Markets and U.S.-U.K. Trade, Trump: "Powell Is a Fool," Arm Shares Slump 5/8/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 8 May 2025

⏱️ 46 minutes

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Summary

Carl Quintanilla, David Faber and Mike Santoli discussed positive market sentiment in reaction to President Trump saying he would announce a trade agreement on Thursday with the United Kingdom, though the U.K. refers to it as a framework. The anchors reacted to Trump calling Jerome Powell a "fool" one day after the Fed held interest rates steady. Also in focus: Arm Holdings slides on weak guidance, sources tell David that Warner Bros. Discovery is moving toward a split of the company, Shopify's president joins the show to discuss quarterly results and tariffs. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here.
0:01.3	You're listening to the opening bell of CBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:14.0	Good Thursday morning.
0:15.0	Welcome to Squawk on the Street.
0:16.0	I'm Carl Kintanian with David Faber, Mike Santoli,
0:18.1	at Post 9 of the New York Stock Exchange.
0:19.8	Kramer has the morning off.
0:21.1	Bulls take another shot at that April to close as the president touts a free trade framework with the UK,
0:27.6	although some reports suggest it may be limited in scope. Bank of England cuts 25, tons of consumer
0:32.8	earnings on the tape with Shopify, Warner Tapestry, and others.
0:36.7	Robat begins with the president, said to announce what he's calling a full and comprehensive
0:41.1	trade agreement with the UK.
0:42.9	For its part, the UK does call it a framework.
0:45.8	President set to make comments from the Oval in about an hour.
0:49.2	Also this morning, President Trump is ramping up his criticism of Jerome Powell, calling him
0:53.4	the fool one day after the Fed held steady, of course, on interest rates.
0:58.0	Keeping in line, shares of armed holdings, they are down somewhat sharply, despite what at least were results that were better than many had anticipated.
1:06.4	Maybe the guidance, of course, that's below, hard to really deliver at this point that is sending
1:11.9	the stock lower. Company CEO, Renee Haas, is going to join us. That'll be in the next hour.
1:17.8	Let's get right to the markets this morning. A day after the Fed did hold rate steady
1:21.1	and investors look ahead to this trade announcement from the president in the next hour.
	...

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