SOTS 2nd Hour: Meta Expectations, Fed in Focus, and the View From The C-Suite – w/GSK & Hershey CEOs 7/30/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 30 July 2025

⏱️ 43 minutes

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Summary

Stocks hovering around record highs ahead of a Fed decision and key report cards out of Big Tech: Sara Eisen and David Faber broke down the latest on the data front (Q2 GDP, new payrolls data, and pending home sales at the top of the hour) along with some new commentary around prices and tariffs from consumer-facing earnings. RBC Tech analyst Brad Erickson broke down his bull case for Meta ahead of results tonight, while former Fed President Esther George discussed her predictions when it comes to Fed Chair Powell and rates. Plus: the view from the C-Suite… This hour: the CEO of pharmaceutical giant GlaxoSmithKline talked her expectations for tariffs on the industry; hear the CEO of Starbucks’ take on competition, as same-store sales there disappoint; the CEO of Hershey joined the team for her last broadcast interview in the role with the her latest on the consumer, M&A expectations, and legacy; and more from the CEO of Palo Alto as the company announces plans to acquire CyberArk for ~$25B. 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 David Faber. Live, as always, from post-9 of the New York Stock Exchange. Carl has the morning off. Stocks are higher here in the early going, got a better GDP number, a lot of data to talk through. S&P up a tenth of a percent, but it is being led by utilities and health care, typically defensive stocks. Financials are strong technology is up. That's why the NASDAQ is up
0:22.7	two-tenths of 1%. We got energy, materials, industrials bringing up the rear. As for treasuries,
0:29.2	after all this data, take a look. We are selling higher yields, 10-year yield, 4.37, nothing extreme,
0:36.1	still in the range. The two-year yield, 3.9 percent ahead of the Fed this afternoon.
0:40.4	We've got a big hour coming your way.
0:42.0	Hershey CEO, Michelle Buck, joins us on the back of earnings.
0:45.3	Her last interview in the role with a look at the consumer demand, inflation, and more.
0:50.6	Plus, we will talk to the CEO of British pharma giant GSK.
0:54.0	Glaxo Smith-Kline, also out with earnings about the potential impact of pharma tariffs and much more. Plus, we will talk to the CEO of British Pharma Giant G.S.K. Glaxo Smith-Kline,
0:54.9	also out with earnings about the potential impact of pharma tariffs and much more.
0:58.8	And as mentioned, it's Fed Decision Day and today's decision could come with a number of
1:02.7	dissents. Former Kansas City Fed President Esther George will be with us to discuss.
1:07.7	First, let's get pending home sales. They just crossed. Diana Oleg has the numbers for us.
1:12.0	Diana. Well, David, pending home sales in June dropped 0.8% from May and we're down 2.8% from June of
1:20.1	last year. That's basically in line with expectations, just a tainty bit lower. These counts are based
1:25.3	on signed contracts for existing homes, so people out shopping
1:28.3	in June when the average rate on the 30-year fix dipped slightly and briefly. The home builders
1:33.9	noted that in recent earnings that this brought in more buyers. Of course, the buildings also,
1:38.2	builders also buy down rates. Home sellers do not, and rates popped back up again in July.
1:43.7	Now, sales were down despite a
1:45.7	nearly 29% gain in active listings, according to Realtor.com. Some of that gain is because homes
1:51.6	are just sitting and not selling. There was actually a pullback in new listings in June.
	...

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