Retail Sales Slump, The Trump Trade, Gamestop’s Crypto Ambitions 02/14/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 14 February 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Leslie Picker, and Mike Santoli began the hour by breaking down the markets a day after the S&P posted its best day in about a month. The anchors worked in this morning’s key economic data, with retail sales slumping 0.9% in January, down much more than expected. Eamon Javers also joined the program live from the White House to discuss President Trump announcing his plan for reciprocal tariffs. After the opening bells, the anchors hit the biggest morning movers including Coinbase, Airbnb and Gamestop, which is reportedly considering investing in bitcoin and other cryptocurrencies. 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.
0:12.4	Good Friday morning.
0:14.0	Welcome to Squawk on the street.
0:15.5	I'm Carl Kintenea with Leslie Picker, Mike Santoli,
0:17.6	post-9 of the New York Stock Exchange.
0:19.4	Kramer in favor of the morning off.
0:20.8	Pre-market pretty steady. S&P on track for a positive week, but yields a bit lower here as we get the
0:25.9	worst drop in monthly retail sales in nearly two years, 10 years back below four and a half ahead of
0:31.7	that long holiday weekend. A roadmap that this morning goes with the trade trade.
0:36.6	Investors continuing to digest delayed tariff plans from the president as we close out this third week of the new administration.
0:42.3	Plus shares of Airbnb and Roku surging after earnings beats,
0:45.3	Moderna Palo Alto and Amat heading in the opposite direction will break down all the movers of the morning,
0:53.3	including GameStop, which is considering investing in Bitcoin and other cryptocurrencies, shares moving higher ahead of the open.
1:01.8	Let's get right to the markets. S&P is coming off the best performance in about a month, Mike. We had a couple of losing weeks. We're going to try to repair some of that, although we had a discussion yesterday about seasonals
1:12.8	and what the rest of February is going to look like.
1:15.4	Yes, so it turns a little bit less favorable.
1:17.5	I think the way I would characterize that is with such a strong start
1:19.9	to the year.
1:20.2	By the way, the S&P is up just about 4% near to date already.
1:22.9	We're six weeks into it or so.
	...

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