SOTS 2nd Hour: Earnings Season Rolls on, and A Deep-Dive With Morgan Stanley’s CEO 10/16/24
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 16 October 2024
⏱️ 46 minutes
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| 0:00.0 | Good Wednesday morning. Welcome to another hour's walk in the street. I'm Carl |
| 0:11.4 | Kintanilla with David Faber here at Post 9 of the New York Stock Exchange. Sarah |
| 0:15.1 | Eisen is live from 30 Rock this hour. Markets appreciating some of the earnings we're getting |
| 0:20.0 | as we continue to chip away |
| 0:21.2 | at Q3 results at Morgan Stanley and United Airlines among the highlights today, although the |
| 0:25.8 | S&P's down a touch once again approaching 5,800. Treasury is a little bit of relief as the |
| 0:31.5 | tenure works its way back to 4%. Not much data or Fed speak today, although we did get export |
| 0:37.4 | and import prices era. |
| 0:39.4 | Yes, 30 minutes here into the trading session. Here are some movers we're watching. |
| 0:43.6 | More results out of the financials, regionals like Citizens Financial, U.S. Bank Corp, First Horizon, all on the move. |
| 0:49.3 | Plus check out shares of Morgan Stanley, the last of the big banks to report. |
| 0:52.7 | It's having a good day, especially good day, |
| 0:55.0 | up 7.5%. We're going to break down the numbers with CEO Ted Pick in just a moment. Transportation |
| 1:00.3 | stocks also on the move, United Airlines and JV. Hunt, both calling out strengthening demand in their |
| 1:05.6 | markets with United raising forecasts, and the airlines are having a good day today as well. Look at United |
| 1:10.6 | up more than 9%. Retail, focus luxury name LvMH missing estimates |
| 1:16.2 | calling the outlook uncertain while Adidas just raised its profit target for the |
| 1:19.8 | third time in a row and that's guys where I would love to start which is the |
| 1:24.7 | state of the consumer we do get the big retail sales number out tomorrow. |
| 1:29.1 | We'll also get jobless claims, expect them to be skewed because of the hurricane. |
| 1:32.4 | But retail sales really important because more than 70% of our economy is driven by consumption. |
| 1:37.5 | And if we want to know where the economy is going, look at the consumer. So let's go to the |
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