SOTS 2nd Hour: More Tariff Headlines, CoreWeave IPO Latest, & Related Cos CEO on Data Center Push 3/27/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 27 March 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

President Trump announcing a “permanent” 25% tariff on cars made outside the United States: Sara Eisen, David Faber, and Carl Quintanilla broke down the latest alongside fresh housing data top of the hour. Why Wolfe Research’s Head of Policy calls the move hawkish for equities at large - and a deep dive with S&P Global’s Chief Economist for Canada & the U.S. as they cut their growth estimates for the U.S. on policy concerns… Taking the other side? Goldman’s Jonny Fine – joining the team at Post 9 with his read on a what he calls a “resilient” and healthy credit market. Also in focus: AI demand – Related Companies CEO Jeff Blau on the broadcast to talk his company’s move into AI investing (as they try to raise up to $8B for data center developments) and the details behind CoreWeave’s upcoming IPO, as concerns grow around pricing. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Thursday morning. Welcome back to Spock on the Street. I'm Sarah Eisen with Carl Kintania and David Faber,
0:05.2	live as always from post-9 of the New York Stock Exchange. Stocks are under a little pressure here,
0:09.7	though we've come back off the lows of the first half hour of trading, say, with some strength
0:15.2	in consumer staples today. They're up three-quarters of one percent, so that's a bit defensive,
0:19.5	along with utilities, real estate, and health care.
0:21.5	But also consumer discretionary as a group is higher. That's thanks in part to Tesla, which is rallying 2.4%.
0:28.1	It's the best performing automaker for sure today. AutoZone O'Reilly, so some of the parts makers.
0:33.2	Also, some of the casino stocks and retailers also having a pretty decent day today.
0:38.3	Technology, though, is under pressure.
0:40.3	Again, energy is getting hurt today.
0:42.3	Finanials are actually red.
0:44.3	Some of the other automakers hit.
0:45.3	We'll talk about that with the new auto tariffs.
0:47.3	Take a look at treasuries right now.
0:49.3	The instinct on the auto tariffs was actually to sell treasuries with yields going higher,
0:53.3	potentially on an inflationary impact.
0:55.4	Ten-year yield moves towards 4.4.4.4%. So we're going off the lows where we were there below 4.3, 4.2% recently.
1:05.0	The two-year yield, though, it's below 4%. Getting a bit of a boost there. We're going to talk to Johnny Fine of Goldman Sachs later this hour. 30 minutes here into the trading session.
1:12.6	Here are some movers we're watching.
1:14.6	I mentioned the automakers front and center today.
1:16.6	Take a leg lower after President Trump announced to 25% tariffs on cars made outside the United States.
1:23.6	We're going to talk more about the economics of it in just a moment.
	...

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