Meanwhile, Waymo has temporarily halted its robotaxi service in the San Francisco Bay Area in anticipation of severe weather conditions. The Alphabet-owned company announced this decision via its self-driving ride-hailing app. This follows a recent incident where service was suspended during a power outage, causing some autonomous vehicles to become stranded in traffic and contributing to congestion. On another front, rising tariffs and supply chain issues are inflating the prices of leather goods across the retail sector. Tapestry, the parent company of renowned handbag brands Coach and Kate Spade, has reported increased costs, with executives estimating that tariff-related expenses could reach $160 million, impacting profits. The Yale Budget Lab forecasts that consumers can expect leather goods to remain nearly 22% more expensive for the next one to two years, largely due to elevated tariffs affecting imports from countries like China, Vietnam, Italy, and India. Stay informed and prepare for the trading week ahead with these critical insights.