SOTS 2nd Hour: Stocks still digesting Friday’s sell-off and the President’s decision to fire the head of the BLS 8/4/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 4 August 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

David Faber, Michael Santoli, and Leslie Picker kicked off the hour with new data and the market set-up ahead of what’s historically a hard month for the market… and stocks like Palantir and meme trade Opendoor surge. Longtime market vet and Evercore Founder & Vice Chair Roger Altman joined the team with his take – and the evidence he sees of an economic slowdown. Plus: listen to a can’t miss and wide-ranging interview with Senator Elizabeth Warren this hour, spanning the economy, the consumer, the housing market, and the NYC mayoral race. Also in focus: OnSemi the latest chip company to issue disappointing guidance – a debate on whether it’s a canary in the coal mine, this hour… A deep-dive on new numbers out of Berkshire Hathaway… And more on the other key movers of the day: like Wayfair’s better-than-feared results boosting shares to a $10.5B AI data center deal sending shares of a different name +70%.

Transcript

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0:00.0	Good Monday morning. Welcome to Squawk on the Street. I'm David Faber with Leslie Picker and Mike Santoli. We're live from Post 9 at the New York Stock Exchange. Carl and Sarah have the morning off. Let's give you a look at the market cent. Treasuries, one half hour into trading for stocks. Of of course you can see we're having quite a nice
0:21.0	rally after a significant decline on friday as for treasuries uh you know again yields had been down
0:28.8	and we still have the uh the 10 year yield down a bit at 4.218 percent coming up on today's show
0:35.2	ever course senior chairman roger altton's going to join us.
0:38.5	We'll get his latest take on the market.
0:40.4	Evidence he sees of an economic slowdown, talk a bit of M&A.
0:43.9	Plus, Senator Elizabeth Warren will be with us right here at Post 9.
0:48.0	We'll talk about President Trump's decision to fire the head of the Bureau of Labor Statistics, amongst other topics.
0:54.5	But first, breaking economic data just crossing the tape, Rick Santelli has that for us.
0:59.1	Hey, Rick.
1:00.6	Yes, Leslie. Good morning. Factory orders. These are fresh June numbers expecting minus 4.8,
1:07.2	and that's exactly what we get, minus 4.8. That would be the weakest since the first month of
1:11.9	2024, but I do want to point out in the rearview mirror there's a bit of history. 8.2% up for last month becomes 8.3% which makes it the second biggest number in the history of factory orders, which dates back to
1:28.0	1956. So we see that the tariff issues have really created lots of big numbers. Now,
1:35.5	if we strip out transportation, it's up four-tenths, a little better than expected
1:40.3	following an upward revision of last month from two tenths to three tenths.
1:44.7	Durable goods.
1:45.4	Now these are final reads.
1:47.1	All the durable good numbers we had mid-month, these will replace them.
1:51.1	So the mid-month read at minus 9.3 becomes minus 9.4.
1:55.3	And once again, that's rather historic because it is basically one of the biggest numbers ever, but this series only goes back to 1992.
2:04.6	Now let's strip out transportation. It's up to 10th. So we could see how aircraft paid a huge part in that big up and down back-to-back months that we've had.
	...

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