Squawk on the Street SOTS 2nd Hour: Tariff Whiplash, Nvidia Expectations, and Musk’s “24/7” Promise 5/27/25
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May 27, 2025 Leslie Picker, a CNBC reporter specializing in banking and finance, discusses the impact of President Trump's delayed tariff plans on the stock market. She highlights how companies are adapting to rising tariffs and the strategic moves needed to navigate trade complexities. Picker also dives into Nvidia's promising earnings outlook and the slow adoption of AI in banking, emphasizing the pressing need for workforce upskilling. Plus, the panel shares insights on the blockbuster Memorial Day weekend, revealing trends in the film industry and audience engagement.
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Consumer Confidence Rebounds
- Early data shows consumer confidence is rebounding strongly despite tariff fears.
- Layoff warnings remain low, signaling resilience and stability in jobs.
Retail Trading Pattern Shifts
- Retail traders remain net buyers but with less aggressiveness amid market volatility.
- Speculation surges in some tech names, driven by momentum over fundamentals.
Elon Musk’s 24/7 Factory Commitment
- Elon Musk commits to spending '24-7' time on Tesla factory floors and key projects.
- Musk focuses on Tesla, X, XAI, and upcoming Starship launch, energizing investors.