SOTS 2nd Hour: Big Tech on Deck, RFK Jr. Confirmation Hearing, and Fed Expectations 1/29/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 29 January 2025

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Carl Quintanilla, Sara Eisen, and David Faber discussed the latest for stocks on a busy day for earnings (with Meta, Microsoft *and* Tesla after the bell), plus another Fed decision on deck. Within the hour: Goldman’s Head of Corporate Credit broke down why he’s ‘bond bullish’, the team talked what to expect out of Tesla with one analyst forecasting growth ahead (plus the key figures to watch for Meta and Microsoft), and debated key commentary out of T-Mobile and Starbucks driving both names higher. Plus, another downgrade for Apple, this time out of Oppenheimer – the analyst behind that call joined the broadcast to tell us why. Also in focus: Robert F. Kennedy Jr’s confirmation hearing on Capitol Hill; Trump’s Funding Freeze confusion; and why markets expect a pause from the Fed today. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Good Wednesday morning. Welcome to another hour of squawk on the street. I'm Sarah Eisen with Carl Cantonia and David Faber, live as always from post nine of the New York Stock Exchange. Take a look at stocks here in the early going. We're down on the S&P 500, about two-tenths of a percent, so nothing extreme like we saw earlier in the week. NASDAQ, down half a percent, giving back some of yesterday's gains. The Dow remains higher by 51 points. It's all about
0:21.5	the bond market today. It's Fed Day. And we've seen this follow through on buying a bonds.
0:27.3	Yields lower, 4.5 on the 10-year, two-year or just below 4.2. We'll talk about what to expect
0:33.3	from the Fed meeting in just a bit.
0:34.8	In the meantime, it's a very big morning on Capitol Hill. Senate Finance kicks off their confirmation hearing for Robert F. Kennedy Jr.
0:40.9	to become Secretary of Health and Human Services.
0:43.7	And President Trump's Commerce Secretary pick, Howard Lucknick,
0:46.5	testifies before Senate Commerce, Science and Transportation.
0:50.1	At his hearing, we're going to bring you the headlines as they happen later this hour.
0:56.0	Particularly watching those pharma and food stocks. We are 30 minutes here into the session.
0:58.0	Here are three big movers we're watching.
1:00.0	T-Mobile gaining beating estimates thanks to continued growth in wireless subscribers and home internet customers.
1:06.0	Stocks up 8.5%.
1:08.0	Starbucks also in the green despite a sales decline. Many on the street calling
1:12.1	the numbers better than feared, with more than eight firms raising their price targets on the name
1:16.6	this morning. More highlights from the CEO in just a bit. And then watch big tech today with
1:21.5	Microsoft, Meta, and Tesla, all set to report results in just a few hours. More on the Mag 7 names
1:28.5	coming up.
1:33.7	But guys, it's Fed Day, and not a lot of drama expected in today's Fed announcement.
1:37.0	The Fed is expected to pause for the first time since September,
1:40.9	after about 100 basis points of cuts that started in September.
1:44.6	The question going into today that I have and that I think investors have is March on the table. The market is upping the odds of a March rate cut. You don't get one
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.