SOTS 2nd Hour: Trump Tariffs Latest: Nvidia’s $5.5B Hit, Rare Earth Metals Probe, and More 04/16/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 16 April 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks across the board kicking off Wednesday in the red as Nvidia and the chips drag Tech lower – Carl Quintanilla, David Faber, and Leslie Picker broke down the latest for stocks on a busy morning of earnings and DC headlines, along with fresh data top of the hour. What it all means for stocks like Nvidia and AMD – as both warn of big costs tied Trump’s new curb on chips going to China… Plus: Citi’s U.S. Equity Strategist joined the team with his take on things – fresh off lowering his estimates for the S&P. Also in focus: United Airlines reporting results – what their CEO is saying about the consumer; A look at whether better-than-feared Retail Sales could be the calm before the storm; The numbers behind a historic boom in 0-day options; And a live read from outside the courtroom as the FTC’s antitrust case against Meta continues for a 3rd day Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CBC squawk on the street. Don't miss a minute of the action.
0:12.7	Good Wednesday morning. Welcome to another hour of squawk on the street. I'm Carl Kintania with Leslie Picker and David Faber, live at post night of the New York Stock Exchange. Sarah Eisen is the morning off. Opened a bit lower, losing some steam here. S&P down about 1.4%. Really NASDAX
0:26.2	bearing the brunt of the pain on some of this chip news down two and a quarter. Ten years actually
0:30.6	pretty stable around 433, busy day with retail sales, trade and tariff news, and Powell this afternoon.
0:37.3	We are also getting some economic data that's crossing the tape just now. Rick Santelli has retail sales, trade and tariff news and Powell this afternoon.
0:37.5	We are also getting some economic data that's crossing the tape just now.
0:40.8	Rick Santelli has that for us.
0:42.3	Rick.
0:43.3	Yes, David, business inventories.
0:45.3	Now, everybody's watching inventories.
0:47.3	I want to caution this is two months in arrears.
0:49.3	This is February data, expecting up two tens, and it arrives exactly up two tens, following an unrevised up three tens.
0:58.0	So if we are pulling forward, we have had a couple of positive business inventory builds in a row.
1:03.8	Last month of 24, we finished down a couple of tens, but nothing totally jumps out. Another number out, a much more real-time
1:12.8	number. National Association of Home Builders Housing Market Sentiment Index, an April number
1:18.3	comes in two points better than expected at 40, and it's one point better than 39 in the
1:26.0	rearview mirror for March.
1:28.0	So we see some bright spot there, even though housing, well, interest rates have been volatile,
1:34.3	haven't seen a lot of dropping in the mortgage arena.
1:38.0	And as Carl just pointed out, 432 and a 10 represents down a couple basis points,
1:43.9	and it's been awfully steady as equities
1:46.2	get a bit more red. Leslie, back to you.
	...

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