SOTS 2nd Hour: Trump Tariffs Latest, Chipping Away At The Semis, Battered Banks 03/05/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 5 March 2025

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Another morning of red on the S&P and Nasdaq - Carl Quintanilla, Sara Eisen, and David Faber discussed the latest for stocks as President Trump warns of “disturbance” ahead when it comes to tariffs. Goldman’s Chief Equity Strategist David Kostin breaking down why he still sees the S&P headed higher by year-end. Plus, more on where to find value here with Chief Strategists from Jefferies and Charles Schwab. Also in focus: how to navigate the chips here, and whether to take Trump’s vow to revoke the CHIPS Act seriously; Tesla’s Germany sales plunge as Goldman cuts their price target on the name; why the CEO of KBW says to “buy trophies on sale” when it comes to the banks; and a debrief on the morning’s big retail reports. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	It's Jim Kramer here. You're listening to the opening bell of CBC squawk on the street.
0:04.7	Don't miss a minute of the action.
0:12.1	Good Wednesday morning. Welcome to another hour of squawk on the street. I'm Sarah Eisen with Carl
0:18.9	Kintania and David Faber live as always from
0:21.2	post nine of the New York Stock Exchange. Take a look at stocks. We started out with a nice little bounce rally. S&P we lost it. We're coming back. S&P now up about four tenths of a percent. So it's been a little bit choppy. The NASDAQ coming back by four tenths as well. Again, after a big sell-off yesterday into the close,
0:38.7	the Dow was up 246 points, very sensitive to these trade headlines that are coming lately. And to the
0:44.8	economic data, let's look at treasuries. There's been a lot of buying lately, and treasury yields have
0:50.3	fallen sharply. We're higher today, 422. so pretty steep to steep bounce here from the lows.
0:57.4	We were below 4.2 yesterday. The two-year yield still lower below that 4% level. We're 30 minutes
1:02.8	here into the trading session. Here are three big movers we're watching. Shares of crowd strike
1:06.7	dropping the cybersecurity company's outlook falling short of estimates. The stock also getting
1:11.2	a number of price target cuts on the street. We're looking at the 11% decline right now.
1:16.0	Novo Nordisk shares rallying the company offering its blockbuster weight loss drug
1:21.2	Wigovi for less than half the price through a new direct-to-consumer pharmacy. Also keeping
1:27.1	our eye on Tesla after another rough day yesterday,
1:30.6	a price target cut, bearish sales numbers out of Europe.
1:34.1	The stock is up, though, a percent.
1:35.5	More on Tesla coming up.
1:37.1	Market taking some heart in these ISM services number.
1:40.0	Let's get to Rick Santelli.
1:41.4	Hey, Rick.
1:42.6	Yeah, the new batch of data looking pretty solid.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.