SOTS 2nd Hour: Tariffs Countdown, Playing the Tech Tumble, Health of Housing 2/28/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 28 February 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

All major indices on pace to end February lower - Carl Quintanilla, Sara Eisen, and David Faber broke down the latest for stocks along with Michael Santoli to kick off the hour – in addition to how to play the tech tumble here with one Fidelity PM who manages more than $20B. Plus, the latest out of Washington: as Ukrainian President Zelenskyy gets set to meet with President Trump on a new minerals deal, and the street looks ahead to Monday’s midnight deadline for tariffs on Canada and Mexico to take effect. Former Ford CEO Mark Fields calling those tariffs “devastating” in the near term for the American auto industry. Also in focus: the health of housing after a month of disappointing prints – what it could portend for the spring selling season; Meta takes on OpenAI; and more on the results sending Dell and HPQ shares lower. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Friday morning. Welcome to another hour of Squawk on the Street. I'm Sarah Eisen with Carl Cantania and David Faber, live as always from post nine of the New York Stock Exchange.
0:14.7	Been a tough week for the Bulls, and it is the last trading day of February. It's been a tough month as well.
0:20.1	S&B 500 clinging to a little bit of a gain, but if the trend repeats that we've seen all week long, that's been fading already.
0:28.6	I mean, for the week, we are sharply lower, especially if you look at the NASDAQ.
0:32.6	Week to date, down 5 and a quarter percent. Nasdaq 100 down 5 percent.
0:36.9	And month to date, the NASDAQ one hundred down five percent and month to date the
0:38.1	nasdaq comp is down 5.7 percent so the pain has been felt in technology we have
0:42.8	another day where invidia microsoft apple palan tier meta tesla are all weaker take a look
0:48.4	at treasuries it's been a buying of treasuries kind of moment for the bond market
0:54.0	seen that in all of February continues today.
0:57.0	Ten year yield, 4.239%.
0:59.0	The two-year yield just above 4%.
1:02.0	So we're way off that high that we saw in January.
1:05.0	Remember, we were creeping up toward 4.8%, almost to 5% on the 10-year.
1:09.0	We're down to 4-2. 30 minutes here into the trading session. Here are three big movers we're watching. Shares of NVIDI mentioned under pressure again, down five of the past six sessions now. The stock going nowhere this month, down more than 10% this year, and off more than 20% from its recent highs. Monster energy shares moving higher, top of the market today.
1:28.6	Earnings were amiss, but revenue beat executives on the call pointing to a, quote,
1:32.9	resurgence of growth in the energy and drink category. And then NetUp, one of the biggest
1:37.7	losers right now on the S&P 500, double digits now down after the data storage company's
1:43.0	revenue and guidance came in but weaker than expected.
1:47.0	The big economic report, highly anticipated was PCE.
1:50.0	That's the Fed's preferred inflation measure.
1:52.0	And the good news is it came in in line with what was expected and also mild, tame, didn't feed into this narrative that inflation is flaring up again, at least
	...

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