Microsoft and Meta Blowouts Fuel Tech Rally 05/01/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 1 May 2025

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber discussed blowout quarterly results from Microsoft and Meta that sparked a rally in the tech sector -- as the Dow and S&P 500 aim to extend their respective daily win streaks to eight. The anchors also reacted to Tesla's denial of a report stating the company's board opened a search for a successor to CEO Elon Musk. Also in focus: Eli Lilly and McDonald's join the earnings parade, Softbank CEO Masa Son on China and AI, President Trump's "two dolls" comment on tariffs.

Transcript

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0:00.0	Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:11.3	Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Cantonia with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange.
0:17.3	Big Tech coming to the Bulls Rescue as Meta and Microsoft earnings offset this continued
0:21.8	cloudy outlook on trade talks. Challenger layoffs jump another 63% for April. Jobless claims
0:28.2	two-month high. A roadmap begins with this tech-fueled rally. As we said, Meta, Microsoft
0:32.6	helping to ease concerns that AI spending will slow amid this economic turmoil.
0:37.8	Plus, Tesla's board is denying a report that it was at least beginning the process of replacing
0:43.3	Elon Musk.
0:44.5	This coming as the Tesla CEO steps back from Washington and his Doge responsibility.
0:49.1	The president saying, quote, he wants to get back home to his cars.
0:53.5	And the trade head wins for business.
0:55.4	McDonald's saying consumers are grappling with uncertainty while GM expects up to as much as a $5 billion hit from tariffs.
1:03.5	Let's begin, though, with this morning's big market catalyst.
1:06.4	That is Microsoft and Meta posting blowout results, Jim.
1:09.6	This could be the best earnings reaction on Microsoft in about three years.
1:14.5	Well, Microsoft had guided three times bad.
1:17.1	So suddenly you get on this call, and not only do, they just crush it.
1:20.6	They guide higher, and there's glee on the call.
1:24.5	It's glee.
1:25.5	Amy Hood is happy.
1:27.0	Sotian Adele is happy. They correct people if anyone is less
1:31.1	happy. It was just, David, a happy call. It was a happy call. And you're right. And I think it's an
	...

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