SOTS 2nd Hour: Iran Analysis - Jack Lew, Sen. John Fetterman, & Goldman's Co-Head of Global Commodities 3/4/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 4 March 2026

⏱️ 43 minutes

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Summary

Carl Quintanilla, David Faber, and Sara Eisen began the hour with a look at the big market moves you might have missed - before getting into JPMorgan Asset Management's playbook for the volatility. Plus: former Treasury Secretary and former U.S. Ambassador to Israel Jack Lew joined the team with his read on what's next in Iran, inflationary impacts, and why he says there's been a disregard for our constitutional process... while Senator John Fetterman took the other side - explaining this hour why he's an outspoken supporter of strikes. Also in focus: wild swings in energy prices as Goldman raises their price forecasts - their Global Co-Head of Commodities broke down the move... And hear from the Chairman & CEO of Victory Capital - as they kick off a bidding war for Asset Manager Janus Henderson. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Wednesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kintanilla and David Faber.
0:05.3	We are live as always from post nine of the New York Stock Exchange.
0:08.4	Coming up this hour, we will talk to former Treasury Secretary and former U.S. ambassador to Israel,
0:13.5	Jack Liu, about the war, the impact on inflation and some breaking details on the administration's tariff plans.
0:20.1	Plus, Democratic Senator John Federman will join us to explain his outspoken support of President
0:25.8	Trump's decision to strike Iran ahead of a key war powers vote later today.
0:31.0	And we're on Supreme Court Watch again as we await a potential decision this hour on President
0:34.7	Trump's authority to fire Fed Governor Lisa Cook.
0:38.2	We'll bring any headlines if we get them as soon as we know.
0:41.9	Let's get some ISM services first with Rick Santelli.
0:44.8	Hey, Rick.
0:46.1	Hi, Carl.
0:47.2	Well, we know that the S&P Global gave a little back but remained above 50.
0:51.7	Oh, big story difference with ISM. These are good numbers. On the headline number
0:57.2	for February on services, 56.1. Well above the 53 and a half we're expecting. That's the best
1:05.2	level since July of 22. And prices paid going down, which is a good sign.
1:11.6	66.6.6.
1:13.6	The evil number in the rearview mirror turns into 63.0.
1:18.6	That would be the smallest price had paid, the inflationary component, going back to March of 25.
1:25.6	Now, if we look at new orders, we're looking at 58.6, well above 53.5, well
1:32.5	above 53.1 in the rearview mirror. 58.6, that would be the strongest since September of 24.
1:40.8	And finally, the employment side, which is key, considering we had ADP today and we have the
	...

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