SOTS 2nd Hour: Shutdown Impact w/Apollo's Chief Economist, Fresh Jobs Data, & Movers to Know (Nike, Pfizer & more) 10/1/25

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 1 October 2025

⏱️ 47 minutes

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Summary

Stocks under pressure as the government shutdown begins: Carl Quintanilla, Sara Eisen, and David Faber broke down the latest headlines - and what they mean for stocks, markets, and your wallet with Trivariate's Adam Parker before later getting Apollo Chief Economist Torsten Slok's take on all the action. Plus: what "Trump-RX" and the government's new deal with Pfizer could mean for an underperforming healthcare sector... and a deep-dive on Nike's results - and whether a turnaround could be in the cards here. Also in focus: a big day for public debuts - as AI data-center REIT "Fermi" goes public on the NASDAQ, and the parent company of the biggest flood insurance provider here in the U.S. begins trading at the New York Stock Exchange. What investors should know about both names ahead of the first trade.

Transcript

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0:00.0	Good Wednesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Condonia and David Faber.
0:04.8	We are live at Post 9 of the New York Stock Exchange. Take a look at stocks right now. Lower across the board, nothing dramatic, but the S&P 500 now down 4 tenths of 1%.
0:15.0	The NASDAQ comp down a little more, half a percent after some out performance yesterday on on technology and the Dow closing
0:21.4	at a record high it's down a hundred points pockets of green in the market health care and
0:25.4	utilities so the defensive groups communication services financials and industrials the
0:29.9	cyclicals on this shutdown maybe under the most pressure here treasuries take a look
0:35.9	we're seeing some buying tenure yield a little
0:38.8	softer. That's been the trend so far this week. It's below one 4.1% it goes to
0:43.1	409%. We'll talk about ADP private sector job growth pretty disappointing this
0:48.1	morning. Today enter the shutdown House Speaker Mike Johnson expected to speak on
0:52.3	Capitol Hill in just moments about the
0:55.0	latest on negotiations between Democrats and Republicans. We will take you there live.
0:59.0	Plus, Apollo's Torsten Slok will be here to talk about whether or not the government stoppage
1:03.0	matters to the market, to the economy, and to your money.
1:07.0	And Nike shares jumping this morning after surprise sales growth, but still lagging sharply on the year.
1:11.6	We'll talk about whether this turnaround is for real and how far along it is, up almost 4%.
1:18.1	It's been a busy morning of private economic data.
1:21.5	Getting some more.
1:22.0	Let's get to Rick Santelli.
1:23.0	Hey, Rick.
1:24.4	Yes, Carl, these are ISM Manufacturing PMI, September final reads.
1:29.1	And we see sub-50 on the headline, 49.1, largely expected.
	...

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