SOTS 2nd Hour: Iran Tensions Rise, Chip Stocks Gain - Plus: On Semi CEO, FDA Commissioner Commentary 5/5/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 5 May 2026

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Escalating tensions in the Strait of Hormuz moving yields and markets... Carl Quintanilla, David Faber, and Sara Eisen kicked off the hour with a contrarian take from investors at the Milken Global Conference - before the team got the latest out from Washington and more on how to navigate the tech trade with one of the street's best, following new numbers from Palantir. Plus: chip stocks in focus after a few key results and a report Apple's contemplating new suppliers... Hear the CEO of On Semi breakdown the demand picture, along with more on some huge moves in the options market. Elsewhere this hour: a deep-dive with the current Commissioner of the FDA - as he pushes back on growing criticism tied to drug approvals. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintanilla, live of the New York Stock Exchange, alongside Sarah Eisen, David Faber, joining us once again from Milken Global Conference in Beverly Hills.
0:14.9	Coming up this hour from Milken, we will hear from the CEO of OnSemi pulling back this morning, despite an earnings beat after a major
0:21.6	run-up of the stock so far this year. Plus, FDA Commissioner Dr. Marty McCary, as a new report
0:27.1	calls out, quote, paranoia, turmoil, and backlash at the agency, and questions swirl around
0:33.1	its drug approval process. We'll get the latest on Palantir and Intel, those names moving in opposite
0:37.9	directions in early trading. But first, let's get some ISM and jolts once again with Rick Santelli.
0:42.8	Hey, Rick. Yes, ISM, this is April number. These are the services side, of course, and on the index,
0:50.2	expecting 53.7 comes in a little light, 53.6. That will be the lightest since Nova of 25.
0:58.2	If we look at prices paid, they remain at 70.7, and those are basically the loftiest levels since October of 22, and it's now back to back.
1:08.1	If we look at new orders, very light here. We're expecting 57 and change.
1:13.3	53.5.
1:15.1	That would be the second week as the year outside of January's, 53.1.
1:20.0	And employment on an important week, we're going to get the big job, job, jobs report.
1:24.9	48, we're expecting 48.3. 48.0 would actually be the best since it was over 50,
1:32.1	51.8 in February because last month we're down at 45.2. The week is since the end of 23.
1:39.5	Job openings and labor turnover, a March number, expecting $6,850,000 comes in a little on the
1:47.4	heavy side, $6,86,000. And that would end up being the, well, that would be the lightest
1:55.7	since it was the end of the year, $6,550. So this is definitely not a bad number, and it's the third highest of the year.
2:05.6	It's been going down January, February, March, but we did start out the year over 7.2 million.
2:12.1	We still have new home sales. This is a March number as we get caught up. And for that, we're going to go to
2:18.1	Diana Oleg. Diana? Well, Rick, we got both March and February numbers and both were a beat. March
2:23.8	came in at 682,000 seasonally adjusted annualized rate. That's up 7.4% month to month from February's
	...

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