SOTS 2nd Hour: Markets Rebound, IMF Cuts Estimates, and ECB President Lagarde 4/22/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 22 April 2025

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Dow, S&P, and Nasdaq holding onto gains as stocks try to rebound off fresh lows – Sara Eisen, David Faber, and Carl Quintanilla discussed the latest on a big day of earnings and tariff headlines. New this morning: the International Monetary Fund cutting U.S. growth estimates - on tariff headwinds… As names from 3M to GE Aerospace to RTX warn of fresh impacts. Why Barclays says tech might be worth buying here – and more on what to expect from Tesla ahead of results this afternoon. Also this hour: a wide-ranging interview with European Central Bank President Lagarde… Spanning trade, tariffs, Trump, and even Powell. Why she does not see a recession ahead for Europe – but the U.S. could be a different story. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Good Tuesday morning, welcome to school, walk on the street.
0:08.8	I'm Carl Canton here with David Faber, live at Post 9 of the New York Stock Exchange.
0:12.0	Sarah Eisen's live in DC this hour.
0:14.5	A huge interview you don't want to miss.
0:16.0	ECB President Lagarde's with Sarah in just a moment.
0:19.0	Meantime, get a quick check on the markets here. S&P's up about 77 points. Dow up 580, watching Treasuries as well, still south of 4-4. About 30 minutes into the trading session, some earnings movers were watching. Industrial names, GE Aerospace and 3M gaining. 3M warning the tariffs could drag on full-year earnings by as much as 40 40 cents while GE maintained their guide plans for cost cuts and possible price likes ahead.
0:42.2	A number of results out of the defense names, Lockheed Martin, Northrop Grumman, RTX, all on the move.
0:47.5	Stocks with consumer exposure like Kimberly Clark, genuine parts reporting net sales and same store sales declines respectively.
0:55.1	And we got a fresh read on housing. Pultei the latest name to warn a quote affordability challenges tied to high selling prices
1:00.7	and monthly payments that said it was a top and a bottom line beat sarah tell us about dc today
1:06.7	okay so i'm here because it is the kickoff to the i'm f world meetings, and this is when all the finance ministers from around the world and all the central bank chiefs from around the world come to Washington. And usually they talk about, you know, how to revive growth. This time around, there's a crisis on trade. And so there will be bilateral discussions. Some of these foreign
1:28.6	ministers, finance ministers are hoping to make trade deals or at least get discussions going
1:32.6	with the White House. And others are talking about how to cushion their economies. So with that
1:38.0	in mind, the backdrop here is the U.S. versus the rest of the world. And I just thought I'd show
1:42.7	this chart, which I think encapsulates what's happening right now. This is the April chart of the S&P 500, our
1:50.0	market in orange, versus the rest of the world. The U.S. is underperforming. And there's some
1:54.8	interesting stats on this, Bespoke, for instance, took a look at the U.S. It's the second
2:00.1	worst performing of 45 different country ETFs since President Trump's
2:05.7	term began in January.
2:07.2	It's down 14 percent versus the average country, which is up.
2:11.6	It's underperforming Germany, for instance, something we'll talk about with ECB President
2:16.8	Legarde.
	...

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.