SOTS 2nd Hour: PCE Breakdown, Trump Tariffs Latest, & Moody's Chief Economist Talks GDP 9/26/25

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 26 September 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

The latest read on inflation coming in as expected in August (PCE): Carl Quintanilla, Sara Eisen, and David Faber broke down the data and discussed where to put your money to work here with one asset management strategist who says the rally has legs. Plus: a huge day in Washington... As the President makes tariff moves across the chips, furniture, and pharma - and a potential government shutdown looms. Hear the latest headlines - and what it means for each sector this hour with analysis from a longtime semis analyst and an early-stage biotech investor who says it would be "devastating" for his industry. Also: Moody's Analytics Chief Economist Mark Zandi joined the team with new numbers on how a shutdown would hit GDP growth - and it just might surprise you. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Friday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl
0:10.6	Kentini and David Faber. We are live for you, as always, from post nine of the New York Stock Exchange.
0:15.1	Stocks are higher today and it's a pretty broad rally. It's actually led by energy for a change.
0:19.6	Best performing sector right now of 1.4%.
0:21.6	Only one sector lags or is red, and that is consumer staples. But interestingly, this rally is not
0:27.7	being led by technology for a change. Yes, there's strength in Microsoft, Amazon, Intel, Tesla,
0:33.1	but it's really energy, utilities, industrials, and financials that are driving the market forward right now.
0:38.8	We are pairing some of the losses for the week.
0:40.6	Still negative on the S&P, but less than a third of a percent now.
0:43.9	Coming up this hour, how new proposed tariffs on pharma, furniture, and chipmakers could impact your portfolio
0:50.0	as investors try to keep up with a flood of announcements from Washington.
0:54.4	Plus, Moody's chief economist, Mark Zandiandi will join us with reaction to today's inflation print,
0:59.0	how a government shutdown could muddy upcoming data releases as well.
1:03.5	Speaking of data releases, let's get some UMIS with Rick Santelli.
1:06.2	Hey, Rick.
1:07.6	Hi, Carl, indeed.
1:08.9	These are final reads for September on University of Michigan sentiment and inflation numbers and expectations for for some improvement.
1:17.7	The reality is each one deteriorated on growth.
1:21.2	55.1 from 55.4 is the headline number. It's still the weakest going back to May.
1:29.4	If we look at the current conditions, 60.4 versus the mid-month read of 61.2, also lower, but it doesn't change the comp back to May.
1:39.7	And if we look at expectations from 51.8 mid-month to 51.7. Still the weakest since May as well.
1:48.4	And on the inflation front, very similar, but in a positive way. We're expecting 4.8 on the one-year
	...

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