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Squawk on the Street

SOTS 2nd Hour: One Day More, Another Rate Decision Ahead, and Nuclear Stocks Lose Energy 11/4/24

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 4 November 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Sara Eisen and David Faber discussed the latest for stocks as markets kick off a make-or-break week: with an election, a FOMC meeting and results out of 1/5 of the S&P 500 ahead. Also in focus: regulators blocked Amazon’s nuclear power agreement with Vistra, bringing down stocks across the sector; plus: a deep dive on the new names joining the Dow 30 (Sherwin Williams & Nvidia). Squawk on the Street Disclaimer

Transcript

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0:00.0

Take a look at stocks here.

0:01.0

Head of a busy week, S&P 500. Little changed right now. The NASDAQ's down about a tenth of one percent, and Dow's down 84 points. We've got a lot to talk about. How about treasuries, which we did see a move overnight. So I've seen some buying with yields a little bit lower for a change. The 10-year note yield, 4.27. There going to be a lot of Treasury sold this week. Of course, the election and the Fed meeting. We're 30 minutes into the trading session. Here are three big movers we are watching. Shares of Tesla down for a sixth straight day. New delivery numbers out of China showing the EV-makers sold just over 68,000 vehicles, and that is down more than 5% from last year.

0:39.7

Big shakeup in the Dow 30.

0:42.2

Invidia and Sherwin Williams will be joining the exclusive group, Intel and Dow Inc.

0:46.7

Getting the boot. More on Y later this hour.

0:49.4

And a tough trading day for the nuclear power-related names.

0:52.6

Amazon's deal with TalALN energy rejected by

0:56.1

federal regulators. More on the fallout coming up, but some big moves in all of those stocks.

1:01.3

It'll be a busy week for data. Let's get some Durables here with Rick Santelli. Hey, Rick.

1:05.9

Hi, Carl. Yes, good happy morning. Monday, we have Fact U. Orders and durable goods.

1:10.8

Doorable goods are actually final reads.

1:12.8

We toss mid-month reads.

1:14.3

Fact-year-orders expected down half 1%.

1:16.6

Come in as expected.

1:19.3

Down half a percent.

1:20.6

That's the weakest level since down 3.3, and that was in June.

1:24.9

Last month, though, had a significantly larger revision. So I'm going to have to change

1:29.9

what I just said. Last month now goes from minus two tenths to minus eight tenths. So now that

1:35.1

minus half a percent is comping to last month. If we look at fact you orders take out transportation,

1:41.9

it improves rather markedly to up one tenthtenth so we can see where the big

1:46.5

drag was. And if we look at the revision there, much smaller from minus one-tenth to minus two-tenths

1:52.8

last month. Now, durable goods, as I said, we are going to toss out minus eight-tenths,

...

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