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Squawk on the Street

SOTS 2nd Hour: Big Tech On Deck, Huawei vs. Nvidia, and Spring Selling Concerns 4/28/25

Squawk on the Street

CNBC

Business, Investing, News

4.1567 Ratings

🗓️ 28 April 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

A weekend of mixed messaging on tariffs from the White House and Beijing – Sara Eisen, David Faber, and Michael Santoli broke down the latest for stocks on a busy week for data and earnings. Why one Wells Fargo CIO says it’s growth and not inflation to worry about here. Plus, how to prep for earnings out of: Meta, Amazon, Apple and more – as tariff impacts remain unknown… And the Journal reports Huawei is taking on Nvidia with homegrown AI chips of their own. Also in focus: a live read from the ground in Beijing, as officials there say Xi has not yet talked to President Trump about trade – alongside one former Commerce Secretary’s take on what comes next… Plus, a deep dive on one big change coming to the housing market’s spring selling season. 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 David Faber and Mike Santoli today, live from post nine of the New York Stock Exchange.

0:07.7

Stocks unchanged on the S&P a little bit lower, and that's because information technology is the worst performing sector, along with utilities and communication services.

0:16.3

Invidia, down two and a half percent. Part of the story there, But there's strength. Financials are up half a percent.

0:22.0

Industrials, materials. Some of the cyclical groups are catching a bid this early Monday morning. Nasdaq down half a percent.

0:28.6

Dow actually remains higher, which I think reflects the split here in terms of cyclical groups up, tech a little bit down.

0:35.0

What's contributing to the Dow, Goldman Sachs, Caterpillar, Boeing, and Visa.

0:39.0

Take a look at Treasuries and how we're going to kick off the week. Remember, the Fed's in quiet

0:43.2

period ahead of their big meeting next week, so those headlines will diminish. The 10-year yield

0:48.5

pretty unchanged at 4.26%. The two-year yield, 3.74. So we have come back from those elevated levels post, you know, the drama where treasuries were selling off along with stocks.

1:00.2

30 minutes here into the trading session. Here are three big movers we're watching.

1:04.2

Tesla, about flat after coming off its best week in five months and reportedly raising prices across the board for cars sold in Canada.

1:12.6

Separately, Morgan Stanley's Adam Jonas out with a new note, bullish on the company's robotics

1:16.6

technology. Stockler is a little bit higher now. Speaking of big tech, watching Apple as well,

1:21.8

reporting results this week, Thursday. Morgan Stanley raises their price target on the name to

1:26.4

235 a share ahead of earnings,

1:29.4

while J.P. Morgan is forecasting a better-than-feared report. That's stock giving back a little

1:34.0

today. And then Domino's the latest consumer name to issue earnings. Same store sales there,

1:38.1

falling half a percent, and their CEO calling out a challenging global macroeconomic environment

1:43.9

in the release. But guys, as far as the

1:47.0

week ahead, it's peak earnings week. I mean, we will hear from not just a few of the MAG7,

1:52.4

including Microsoft and Meta, but we're also going to be hearing from a lot of consumer

1:57.7

names. Coca-Cola is tomorrow. Caterpillar on the industrial front.

...

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