SOTS 2nd Hour: Tariffs Latest: Yields Jump, CEOs Speak Out, and More On How To Trade It 4/9/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 9 April 2025

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

A volatile first hour of trade as the EU and China make new tariff moves: Sara Eisen, David Faber, and Michael Santoli broke down the latest alongside fresh reporting from the White House, Beijing, and more. Plus, what Trump’s promise of new tariffs on pharmaceuticals could mean for the group, as stocks like Eli Lilly and Novo Nordisk take a leg lower – and the breakdown of what could be driving this big jump in treasury yields overnight. Also in focus: Delta and Walmart pulling guidance – what’s driving the move and what comes next; Longtime market veteran Bob Doll joined the team with his stock playbook for volatility; and CEOs starting to sound-off on tariffs… Why the head of furniture retailer Ethan Allen says Trump’s gone “too far” 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 David Faber and Mike Santoli.
0:04.9	Carl's on assignment and we are live as always from post nine of the New York Stock Exchange.
0:09.0	Stocks are trying for a big rebound. We've got another up and down day here. Take a look at the action.
0:12.7	The S&P 500 is actually higher by 1%, which you wouldn't know by all the headlines flying around and the volatility.
0:21.9	Technology is leading. We've got information technology up two and a half percent. The stocks that are lagging,
0:25.9	energy, real estate, healthcare, and utilities. That's why the NASDAQ is, I would say,
0:31.0	surging now 2 percent compared to where we've been and where we were. Keep in mind, it's still
0:37.3	like 19 percent off the highs, but we are coming back today. A lot of the action is in the bond market. We're going to really dive into this, but let's just show you where treasuries are right now. They're selling off with yields higher. Third day in a row, we're going to talk about the dynamic because a lot of people are paying attention. It's become sort of the center of the action. But right now we've got a tenure yield off the highs at 4.365%. Yep, a lot more to come on that. Another volatile day of trading, of course, as well. We've got wall-to-wall coverage of what you need to know this hour. Eunice Yunus Yun is live in Beijing. She's going to have the latest on China's moves regarding tariffs. Angelica Peoples is tracking the big moves in pharma.
1:13.2	This as President Trump plans new tariffs for that sector, Phil LeBoe.
1:18.1	He's got the airlines, of course, following that pulled guidance from Delta.
1:22.0	But let's start with Rick Santelli, who is tracking that action in the bond market.
1:26.2	Talking a lot about the basis trade during the last hour as well, Rick.
1:29.5	I know you've got some data for us as well.
1:32.8	Yes, let's start out with the data.
1:34.6	This is the February final for wholesale inventories.
1:38.3	Mid-month read, up three-tenths.
1:40.3	It remains up three-tenths.
1:42.5	And up three-tenths, well, well, up eight tenths was January to give
1:46.7	you a perspective and the end of last year, your mind is seven tenths. If we look at trade sales,
1:51.6	this is a fresh number expecting up eight tenths. Buckle up. Multiply that by three, two point four
2:00.2	percent, up two point four percent to find a higher number on sales.
2:04.8	You're going back to March of 22.
	...

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