SOTS 2nd Hour: Apollo's Chief Economist, Fmr. Fed Vice Chair Talks Policy, & Exclusive: Oaktree's Howard Marks 10/13/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 13 October 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks starting the week in the green after Friday's sell-off: Sara Eisen and Michael Santoli kicked off the hour looking at the state of trade when it comes to China (on the heels of new Imports/Exports data) before Apollo's Chief Economist Torsten Slok gave his take on the overall market picture... and later on, former Fed Vice Chair Lael Brainard joined the team with her predictions when it comes to monetary policy. Plus: the playbook for the Big Banks according to one sector expert, as they kick off a make-or-break week of earnings starting tomorrow. Also in focus: a deep-dive you don't want to miss with Oaktree Co-Chairman Howard Marks... Hear more on how he sees the current market environment, as he marks *35 years* of writing his famous memos - and whether he says the AI trade is a bubble.

Transcript

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0:00.0	Good Monday morning again. Welcome to Spock on the Street. I'm Sarah Eisen with Mike Santoli.
0:03.8	Today we are live from post nine of the New York Stock Exchange. Carl Kintanilla is off. David Faber will join us next hour with the new co-CEOs of Oracle. That stock rallying more than 5% on its analyst day. As for overall markets, there is relief today. The SP is up 1.5%. As President Trump says, it'll be okay on China.
0:22.0	A bit of reversal in tone than we got on Friday, which spooked the market. The S&P is up 1.5%. As President Trump says, it'll be okay on China.
0:21.6	A bit of a reversal in tone than we got on Friday, which spooked the market.
0:24.6	But technology, communication services, materials leading this market right now.
0:28.6	Only staples are lower at the moment.
0:30.6	Remember, bond markets close for Columbus Day.
0:33.6	Today, Howard Marks joins us to discuss how he sees the current market environment as he marks
0:38.6	35 years of writing his famous memos for Wall Street.
0:41.8	He's known for predicting bubbles.
0:43.7	We'll get his take on whether we're seeing a bubble right now in AI or whether this time is
0:47.9	different coming up.
0:49.5	And as bank earnings set to kick off, KBW's Tommy Show will tell us what to expect from
0:53.9	that space.
0:55.0	But Mike, I wanted to start with a deep dive on China. Why? Because with all this talk and worry now about China trade and new tariffs, we did get some data overnight on Chinese imports and exports. And guess what? They were both a lot better than were expected.
1:10.0	Chinese imports up 7.4%.
1:13.0	Again, the street with economists,
1:14.6	we're looking for less than 2%, exports up 8.4%.
1:18.5	So China, as a trading nation,
1:21.2	is actually doing just fine even without the US.
1:24.0	The most stunning standout here in this release
1:27.0	is the 27% drop in exports to the United
	...

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