SOTS 2nd Hour: Ukraine-Russia Tensions, New Highs for Walmart, RFK Jr.'s Big Food Plans 11/19/24
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 19 November 2024
⏱️ 43 minutes
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| 0:00.0 | Good Tuesday morning. Welcome to another hour of Squawk on the Street. I'm Sarah Eisen with Carl |
| 0:04.2 | Kentoniette, David Faber, live as always, from Post 9 of the New York Stock Exchange. |
| 0:08.6 | Stock's under a little pressure. We're not down quite as much as we saw in the futures this |
| 0:12.2 | morning, but still down. 368 points on the Dow. S&P 500 off about a half a percent, getting |
| 0:19.0 | some headlines overseas, which we'll talk about Russia, |
| 0:21.8 | Ukraine tensions ratcheting up. That's spooking the markets. You've got every sector lower right |
| 0:27.4 | now in the S&P 500, leading us down our financials, giving back 1%. They've been super strong lately. |
| 0:33.0 | Industrial's energy at the bottom of the pack. Real estate holding up well, consumer staples, holding up better, so more of the defensive groups. There's the NASDAQ. It's down. 0.3%. You do have some strength in names like NVIDIA, which is helping. Also, Super Micro is up again today. So that's offsetting some of the losses. Apples higher again today. That's helping the NASDAQ. It's why it's not |
| 0:55.2 | worse. Take a look at treasuries right now. You're seeing a safe haven bid for bonds, and that is what we've |
| 1:01.6 | seen across assets this morning. The 10-year yield just below 4.4%. Remember, we were each inching |
| 1:07.1 | higher than 4.4 yesterday. The two-year yield below 4.3. 30 minutes here into the trading |
| 1:12.5 | session. Here are some movers we are watching. Walmart hitting new highs after raising its outlook |
| 1:17.6 | again, but lows down on the back of results, more on the retail trade coming up. Shares of |
| 1:22.6 | Super Micro, I mentioned, they're soaring. After hiring a new auditor in an effort to maintain its |
| 1:27.1 | NASDAQ listing, the stock has been cratering since peaking in March due to these growing fears about compliance with NASDAQ. |
| 1:34.3 | And then keep an eye on Google Parent Alphabet reports the Justice Department plans to ask a judge to force Google to sell off Chrome. |
| 1:41.6 | We're going to discuss the fallout on this one later this hour. But let's start on the Safe Haven bid that I mentioned, the flight to safety, because it's not just in treasuries. You're seeing it, for instance, in the Japanese yen. You're seeing it in gold prices as well, which are catching a bid. Gold hasn't done that well since the election. It ran up into the election, maybe |
| 2:00.9 | on worries about uncertainty about a result. Once we got that, it's sold off. Now it's up today |
| 2:05.1 | on these fears overseas. And it is worth highlighting. Of course, this all is after reports from |
| 2:13.0 | both now Russia and Ukraine about the U.S. long-range missiles that were used in Russia. |
| 2:19.8 | And, of course, this revision of the nuclear doctrine from Russia, Putin sort of lowering |
| 2:26.1 | the threshold for using nuclear weapons. |
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