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Squawk on the Street

Trade Tensions Effect, Meta's AI Power Play, Retail Earnings Rally 6/3/25

Squawk on the Street

CNBC

Investing, Business, News

4.1567 Ratings

🗓️ 3 June 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla and Jim Cramer explored market reaction to new developments surrounding trade tensions. AI also in the spotlight: Morgan Stanley analyst Adam Jonas' new note, Meta's 20-year deal to buy nuclear power from Constellation Energy, OpenAI CEO Sam Altman's AI prediction for 2026. Also in focus: Good news and bad news in Ford's May auto sales numbers, Dollar General and Signet Jewelers surge on earnings, CoreWeave triples since its March IPO, Cramer calls out the meme stocks. Squawk on the Street Disclaimer

Transcript

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0:00.0

Market moving insight and analysis.

0:02.1

Join Jim Kramer, David Faber, and me, Carl Kainteneah, on the opening bell hour of CNBC Squawk on the Street. Good Tuesday morning. Welcome to Squawk on the street. I'm Carl Kaintene with Jim Kramer at post-9 of the New York Stock Exchange. David Faber has the morning off. Futures are off the morning lows, but still red, not getting a lot of help from lower yields yields as the OECD again slashes its forecast

0:22.4

for U.S. economic growth. We'll get jolt to 10 a.m. Eastern time. Our roadmap begins with trade

0:27.4

tensions. The White House reportedly pushing countries to provide their best offers by tomorrow.

0:33.4

A lot of news on AI today. A new note from Morgan Stanley's Adam Jonas, this meta power deal with Constellation Energy.

0:40.0

Plus why Open AI Sam Altman predicts that AI agents will help discover new knowledge as early as 2026.

0:48.6

Meantime, stocks are headed for a lower open on continued global trade tensions, Jim.

0:52.8

We are waiting for some possible meetings in Paris tomorrow,

0:57.0

waiting for clarity on a potential call between the president and sheep.

0:59.9

The president needs a deal.

1:00.9

I know that Secretary of Commerce, Lutnik, talking about any deal,

1:05.1

any deal at this point would be regarded as being incredibly positive

1:08.8

and get some momentum going.

1:14.6

I think that Europe, which is really familiar with the U.S. judicial system, might just be saying, let's wait it out. This China negotiator, ready to play a harbor.

1:18.6

Yes, the new one.

1:20.6

I mean, you know, he's deal, no deal. I don't think he feels that we need a deal.

1:26.6

Now, I think that they're playing with fire.

1:30.0

I think there's a piece today by Rusty or Brazil, who is my RBN, which is just the best when it comes to energy.

1:40.1

Butane. We're going to embargo. It's pretty close to doing that right now.

1:48.0

Now what people don't realize is that they do not have, the Chinese do not have,

1:53.0

butane and ethane. That comes from us.

1:56.0

Yes, on May 29, the US Bureau of Industry Industry and Security said to enterprise partners, which is a

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