Trump on Capitol Hill, Home Depot's Tariff Message, Musk Countdown 5/20/25

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 20 May 2025

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

With the S&P 500 in the midst of a six-session win streak, Carl Quintanilla and Jim Cramer reacted to what President Trump said on Capitol Hill ahead of his meeting with House Republicans, as he seeks to get holdouts on board with his tax and spending cuts legislation. Home Depot posted mixed quarterly results, reaffirmed sales guidance and said it isn't planning price hikes to offset tariffs. The anchors discussed all things Tesla ahead of David Faber's big Tuesday interview with Elon Musk. Squawk on the Street Disclaimer

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0:00.0	Market Moving Insight and Analysis.
0:02.0	Join Jim Kramer, David Faber and me, Carl Kintanilla,
0:05.0	on the opening bell hour of CNBC Squawk on the Street.
0:08.0	Good Tuesday morning, welcome to Squawk on the Street.
0:10.0	I'm Carl Kintanier with Jim Kramer at Post 9 of the New York Stock Exchange.
0:13.0	Fabers on assignment, getting ready for a big interview today with Elon Musk today on Power Lunch at 2 p.m. Eastern time.
0:21.6	Meanwhile, fairly steady pre-market after Monday's upside reversal, 10-year yields below 4.5.
0:27.0	Our road met this morning, stock's coming off a sixth day of gains.
0:31.4	S&P's now about 3% from new highs.
0:34.1	Home Depot with a rare miss, but the stock is up on news about the outlook and pricing,
0:38.5	and the president goes to the hill today, this hour, in fact, to rally support for the GOP
0:43.0	budget. Let's begin with the markets today, Jim. A lot of discussion about why retail came in
0:48.9	middle of the day. I know, but I think that it's all coming down to cadence, and I do think that Home Depot's got two things going for it that the others don't.
0:57.9	One is that this is gardening season, and I was out there with Home Depot February, had been a bad month because of weather.
1:04.0	So when we saw the actual number, we were very happy.
1:06.9	And then Home Depot came out with something that we all wish Walmart to come out with, which is no increase because of the tariffs.
1:14.3	But Home Depot is king, and they're able to say to a couple of captive suppliers, forget about it.
1:23.5	Oh, look what we got here.
1:24.7	President.
1:25.2	President arriving almost exactly on time, Capitol Hill today as he makes some remarks.
1:30.3	I don't think we've ever had a party like this.
1:32.3	There are some people that want a couple of things that maybe I don't like or that they're not going to get.
	...

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