The "Trump Trade" After the Assassination Attempt, Exclusive With BlackRock CEO Larry Fink 7/15/24

Squawk on the Street

CNBC

News, Investing, Business

4.1 • 567 Ratings

🗓️ 15 July 2024

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the first trading session since former President Donald Trump survived an assassination attempt, Carl Quintanilla and Jim Cramer discussed stock markets rising to start the week -- as a number of traders see improved chances for a Trump election victory in November. Which sectors would benefit most from such an outcome? BlackRock Chairman & CEO Larry Fink joined Jim and Carl at Post 9 to discuss everything from earnings and bitcoin -- to the way forward for the U.S. after the Trump assassination attempt. Also in focus: Goldman Sachs' earnings beat, bullish Wall Street calls on Apple, Macy's ends buyout talks, Trump Media shares soar. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:05.6	Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kenton-A. with Jim Kramer at Post-9 of the New York Stock Exchange.
0:10.3	David Faber has the morning off. Futures are solid as investors arguably continue to price in a November victory for former President Trump after the tragic attempt on his life Saturday.
0:19.8	Powell does speak at noon.
0:21.5	Earning season does kick into higher gear. A roadmap begins with futures on the move as the
0:25.9	R&C begins tonight. Apple shares rallying after this upgrade over at Loop and now a top pick at
0:31.8	Morgan Stanley. And Goldman and BlackRock, the latest banks to report. BlackRock's Larry Fink
0:37.3	will join us exclusively later on this hour.
0:41.0	Let's begin with the attempt to assassinate former President Trump over the weekend.
0:44.9	The photo, already iconic, now on the cover of time.
0:48.7	Lots of things to point to Jim in the market, whether that's Bitcoin, the curve steepening, shares of DJT, at one point
0:55.7	up 70% this morning?
0:57.5	Yeah, look, I think that we all know that, by the way of Lagerfink from BlackRock, we know that
1:04.8	former President Trump was a pro-growth president, was against any sort of rate hikes,
1:10.2	and I think that is also so anti-regulation, which is really the perhaps the most important
1:16.2	difference between Biden and Trump when it comes to business.
1:20.7	So it makes sense to me that both the yields go up and the market is very much in favor of this
1:26.9	because I think there's a belief.
1:28.6	I remember when I met President Biden several times on the train on the way to Washington,
1:32.9	he just doesn't really care for the stock market.
1:35.8	He just doesn't think it matters.
1:37.3	And as we all know, and President Trump would tell me repeatedly, that Dow Jones Industrial
	...

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