SOTS 2nd Hour: Nvidia/Microsoft/Anthropic Deal Details, AI Bubble Fears, & The Home Depot Breakdown 11/18/25

Squawk on the Street

CNBC

Business, News, Investing

4.1 • 567 Ratings

🗓️ 18 November 2025

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Sara Eisen, and David Faber kicked off the hour with fresh economic data and huge breaking news on the AI front involving Nvidia, Microsoft, and private start-up Anthropic - who's also notched a new valuation of $350B. Get the key details, what it means for stocks, and a discussion on whether we're reaching bubble territory this hour. Plus: did Jensen Huang already reveal what to expect from earnings tomorrow? How to read the tea leaves - going back to October. Also in focus: the retail wrap-up according to UBS, as Home Depot kicks off a huge week of reports from Target and Walmart later on... And one former Fed governor's take on what to expect in December when it comes to rate cuts. cnbc.com/squawk-on-the-street-disclaimer

Transcript

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0:00.0	Good Tuesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Cantania and David Faber.
0:04.8	We are live, as always, from post nine of the New York Stock Exchange. Today, new warnings about an AI bubble from Google, CEO, Bank of America, JPMorgan, and others. Just a day ahead of NVIDIA's big earnings report. We'll talk about the red flags for tech as the NASDAX sees pressure again this morning. Plus, former Fed Governor
0:21.2	Randall Krosner on the increasingly divided Fed and whether or not he would vote for a cut
0:25.5	at the December meeting. And new details on this cloud flare outage that disrupted large
0:31.0	parts of the market this morning. Let's get some economic data now that we're back in the swing.
0:35.6	Rick Santelli's got it. Hey, Rick. Yes, indeed, Carl. Now, these are playing catch-up, of course, because we're in November, and this is August data. Fact you orders and our final read on durable goods. Fact you orders up 1.4%. That is better than expected. That would be the best number since May. we look at ex transportation it drops down so we see that
0:57.1	transportation airplanes push that number up it drops down to one tenth
1:01.4	one tenth that would be actually the weakest going back to
1:05.1	march when it was a minus half a one percent now let's look at durable good
1:09.3	orders two point nine was our mid-month read. Well, 2.9 remains.
1:14.5	So it is the best number going back to May, yeah, May of this year.
1:20.6	If we look at durable goods X transportation, up three-tenths, that replaces up four-tenths.
1:26.6	If we look at capital good's non-defense X aircraft,
1:30.3	it moves from up six tenths, down to up four tenths
1:33.3	on the mid-month read.
1:34.5	Four-tenths would be the weakest going back to June
1:37.5	when it was a negative number.
1:38.6	And finally, let's go from orders to shipments.
1:41.3	Shipments are down four tenths.
1:43.2	That replaces down three tenstenths, and those
1:45.5	are both the worst numbers since May of last year when it was down three-quarters of a percent.
1:50.9	For our home sentiment index on the housing side, let's head to Diana Oleg, head east. Diana?
	...

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