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Squawk on the Street

SOTS 2nd Hour: Tariffs Deep-Dive with Peter Navarro, & the Jobs Report Breakdown 3/7/25

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 7 March 2025

⏱️ 50 minutes

🧾️ Download transcript

Summary

Jobs coming in weaker-than-expected in February, plus fresh tariff headlines this morning - Carl Quintanilla, Sara Eisen, and David Faber broke down the latest for stocks top of the hour before a wide-ranging interview with White House Senior Counselor for Trade and Manufacturing Peter Navarro. Plus – Goldman’s Chief Economist discussed what’s next for the economy and the Fed here. Also in focus: Tesla’s longest streak of weekly declines *ever* - why Wedbush is adding it to their Top Picks List; retail earnings out of Costco and Gap sending shares in opposite directions; and the President of the National Urban League talks DEI rollbacks 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

0:04.2

Kintanilla and David Faber, live as always from post nine of the New York Stock Exchange.

0:09.0

Things are looking a little bit better today, although the S&P 500 is unchanged. Nasdaq higher by about,

0:15.1

I don't know, a tenth of one percent. We do have some groups under the hood that are rallying today.

0:20.2

Energy, for instance, stocks up 1.4%

0:22.8

utilities, so it's a little defensive. Technology is doing better up a half a percent. Real estate,

0:28.2

industrials and materials. Everybody else is lower. Financials getting hit again down another 1% for the week.

0:34.7

The financials group down 6 and a quarter percent. We're also tracking for big weekly declines. The S&P, for instance, is down more than three and a half a half financials group down 6.5%. We're also tracking for big weekly

0:38.7

declines. The S&P, for instance, is down more than 3.5% on the week. The NASDAQ down almost 4%. Take a look

0:46.1

at treasuries. It's been mostly buying treasuries with lower yields. That continues today, but there was a little pop

0:52.7

yesterday off those German boond yields, which have gone crazy lately.

0:55.9

The 10-year yield, 4.25% will digest jobs in just a moment.

1:00.8

Also, big interview, just moments away.

1:03.1

White House Senior Counselor for Trade and Manufacturing, Peter Navarro, with us.

1:07.2

His take on the latest tariff moves and jobs data.

1:10.4

It has been a week. But first, 30 minutes

1:13.2

here into the trading session. Here are three big movers we're watching. Broadcom shares higher

1:17.5

after stronger than expected numbers and guidance from the chip maker, more on the streets' reaction

1:21.6

and what it means for the semis overall, which are now technically trading in bare market,

1:26.2

which means they're 20% off the recent highs,

1:29.4

though that's why the tech sector is a little bit higher today

1:32.0

because of Broadcom.

...

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