Post-Selloff Markets, Steve Cohen on AI, Pivotal Day for Disney 4/3/24

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 3 April 2024

⏱️ 42 minutes

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Summary

Amid investor concerns that the Fed could implement fewer rate cuts than expected this year, Carl Quintanilla, Jim Cramer and David Faber explored what to make of the markets' rough start to Q2. The Dow and S&P coming off their worst day in almost a month. The anchors also reacted to what billionaire hedge fund manager Steve Cohen told CNBC about AI and the markets. Also in focus: Disney shareholder meeting day with the company's battle against Nelson Peltz set to reach a conclusion, Intel shares take a hit, a stronger-than-expected ADP jobs report, Silver Lake to take sports and entertainment company Endeavor private. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street. Don't miss a minute of the action. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanao with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange. Futures are red. Yields still a little bouncy here as ADP comes in the second hot number of the week. Powell speaks at noon, Bostic on Squawk just now reiterating one cut this year.
0:24.1	A roadmap begins with this rough start to Q2, the Dow and the S&P, coming off their worst day in about a month.
0:29.7	With that in mind, you're going to hear what billionaire hedge fund manager, Steve Cohen,
0:33.0	had to say about markets and AI especially.
0:37.0	Plus, it is a pivotal day for Disney.
0:39.3	The company's battle with Nelson Peltz is set to conclude at its annual meeting.
0:44.8	That is set for this afternoon, and we will get the vote totals.
0:48.5	And tomorrow, 9 a.m. right here.
0:51.1	Don't miss it, exclusive with Bob Eiger.
0:56.3	Is it right here? Or is it out there?
1:03.1	It's out there. It's out there. I will be going out there hoping that the high winds that are blanketing the area won't prevent my travel to see Mr. Eiger. And by the way, just to make a point here,
1:09.9	this is not saying anything one way or the other about the vote.
1:12.7	He's going to do the interview.
1:14.8	Either way.
1:17.0	Okay.
1:19.3	Okay.
1:19.9	Is that okay with you?
1:21.3	Well, I'd be more inclined to do the interview if I won.
1:24.5	Yeah.
1:25.0	Well, I think that it's his expectation and or Disney's, as I've
1:28.4	been saying all along, at least, they certainly have had a lot of confidence that they will win.
1:32.3	Right. But I just wanted to make it clear that it is not. You share that kind of way?
	...

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