SOTS 2nd Hour: Return of the AI Trade? Goldman Cuts Recession Odds, and Live: Coinbase CEO 5/14/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 14 May 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chip stocks are taking the lead as big tech names like Nvidia and AMD gain – Carl Quintanilla, Michael Santoli, and David Faber broke down the possible return of the AI trade to kick off the hour, along with Goldman’s decision to cut their recession odds to 35%... The firm’s Chief U.S. Economist joined Post 9 to defend the call. Plus: growing worries over a possible onslaught of container ships amid the 90-day tariff pause with China, but the head of the Port of LA says they’re not seeing it yet – bringing the team his latest read from the ground. D.C. headlines also continue to dominate – hear why the CEO of Coinbase is bullish when it comes to positive regulation ahead… Plus, new comments from President Trump when it comes to Boeing - amid a number of reports out of the airlines, and the FAA meets to possibly cut more flights out of Newark. Also in focus: Warner Brothers’ pivot back to “HBO Max”; what to expect out of Coreweave results tonight; the latest on eToro, going public today; and a breakdown of the retail movers to watch here. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Wednesday morning. Welcome to Squawk in the Street. I'm Carl Kintania with Mike Santoli, David Faber, live at Post 9 of the New York Stock Exchange.
0:06.0	Sarah Eisen's on assignment. Bulls continue to work with some slim year-to-date gains so far on the S&P and NASDAQ. Treasuries, we're keeping a close eye, especially on the long end, not too far from a five handle. Coming up this hour, recession odds falling. Goldman Sachs slashes its probability of a recession
0:22.3	in the next 12 months and raises its growth forecast. The firm's chief U.S. economist is going to
0:27.2	join us to break down that call. Plus, the CEO of Coinbase will be with us as the stock jumps
0:31.2	30% this week on news of its inclusion into the S&P 500. All right, we are 30 minutes into the trading
0:37.3	session. Here are three
0:38.2	big movers we're watching. Tesla shares are gaining the company reportedly resuming imports of
0:44.1	Chinese parts for its cyber cab and semi-production here in the U.S. while the Financial Times says
0:49.2	a new pay deal could be in the works for CEO Elon Musk. The stock is the best performer in the
0:55.7	Mag 7 over the last one month after having been the worst performer going into those market
1:00.4	lows. United Health is trying to rebound. One of the best performers on the S&P and Dow after
1:06.3	yesterday's 18% plunge on pulled guidance and a surprise CEO exit. Key Bank, cutting estimates,
1:12.7	but writing that the company is, quote, staying on the struggle bus. And watch AMD, the stock
1:18.6	in the green after announcing a new $6 billion share buyback plan. And optimism grows around
1:23.8	loosening trade rules for the group. And on news of a Saudi chip deal, you see the
1:28.4	shares up 5% right now. Speaking of chips, Nvidia, building on strong gains following the China
1:33.0	tariff pause and news of a big AI agreement of its own to sell its highest end chips to Saudi
1:38.4	Arabia. A number of bullish calls as well followed on the Saudi news. Bernstein, for example,
1:43.7	writing that for investors worried about AI CAPEX sustainability,
1:47.4	we now have another deep pocketed customer willing and capable of spend.
1:52.6	NVIDIA's market cap, by the way, now above $3 trillion.
1:55.9	It's a bit above that of Apple.
	...

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