SOTS 2nd Hour: Tariffs Latest, CPI Breakdown, and Dalio on the Deficit 3/12/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 12 March 2025

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Fresh trade developments top of the hour: Canada promising to impose 25% reciprocal tariffs on over $20B in U.S. Imports… Carl Quintanilla, Leslie Picker, and Michael Santoli broke down the latest on another volatile morning for stocks. What it means for the automakers with former Ford CEO Mark Fields – and a deep dive on the impact for Canada with the CEO of the country’s 2nd largest steelmaker: Algoma, as they pause shipments to the U.S. Also in focus: exclusive comments from Bridgewater’s Ray Dalio and Salesforce’s Marc Benioff on the recent market unwind. Plus: this morning’s inflation print (CPI) coming in better than expected – what it means for the Fed and markets, as recession fears grow – and to end the hour, a look at how 3D-printing could solve the housing shortage. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Wednesday morning. Welcome to another hour a squawk on the street. I'm Carl Cantonia with Leslie Picker, Michael Santoli, live at post-9 of the New York Stock Exchange. David and Sarah on assignment.
0:09.2	Bowles doing a little nibbling at least this morning. S&P back to 5600. By the way, yesterday's low, 5528.
0:16.5	CPI did come in cool. Ten-year yield comes back to four three and then some. By the way,
0:21.9	a quick programming note. Do not miss a big interview tomorrow on Squawk on the street.
0:25.9	Our Sarah Eisen is going to talk to the Treasury Secretary, Scott Bessent, about everything from market volatility to the impact of tariffs.
0:32.9	Very much looking forward to that. We are 30 minutes into the trading session. Here are some movers.
0:37.5	We are watching Intel shares rallying.
0:40.6	And there are reports out there that Taiwan Semi has pitched Nvidia, AMD, and Broadcom about taking stakes in a joint venture to operate Intel's factories.
0:49.9	Taiwan Semi reportedly proposing to run the operations of Intel's foundry division, which makes chips
0:54.7	for customers, but it would own more than 50%. Those shares up about 6% right now. Morgan Stanley
1:01.3	cutting its price target on Apple to $252, a share from 275 saying the delayed AI Siri update
1:07.9	means Apple will have fewer features to fuel iPhone upgrade rates.
1:12.1	So those shares about flat right now.
1:14.1	And Tesla shares trying to rebound for a second day?
1:17.8	Oh, there you go.
1:18.6	Up 7.3 percent, very much rebounding.
1:21.2	But still on pace for losses on the week and hovering right around 50% off of their 52 week highs.
1:29.3	Meantime, as we said, stock's trying to rebound after we fell into correction tour yesterday
1:33.3	on yesterday's trade.
1:35.0	Mike, what are you watching?
1:36.2	And are there either positioning flows or sentiment metrics that are driving the conversation
1:41.3	right now?
	...

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