Countdown to David Faber's Elon Musk Interview, Home Depot's Sales Miss and Lowered Guidance 5/16/23

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 16 May 2023

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla Jim Cramer and David Faber began the show with a wide-ranging discussion on what to expect from David's live interview with Elon Musk. The CNBC Special Presentation airs Tuesday night at 6pm Eastern. A double whammy on the retail front: Shares of Home Depot fell after the company cut full-year guidance posted its biggest quarterly revenue miss in about 20 years, while government data showed April retail sales rose by only half of what economists had been expecting. Also in focus: Debt ceiling talks scheduled to resume Tuesday in Washington, the FTC vs. the Amgen-Horizon Therapeutics deal, Capital One shares jump on the "Warren Buffett effect." Squawk on the Street Disclaimer

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0:00.0	Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:05.9	Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kinteneer with Jim Kramer at the New York Stock Exchange.
0:10.3	David Fabers in Austin at Tesla's annual shareholder meeting day, and he'll be live with Elon Musk tonight.
0:16.8	A CNBC special presentation, 6 o'clock Eastern Time. You cannot miss that.
0:21.8	Meantime, it's a packed morning.
0:23.1	Retail sales returns to growth.
0:25.1	Debt ceiling, Home Depot cuts guidance, some big misses in China and Europe.
0:28.8	A roadmap begins with Home Depot shares sinking.
0:31.6	Retailer lowers this forecast after posting the worst revenue miss in about 20 years.
0:36.5	Plus, quote, no barrier to higher rates.
0:38.4	That's the message from Barkin today if inflation persists and EV competition.
0:43.7	David is in Texas to talk to Elon Musk and Ford scaling back some China investments.
0:50.3	Let's get to David and Texas with more on tonight, David.
0:53.2	And we were just talking about the range of topics that you'll be able to cover, whether it's cars, space, media, macro.
1:00.7	It's going to be incredible.
1:03.4	Well, we certainly hope so.
1:05.0	Obviously, we'll be coming out of the Tesla shareholder meeting.
1:07.5	So we're curious to see what questions Mr. Musk takes during that meeting,
1:11.1	whether there's anything that's worthy of follow-up. Certainly that will be top of mind, guys,
1:15.4	especially given the interest, certainly of our viewers as well in terms of Tesla and its importance.
1:20.5	That said, Carl, you're right. There is no shortage of other topics, as always, to discuss with
1:25.3	Mr. Musk. And as often as he may do interviews or
	...

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