Squawk on the Street SOTS 2nd Hour: Stocks Near Fresh Highs, The Fate of Intel, and Let's Grok & Roll 2/18/25
Feb 18, 2025
Carlos Gutierrez, former U.S. Commerce Secretary and CEO of Kellogg's, provides sharp insights on trade and tariffs. He discusses the potential repercussions of new tariffs and the importance of strategic negotiations. The conversation covers Intel's restructuring amid interest from Broadcom and Taiwan Semiconductor, highlighting the industry's geopolitical dynamics. Also, a read on the challenges of U.S. fiscal policy unfolds, emphasizing the need for reform in light of rising expenditures.
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Market Resilience
- The S&P 500 hovers near record highs despite recent noise, like the CPI surprise.
- Market sentiment remains positive, but a breakout is needed for confirmation.
U.S. Stock Underperformance
- Contrary to initial predictions, U.S. stocks have underperformed the rest of the world in early 2025.
- This is possibly due to factors like tariff uncertainty and the U.S. market's higher starting valuation.
Doge Data Access Controversy
- Doge's attempts to access sensitive data at federal agencies are facing resistance.
- The acting administrator of the Social Security Administration resigned after refusing Doge access.