SOTS 2nd Hour: Tariffs Latest Ahead of Trump’s Remarks, Tesla’s Road Ahead, and Newsmax Shares Slump 4/2/25

Squawk on the Street

CNBC

Business, News, Investing

4.1 • 567 Ratings

🗓️ 2 April 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

A mixed morning for stocks as President Trump’s “Liberation Day” begins – with key policy details coming at 4 PM Eastern. Sara Eisen, David Faber, and Carl Quintanilla discussed where things stand when it comes to consumers, CEO confidence, and more to start the hour – alongside fresh manufacturing data. Why BMO’s Brian Belski says the street is overreacting here on recession fears… Plus – the head of policy at the U.S. Chamber of Commerce, who’s forecasting higher prices ahead as a result. Also in focus: Tesla deliveries disappoint – former Ford CEO Mark Fields joined the team to breakdown the numbers, and the road ahead; What’s driving volatility in shares of Newsmax, as shares plummet off recent highs; And a look at whether gold’s rally has more room to run here. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Wednesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kentinia and David Faber, live as always from post nine of the New York Stock Exchange. Stocks are under a little pressure here. The S&P's down half a percent ahead of, highly anticipated tariff announcements later this afternoon from the White House. The NASDAQ down a third of 1%. You do have every sector lower right now. Energy is actually getting hit the
0:21.4	hardest along with materials and health care. So tech is faring a little better. Financial is holding up
0:26.4	the best, though. Financials and utilities basically flat on the day. As far as Big Cap Tech, it's kind of a
0:32.7	mixed picture. You have Netflix and Palantir higher, for instance, but some of the other big names like NVIDIA, the chips all lower. Take a look at treasuries right now as we anticipate those tariff moves. We've got ADP private sector jobs, solid. Ten-year yield is still lower. So bid for bonds continues, at least in the long end of the curve, the 30-year and the 10-year and the five-year yields all lower.
0:55.6	We're below 4.1. We're about 4.15 right now, 415. We're 30 minutes here into the trading session.
1:01.9	Here are some movers we're watching. Just hours away from President Trump's reciprocal tariff announcement.
1:06.5	The administration providing few details on what to expect.
1:10.1	The ETSs, though, tied to China, Mexico, Canada, and Europe, they're all trading lower.
1:15.6	Shares of Tesla falling on the back of its latest delivery numbers, 336,000 in the first quarter,
1:20.6	and that's down 13% from a year ago and below estimates.
1:24.6	More on the road ahead for Tesla in just a moment.
1:32.1	And then shares of Trump media, they're falling after the company, which operates truth social, filed papers with regulators that would allow Trump's trust to sell up to $2.3 billion
1:38.3	worth of stock, Carl.
1:40.5	A decently busy morning for data.
1:42.7	Let's get some factory orders with Rick Santelli.
1:44.7	Morning, Rick.
1:46.2	Yes, and notice that the yields are moving up and the equity markets are moving up as well.
1:52.7	And here's the reason why.
1:54.1	Factory orders for February, expected to come out half of one percent higher.
1:58.6	Come out a little better, up tenths of percent with a nice
2:01.6	positive revision the rearview mirror from 1.7 to 1.8 1.8 or 1.7 both will be the
2:09.1	best since July of last year so we're holding on to some of that strength take
	...

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