SOTS 2nd Hour: Strong Jobs Drive Gains, Amazon & Apple Earnings, Plus: Live From Omaha 05/02/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 2 May 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stocks popping higher after jobs data came in stronger than expected for April: Carl Quintanilla and Sara Eisen discussed the report and what it means for stocks - alongside some positive tariff headlines when it comes to China, and a number of better-than-feared earnings reports. A key focus? Mega-cap tech – namely Apple and Amazon after new numbers there… What to do with both stocks, and the street’s reaction this hour. Plus: does the rally have more room to run? Jefferies Chief Market Strategist and Goldman’s Chief Economist joined the team with their takes, and what comes next from the Fed. Also in focus: details emerging when it comes to President Trump’s 2026 budget – a deep-dive on the key points we have so far this hour… And a live read from the ground in Omaha - ahead of Berkshire’s annual shareholder meeting tomorrow. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Market moving insight and analysis.
0:02.4	Join Jim Kramer, David Faber, and me, Carl Kintanilla,
0:04.9	on the opening bell hour of CNBC Squawk on the Street.
0:12.0	Happy Friday.
0:16.2	Good morning and welcome back to Squawk on the Street.
0:18.2	I'm Sarah Eisen with Carl Kintania.
0:19.9	David Faber is on assignment.
0:21.7	We are live from post nine of the New York Stock Exchange. Stocks right now are higher. We're higher at the open.
0:27.9	Hold on to the gains here. Up 1% right now almost on the S&P 500. NASX adding 8 tenths of a percent.
0:34.4	We have earnings to get through. We have jobs data to get through. Jobs were mostly better than expected, which we'll talk about in just a moment.
0:42.0	And the Dow's up about 348 points. As for treasuries in reaction to all the economic data,
0:48.9	we've got a sell-off in bonds with yields a little bit higher on those firmer jobs numbers.
0:54.0	Maybe rethinking the growth outlook a little bit here.
0:56.0	The 10-year yield 427 right now.
0:59.0	The two-year yield at the short end, excelling also 375.
1:02.0	You've got every sector higher right now, except for energy in the markets.
1:06.0	And the best performers are the cyclicals, those tied to the economy,
1:09.0	industrials, financials, health care, materials, all doing well.
1:13.2	We are 30 minutes here into the trading session.
1:15.0	Here are three big movers we're watching.
1:16.9	Apple and Amazon, both under pressure on the back of their latest results.
1:20.2	We're going to break down all the street reaction, what to do with the stocks in just a moment.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.