Iran-Israel Tensions and a Relief Rally, Goldman's Big Beat, Tesla and Apple Under Pressure 4/15/24

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 15 April 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

After Friday's sell-off, Carl Quintanilla, David Faber and Sara Eisen discussed what to expect from a busy new week of trading. Stocks rebounded and crude oil prices pulled back from a weekend spike after Iran's Saturday drone and missile attack against Israel -- with markets hoping there will be no escalation of the conflict between the two countries. A former ambassador joined the program with his take on Middle East tensions. Also in focus: A blowout quarter for Goldman Sachs, Tesla falls after reports of job cuts, Apple shares pull back on data showing iPhone shipments down almost 10% in Q1, DJT shares slide as former President Trump's criminal trial gets underway in New York. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintania, on the opening bell hour of CNBC Squawk on the Street.
0:08.5	Good Monday morning, welcome to Squawk on the Street. I'm Carl Kintania with David Faber, Sarah Eisen at Post 9 of the New York Stock Exchange.
0:14.2	Kramer has the morning off. Future is solid as global markets look for some de-escalation in the Middle East.
0:19.4	But we're close to session highs of the
0:21.9	morning as March retail sales crush estimates, strongest control group in over a year, 10-year-4-6.
0:27.8	Robat begins with these geopolitical risks for stocks, futures rallying on hopes that the conflict
0:32.9	will not escalate further.
0:34.6	Plus, Tesla cuts reportedly set to lay off more than 10% of it staffed
0:39.0	globally. CEO Elon Musk saying the company is looking for cost reductions and increased productivity.
0:45.2	And financials in focus again, Goldman Sachs topping first quarter estimates fueled by trading and
0:50.7	investment banking. Begin by kicking off a new week for the markets.
0:55.0	Geopolitics, obviously, on the front burner guys.
0:57.2	We're watching some of the risk premium in oil back below 85.
1:01.7	Brent, I think, off of 90 once again.
1:03.8	But what an eventful weekend?
1:05.5	I think some people might be surprised to come in and see oil prices lower after the events of the weekend.
1:10.4	I'm just going through some of the research Eurasia Group, which is a big commentator on geopolitics
1:15.5	that Wall Street likes to read, says the size and scale of the assault by Iran is greater than
1:20.1	Eurasia Group anticipated.
1:22.2	But, you know, there is hope, as you say, Carl, and potentially some signs that we might have a diplomatic
1:29.0	sort of response by this.
1:33.2	It's certainly what the U.S. is encouraging.
	...

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