SOTS 2nd Hour: Tech Tumbles, Tuesday's Earnings Takeaways, & LIVE: Barclays CEO 4/28/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 28 April 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Sara Eisen, and David Faber kicked off the hour with fresh consumer data and color from a slew of earnings reports before turning to the macroeconomy with Cantor Fitzgerald's Chief Equity & Macro Strategist - and hurtling into the consumer picture with the CEO of Barclays, fresh off earnings there. Plus: extra color from the CEO of Coca-Cola, who exclusively spoke with Sara this morning - and a deep-dive on tech stocks, as a new report around OpenAI hits the group in early trading. Elsewhere this hour: Council on Foreign Relations President Michael Froman - with his take on new headlines the UAE is leaving OPEC in May, and the U.S. & Iran remain far apart on any peace deal. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Tuesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kintania, who's back in David Faber. We are live at Post 9 of the New York Stock Exchange. Coming up this hour, the CEO of Barclays, fresh off results. We'll talk about the quarter, his read on the global economy and how the bank is
0:20.8	using AI in its business. Plus, speaking of AI, the whole artificial intelligence complex taking a hit
0:25.8	today after the Wall Street Journal reported Open AI missed internal user and revenue targets.
0:30.8	We're going to take a look at that news, what it means for names like Oracle and NVIDIA.
0:35.4	And counsel on foreign relations president, Michael Troman, is with us after some big news
0:39.7	out of OPEC this morning.
0:41.2	And as Germany's chancellor says, the U.S. is being humiliated by the Iranian regime.
0:46.4	First, though, let's get some conference board, maybe some Richmond Fed with Rick Santali.
0:50.0	Hey, Rick.
0:51.6	Yes, thank you, Carl.
0:53.1	Indeed, we're looking for our April read on consumer confidence.
0:56.7	The headline number expected to be under 90. It comes in stronger than expected.
1:02.4	92.8 is the new reading for April, and that follows an upward revision from 91.8 to 92.2.92.8 is the high watermark of the year.
1:14.8	You have to go back to the last month of 2025 to find a higher number.
1:19.7	123.8 present situation, that's over three points higher than expected,
1:25.2	and sequentially, a bit higher than our last look
1:28.1	123.8 would be the highest level going back to the November read of last year and
1:35.9	finally what are we looking at ahead expectations 72.2 we are looking for a number around
1:41.9	69 72.2 will be the best read since February of 72.6.
1:48.2	We do see Richmond Fed manufacturing.
1:50.7	Everybody continues to, of course, monitor to see if on-choring and some of the issues of manufacturing are picking up a bit.
1:57.5	This particular read is better than expected for April.
	...

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