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Squawk on the Street

SOTS 2nd Hour: Apple’s AI Investment, Doge Demand Pushback, Largest Crypto Heist Ever 2/24/25

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 24 February 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Sara Eisen and David Faber began the hour by discussing the big week ahead for investors, as tech giant Nvidia gets set to report results. The desk also brought in Deirdre Bosa to discuss Apple’s expansion plans, announcing it will open a new factory for AI servers in Texas as part of a $500 billion investment in the U.S. Later in the show, Eamon Javers reported on the big DOGE demand pushback, after Elon Musk said government workers must detail their workweek or risk losing their jobs. Also in the mix; Mackenzie Sigalos detailed the largest crypto heist in history, involving $1.5 billion worth of digital assets. Squawk on the Street Disclaimer

Transcript

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0:00.0

Good Monday morning. Welcome to another hour of squawk on the street. I'm Sarah Eisen with Carl

0:04.7

Kintania and David Faber live at post nine of the New York Stock Exchange. Take a look at stocks after

0:09.4

ugly session Friday and last week. We've just turned lower on the day. We started higher for the

0:15.5

S&P 500 down two tenths now. So that was a little tentative. We're seeing the Dow's still higher by 22 points.

0:22.3

As for Treasuries, again, the move has been to buy Treasuries, putting pressure on yields. The tenure

0:28.1

lower again today, 4.41. The two-year are just holding steady at 4.2. We're 30 minutes here

0:34.7

into the trading session. Here are some of the big movers we're watching. Shares of Robin Hood under pressure despite some positive news. The trading platform

0:40.8

says the SEC has dismissed an investigation into its crypto unit, the latest sign of

0:45.9

easing regulations for that industry. Stocks down, though, 3.37%. It's been a big winner.

0:51.6

Shares of Domino's pizza sliding after Q4 revenue and earnings missed expectations. Same store sales grew just four tenths of a percent. Domino's up against stiff competition from fast food rivals like McDonald's and Burger King, which stretched their value meal promotions to fuel demand. And then watching Palantir under pressure again on pace for a fourth straight day of

1:11.4

losses. Now down more than 20% in that time, giving back some of the enormous gains we've seen

1:16.7

over the past year. Again, the stock is still up 20% this year and a few hundred over the last

1:22.1

year or so. But guys, it's another big week of Catalyst. We have earnings to watch, including

1:27.1

the mother of all earnings, Invidia in the middle of the week, some retail earnings.

1:31.5

The big economic report of the week is going to come on Friday with PCE, which is the Fed's preferred inflation measure amid some questions about stickier inflation and what the Fed is going to do next.

1:42.2

I'll also be watching carefully consumer confidence, which comes out tomorrow from the conference board, because we start the week

1:49.8

concerned a little bit about the economy, wobbles, potentially in the consumer. Look, the Walmart

1:57.0

earnings, whenever Walmart sells off like this, whether it was positioning

2:01.2

or just everybody had been on the side of the trade. It was the guidance, really, not the earnings

2:04.7

themselves. Yeah, and the stock was up 80% in earnings on the year. But just I wanted to highlight

2:10.1

one of the comments because I think this is starting to work through company's minds and

2:14.7

psyches and potentially investment. We're not going to be completely immune to

...

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