SOTS 2nd Hour: Trump Reconciliation Bill Latest, NEC Director Hassett, & IMAX CEO Talks F1: The Movie 6/30/25

Squawk on the Street

CNBC

Investing, News, Business

4.1 • 567 Ratings

🗓️ 30 June 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Another morning of record highs on the S&P and Nasdaq – Sara Eisen, David Faber, and Wilfred Frost broke down the latest for stocks ahead of a big week for data and fresh news on the tariffs front. Trivariate’s Adam Parker joined the team with his top picks – and why he’d bet on financials and health care here. Plus: Apollo’s Chief Economist Torsten Slok discussed his outlook into the 2nd half as he argues stagflation remains a worry here. Also in focus: the Senate in the middle of a marathon session to pass the President’s tax and spending megabill – NEC Director Kevin Hasset joined the team for a wide ranging interview spanning his key takeaways, the impact for energy, and recent comments around Fed Chair Powell’s replacement... And the team discussed clean energy’s biggest winners and losers as they move big on a potential new tax tied to China within the bill – and sooner-than-expected roll-back of credits for the industry. Plus: what the street’s saying about Circle’s massive post-debut rise… And the CEO of IMAX – breaking down Apple’s biggest box office debut *ever*: F1 the movie, along with how demand is holding up for the summer box office.

Transcript

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0:00.0	Good Monday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with David Faber and Wilford Frost is back. Welcome.
0:07.3	Thank you very much. Good have you. We are live from Pose 9 of the New York Stock Exchange. Carl has the morning off.
0:11.8	Stocks are at record highs as we open here on Monday morning. Holiday shortened week. S&P up quarter of 1%. Financial's in the lead today. That's maybe a welcome back, Wilfred. Communication services
0:22.9	also up a tenth of, about seven-tenths of one percent. We've got energy lagging, so are some
0:28.1	of the defensive groups like utilities, real estate. Those are both down. Consumer staples as well.
0:33.1	Treasuries show you how they're kicking off the week. We have a light day-to-day today,
0:36.9	more coming later in the week, but bullish tone with yields a little bit lower. The 10-year yield 425 and the two-year yield 3-725. Coming up this hour, National Economic Council Director Kevin Hassett will join us as Senators vote this hour on the big beautiful bill. We'll talk about the economic impact of the legislation,
0:54.6	the outlook for the economy, as well in the second half. Plus, the summer box office kicking
0:59.2	into high gear F1, the movie speeding to the top of the charts this weekend. We'll talk to
1:04.5	the IMAX CEO about the debut. And yes, I saw it for a second time. Are you a fan of F1?
1:10.8	Looking forward to that discussion.
1:12.1	It's a great movie.
1:13.0	But first, we're 30 minutes into the trading session.
1:15.4	Here are three big movers that we're watching,
1:17.4	Moderna gaining on positive results from a late stage trial of its flu vaccine,
1:21.6	clearing a path forward for that product and the company's separate combination flu
1:26.3	and COVID shot, it's up 1.4%.
1:29.3	The DOJ has settled its lawsuit challenging HPEs or cash acquisition of Juniper networks.
1:34.3	The settlement requires the combined company to divest HPE's wireless networking business
1:39.3	and licensed the source code for some of Juniper's AI software.
1:43.3	As you can see, those stocks moving higher,
1:45.3	quite healthy moves. Oracle, jumping to new highs in early trading after. A filing showed
	...

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