SOTS 2nd Hour: Trump Tariffs Latest, Nvidia Takeaways, Cracking Down on Eggflation 2/27/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 27 February 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Sara Eisen, and David Faber broke down the latest for stocks - with new housing data at the top of the hour – and some mixed messaging around tariffs out of Washington. The President confirming this morning that March 4th tariffs on Mexico and Canada will go into effect as scheduled, with an additional 10% charge going to China - bringing their total rate to 20%. Also in focus: Big Tech. The team hosted a bull/bear debate on Nvidia post-results, alongside exclusive comments from CEO Jensen Huang – and talked the potential PR problems facing Tesla, due to Elon Musk’s increasingly large obligations elsewhere (with shares now down more than 25% on the year). Plus: A fresh check on egg-flation, as President Trump calls prices “a disaster” with the CEO of Vital Farms – and a look at the secret tax break within Trump’s ‘Gold Card’ plans. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Thursday morning.
0:08.3	Welcome to another hour of squawk on the street.
0:10.4	I'm Sarah Eisen with Carl Kintania and David Faber live, as always, from post-9
0:14.5	of the New York Stock Exchange.
0:16.3	Stock started off higher.
0:17.8	Then we took a leg lower after President Trump announced new tariffs on China.
0:21.9	We'll talk about that in a moment, but we've gone negative on the S&P 500 for the day.
0:26.3	Down a third of a percent right now.
0:28.1	Tech is getting hit the hardest down 1.4%.
0:30.6	It doesn't help that NVIDIA is down 4%.
0:33.0	Sales Force down 4%, Super Micro down 11.5%.
0:36.9	Those are earning stories, but the overall market did
0:38.9	seem to shift in terms of momentum. NASDA getting hit the hardest on those tech losers down a little
0:44.1	more than 1%. The Dow remains higher just barely. We'll talk about some of the media names that are higher
0:49.2	as well. Warner Brothers Discovery at the top of the market today for a change, up 7%. Treasuries got a lot of economic data to digest to talk about.
0:57.8	We're seeing some selling of bonds, and that pushes yields a little higher, but we're still
1:02.3	talking about sub-4.3 levels on the tenure right now, the two-year yield just below 4.1.
1:08.5	We are 30 minutes here into the trading session here.
1:10.7	Our three big movers we're watching.
1:12.2	AI, Bellwether, and Vidia reporting a top and bottom line beat. Sales up 78% from last year.
1:17.7	Solid revenue guidance as well for the current quarter, but there are concerns about margins ahead.
1:22.3	We're going to get to the street's reaction in just a moment. Salesforce has mentioned also under pressure.
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