There’s a New Tariff in Town, Taking a Toll, The New Berkshire? 2/19/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 19 February 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla and Jim Cramer began the conversation discussing what the president’s new call for tariffs might mean for the markets. In his remarks to reporters yesterday, President Trump suggested 25% tariffs on autos, pharma and semiconductors that could go even higher. The anchors then shifted to some of the day’s biggest earnings movers, including Toll Brothers. Shares of the homebuilder dropped at the open following the company’s miss on estimates. Later in the hour, the desk also mentioned Bill Ackman raising his takeover offer for Howard Hughes Holdings, saying he will turn it into a ‘modern-day Berkshire.’ Squawk on the Street Disclaimer

Transcript

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0:00.0	Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanio with Jim Kramer here at post-9 of the New York Stock Exchange. David Faber's on assignment. Pre-markets, a little soft coming off those all-time highs, as the President teases once again those 25% tariffs 10-year yield about a one-week
0:23.1	high today, 457. Our roadmap begins with this new tariff threat. The president signaling those
0:28.7	levies on cars, semiconductors, and pharma. Apple's expected to unveil a new product this morning.
0:34.5	We're going to get you ready for that and shares a toll brothers under some pressure pre-market following an earnings miss. Let's begin, though, with the
0:41.6	markets following another record day for the S&P and the NDX, Jim, although the percent of
0:46.8	components, constituents at 52-week-E guys, it's pretty low. Yeah, I mean, there was a really an
0:52.6	incredible program in the last seven minutes was out of
0:55.0	high growth and into value, or some people would say value growth. It made no sense that I could tell.
1:00.8	The market was very thin. I think people have to recognize that it wasn't manipulation, but it did
1:06.0	seem strange and wrong. So I almost want to use the word phony because the market was bad yesterday.
1:14.3	It was bad yesterday in the last five minutes and I'm trying to do my show. I always like to put
1:18.8	at the beginning where we are. And I had rushed up at 5 of 4 to interview a guest.
1:23.9	Mark it was down. And it turned out I had to redo everything. Mark it was up. So we take this with the grain of salt. I think a lot of, like a lot of things we have to
1:30.9	take with a grain of salt right now. What do you make of some, and some desks pointed this out
1:34.8	this morning, some longtime popular longs, underperforming. We saw Meda's run end, App Lovin, Reddit,
1:41.8	Netflix, Spot.
1:45.0	What do you make of that?
1:46.0	These are favorites.
1:47.0	They're long favorites.
1:48.0	They've also been embraced by retail.
1:50.0	Now, some of them did not have a quarter that people wanted it.
1:52.0	Reddit did not have a corner.
	...

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