Squawk on the Street Squawk on the Street 2ND Hour 11/26/24
Nov 26, 2024
The discussion kicks off with the mixed performance of stock indices and crucial corporate news as the holiday season approaches. Economic indicators reveal rising consumer confidence but falling home sales, amidst tariffs affecting trade relationships. Retail trends come under the spotlight as companies face unique challenges, particularly in the apparel sector. The volatile Bitcoin market is examined alongside weight loss drug developments and their future in Medicare. Corporate policy shifts at Walmart highlight the push for changes in diversity and inclusion due to activist pressures.
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Tariff Threat as Negotiating Tactic
- President-elect Trump's tariff threats impact markets, affecting currencies and automakers.
- These threats are seen as negotiating tactics, potentially easing with concessions on key issues.
Canada and Mexico's Economic Dependence on US Exports
- Canada and Mexico heavily rely on exports to the US, making them vulnerable to tariff threats.
- Their economies are significantly tied to US trade, as shown by export percentages.
2019 Tariff Precedent
- In 2019, Trump announced tariffs on Mexico, but they were dropped after a border agreement.
- Jeffrey Kleintop suggests the current tariff announcement aims to extract concessions, similar to 2019.