SOTS 2nd Hour: The September Set-up, Healthcare & Energy Playbooks, Plus: Pepsico/Kraft Heinz - Exclusive Comments 9/2/25

Squawk on the Street

CNBC

Investing, News, Business

4.1 • 567 Ratings

🗓️ 2 September 2025

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

First trading day of September and stocks taking a leg lower: Carl Quintanilla and Sara Eisen broke down the market set-up – along with fresh data and commentary around the consumer and prices paid top of the hour. Bespoke Invest Co-Founder Paul Hickey pointing out what he calls a bullish environment, while former Fed Vice Chair Alan Blinder gave his predictions for a make-or-break Jobs Report this Friday – and what could result from Fed Gov. Lisa Cook’s ongoing DC trial. Plus: get key analysis and more on what to do with stocks in 2 volatile sectors – energy and healthcare, as headlines roll-out of Washington from both industries. Also in focus: Kraft Heinz and Pepsico. Hear what Warren Buffett had to say about news Kraft Heinz plans to split the company – and why he’s “disappointed” – along with Pepsico’s response to a new activist investor in the name. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Tuesday morning.
0:08.9	Welcome back to Squawk on the Street.
0:10.1	I'm Sarah Eisen with Carl Kintanilla.
0:11.9	We are live as always from post nine of the New York Stock Exchange.
0:14.7	David Faber has the morning off.
0:16.7	It's the first trading day of September, and markets are starting under pressure here.
0:20.2	The S&P down almost a full percent. Every sector except for energy is red. Technology is at the bottom of the barrel today. You've got information technology, industrials and financials, as well as communication services, all down about a percent. As far as industry performance, again, energy is holding up a little bit better. We're less than 2% though away from record highs on the S&P 500.
0:40.9	NASDAQ pulls back a little bit harder.
0:43.3	Some exceptions today, like a PepsiCo, which we'll talk about getting an activist stake from Elliott.
0:48.1	As far as Treasury's kicking off the week, take a look.
0:51.9	We have some selling with yields a little bit higher across the board.
0:55.7	The two year 3.645, the 10-year yield 4.269%. Today, former Fed Governor Alan Blinder will join
1:03.5	us ahead of this week's key jobs report, what's at stake for the Fed's interest rate decision
1:08.2	and his first comments on the future of Lisa Cook.
1:11.7	The market still awaits a ruling there.
1:14.0	And then the future of President Trump's tariffs after an appeals court rules against him.
1:18.5	We are live at the White House with the latest developments.
1:21.0	Plus, as mentioned, Pepsi shares bucking the sell-off rallying on news of a new activist
1:25.1	stake from Elliott.
1:26.3	What could happen next for the company?
1:28.7	Let's get some ISMs in construction spending with Rick Santelli.
1:31.8	Hi again, Rick.
	...

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