SOTS 2nd Hour: Tariffs Latest: Key Headlines and What It Means For Big Tech… Plus: FTC VS. Meta & A Big Banks Breakdown 04/14/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 14 April 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

S&P, Dow, and Nasdaq all kicking off the week in the green for the first hour of trade – David Faber, Carl Quintanilla, and Leslie Picker broke down the latest headlines out of Washington amidst some confusion on tariff carve-outs for key products like laptops and smartphones. What the White House is saying – plus more on what it could mean for Apple and Nvidia, as those shares gain. Also in focus: Who will drive the Post-American Global Economy? Former U.K. Treasury Minister and once Chairman of Goldman’s Asset Management Business, Jim O’Neill joined the team fresh off a new op-ed arguing for new strategies here… And CNBC’s Steve Liesman broke down new worries over the Dollar, hitting 3-year lows in the session. Plus: how to play the bank stocks here, as Goldman becomes the latest of the group to report new numbers – and CEO David Solomon warns of recession risks on the call… And what’s at stake in the FTC’s growing battle with Meta, as their antitrust case kicks off in court today. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:11.1	Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintanio with Leslie Picker, David Faber, live at Post 9 of the New York Stock Exchange.
0:17.4	Sarah has the morning off. Bulls trying to make some hay out of the notion that these
0:21.1	exemptions on electronics of tariff-wise, while temporary are still material to some popular
0:27.0	longs, Apple is the best-performing down name, even some relief on the 10-year with the yield
0:32.7	just around 4-4 this morning. We're about 30 minutes into the trading session. Here's some big movers.
0:37.6	We are watching late Friday, U.S. Customs published a list of 20 product categories,
0:41.9	including semis and smartphones, that it's said will be exempt from the White House's
0:46.1	125% tariff on China. Yesterday, President Trump clarifying, quote,
0:51.7	there was no tariff exception, announced they are just moving to a different tariff bucket.
0:57.4	We'll get the latest from D.C. in a moment. But stocks like Best Buy, Dell, Apple, up more than 4% each this morning.
1:05.8	Chip stocks also firmly in the green on those headlines, Nvidia adding to gains on the month after its best week since 2024.
1:13.5	And watch Big Banks, Goldman, the latest of the group
1:16.4	to report. What executives are saying on the call
1:18.7	this hour, those shares have given
1:20.7	back some of the gains of about 1% right now.
1:23.8	All right, stocks are rallying this on, as Carl said,
1:26.3	perhaps a tariff reprieve, at least for some electronics.
1:29.5	Let's go over to Megan Kisela, of course, because it is not as it all would appear.
1:36.0	And Megan, perhaps you can explain to us what may be yet to come when it comes to these potential exemptions getting rolled back.
1:43.4	Yes, there's a lot to unpack here, David.
1:45.0	So the tariff exemptions that the White House had repeatedly vowed would not be coming.
	...

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