SOTS 2nd Hour: Tariffs Latest, PCE Takeaways, & JPMorgan’s Retail Playbook 5/30/25

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 30 May 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Fed’s preferred inflation measure – PCE – coming in as expected this morning as tariff whiplash continues: Carl Quintanilla, Sara Eisen, and David Faber broke down the numbers, along with the latest on the trade front (including a live reaction from Beijing to the President’s new claims China’s “totally violated” their agreement with the US). Charles Schwab’s Chief Investment Strategist arguing: don’t watch trade, but the jobs report next week… Hear why. Plus: a look at the Fed’s next steps from here according to Former Fed Vice Chair Alan Blinder. Also in focus: retail wreckage, as Gap becomes the latest name to slump on big tariff impacts… Top retail analyst Matthew Boss broke down the stocks he’d buy – and avoid – here; Regeneron shares on pace for their worst day since 2011 on new drug trial results; a look at one key part of the VC economy that’s coming under pressure due to policy; and more on what’s driving Hamptons rental demand to low tides. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Friday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Cantania
0:10.1	and David Faber live, as always, from post nine of the New York Stock Exchange. We're under a little
0:14.1	pressure this morning. The S&P's down half a percent. The only thing working sector-wise are
0:18.2	the defensives, like utilities and consumer staples.
0:21.6	Those are higher.
0:22.8	Everybody else is lower.
0:24.0	Some concerns about trade and what might happen next between the U.S. and China.
0:27.8	Technology is getting hardest hit.
0:29.9	Information technology down 1%.
0:31.7	However, it's shaping up to be a positive week, up 1.4% for the S&P 500 and month, as we are at the end of the month here,
0:39.5	up almost 6% for the S&P and 9% for the NASDAQ composite during the month.
0:45.9	Let's take a look at Treasuries here. As you can see, we're seeing some buying and yields are
0:50.7	lower, 4.4 on the 10-year, 2-year below 4%. We got some new, I would say, benign inflation data this morning for the month of April, which we'll talk about in just a moment. This morning, President Trump posting on Truth Social about those China trade talks, quote, so much for being Mr. Nice Guy. We'll have a live report from Beijing with how the Chinese government is responding.
1:11.3	Plus, Lizanne Saunders of Charles Schwab is here with her playbook amid all the tariff uncertainty
1:15.5	and the key economic report.
1:16.9	She says she'll be watching next week.
1:20.2	Let's get some consumer data to finish up the week with Rick Santelli.
1:23.1	Hey, Rick.
1:24.7	Yes, University of Michigan sentiment, Carl.
1:26.9	These are our final May read, which means we'll take our mid-month and toss it.
1:31.6	They are all sequentially higher and better than expected.
1:35.5	Headline moves from 50.8 to 52.2.
	...

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