SOTS 2nd Hour: Fed Decision Breakdown, Accenture CEO, & Celtics Deal Latest 3/20/25

Squawk on the Street

CNBC

Investing, News, Business

4.1 • 567 Ratings

🗓️ 20 March 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Another pause from the Fed when it comes to rates – alongside fresh commentary from Chair Jerome Powell: David Faber, Sara Eisen, and Michael Santoli discussed the latest for stocks top of the hour, including the Fed’s new economic projections around inflation and GDP. Plus, Stifel’s Chief Equity Strategist broke down what he’s calling a temporary “Relief Rally” for markets – ahead of a possible slowdown into year-end – and Accenture CEO Julie Sweet talked enterprise demand for AI after new quarterly results from the company. Also in focus: Tesla on pace to add to its longest weekly losing streak ever, the 2 things Wedbush says CEO Elon Musk needs to do to get the stock back on track… A breakdown of headlines that the Boston Celtics have been sold for $6B+… And the Street’s bull case for AI stocks – along with some key names to watch here. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Thursday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with David Faber and Mike Santoli live, as always from post-9 of the New York Stock Exchange.
0:08.0	Stocks started with an early morning slide and we've come back. S&P is now positive, Dow 2, up 23 points. NASDAQ is well, up 2 tenths of 1% as the sentiment improves here early morning.
0:20.3	Take a look at Treasuries post--fed. We've got a lot to talk
0:23.0	about there, but we are seeing a bid for bonds. Yields on the 10-year just below that 2% level,
0:28.6	and the two-year yield below 4%. We are 30 minutes into the trading session. Here are three earnings
0:33.6	movers we're watching. Darden restaurants, the company behind Olive Garden and Longhorn Steakhouse,
0:38.1	higher, despite weaker than expected same store sales, executives on the call saying consumers continue to spend.
0:44.5	Shares of discount retailer, five below, rallying as well on a positive outlook. Same store sales coming in lower,
0:49.6	but they were better than feared. Stock up almost six and a half percent. And Accenture is on the move after a top and bottom line beat.
0:56.8	The company also raising full year guidance, thanks to demand for AI services.
1:01.3	But warning on the call that they are seeing a negative impact from Doge government cuts.
1:06.9	We're going to break down the numbers and that color with the CEO, Julie Sweet, later this hour.
1:12.5	All right, we've got some economic data just crossing the tape.
1:15.0	Rick Santelli has that for us.
1:17.0	Rick.
1:18.5	Yes, leading economic indicators for the month of February, expected down a couple of tenths of a percent coming down three-tenths of percent.
1:26.8	That would have been back-to-bat minus three-tenths, but we had a bit of a revision minus down three tenths of a percent. That would have been back to back
1:28.3	minus three tenths, but we had a bit of a revision. Minus three tenths for January moves up to
1:33.5	minus two tens. Minus three tenths equals where we were in October of last year to find a
1:38.4	bigger negative month over month change. You're going to September of last year. Here's an
1:42.8	interesting factoid. If you look at November, December of last year, those're going to September of last year. Here's an interesting factoid.
1:49.1	If you look at November, December of last year, those were back-to-back positive numbers in a sea of negative. And it was the first time since December and November of 21 that we had back-to-back
	...

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