SOTS 2nd Hour: Apollo's Chief Economist, "Why The Fed Shouldn't Cut", and EchoStar Shares Lift-Off 9/8/25

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 8 September 2025

⏱️ 42 minutes

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Summary

Fed independence a growing discussion across Wall Street: Sara Eisen, David Faber, and Carl Quintanilla discussed the latest on the Fed front as the President confirms his finalists for Powell's replacement, ahead of fresh inflation data this week, and Ken Griffin makes headlines with a new opinion piece in the Journal on the topic. Apollo's Chief Economist Torsten Slok joined the team with his take - on a potential rate cut in September - and whether the AI trade is becoming a bubble... While Rockefeller's Ruchir Sharma took the other side: giving his reasons why the Fed should not cut here. Plus: Tech stocks rallying ahead of an Apple event tomorrow - with a key focus on new iPhones... More on what it could mean for shares of the laggard this hour. Other key stories? What Echostar's new deal with Starlink means for the rest of telecom - as shares pop double digits... Plus: a deep-dive on PNC's latest acquisition, and Howard Stern's newest prank that hit SiriusXM shares in the early trade. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Monday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Cantania and David Faber.
0:05.3	All this back together, live at Post 9 from the New York Stock Exchange. Stock's kicking off the week
0:09.1	in the green, looking at the S&P at least, up about two-tenths of a percent. Tech leads, NASDAQ up seven-tenths, Dow lags, down 84 points.
0:16.9	And what is usually a tricky seasonal month of September, taking a look at treasuries, holding
0:23.9	most of the rally that we saw after jobs with a tenure. Look, down to 405. So actually, I'm making
0:30.3	new lows here. More buying of treasuries into the Fed meeting next week, into the inflation
0:34.6	report. This week, the two-year yield sits just below 3.5.
0:37.9	Coming up this hour, Apollo's Torsten-Slock joins us ahead of a huge week of potentially
0:42.1	market-moving inflation data. Plus Rockefeller's Roosier-Sharma out with a new financial
0:47.2	times piece urging the Fed not to cut rates at next week's meeting. He will join us to make that
0:53.9	case. And Apple's getting ready
0:55.3	for a major hardware announcement. We'll talk about whether or not tomorrow's event can get Apple
1:00.2	back into the green for the year. Right now, it looks like just technology, communication
1:04.7	services, and consumer discretionary groups are positive in the S&P 500. But guys, what stood out to
1:10.1	me this morning is the amount of notable folks weighing in on the
1:14.9	Fed, Fed independence.
1:17.5	There was an op-ed from Ken Griffin, of course, the founder and CEO of one of the world's
1:23.5	most successful hedge fund, Citadel, and also a big, a GOP donor in the past.
1:29.4	And one of the most successful pro trading firms as well and market makers.
1:32.7	True.
1:33.1	With Citadel, yeah, it's other business.
1:34.7	Citadel securities is not insignificant either.
	...

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