Squawk on the Street Trump and Powell, Musk-Altman Feud, Shopify Pres., SNL 50 at the NYSE 2/11/25
Feb 11, 2025
The podcast dives into President Trump's hefty tariffs and their potential economic fallout. It also highlights the fiery feud between Elon Musk and Sam Altman over OpenAI’s future. Shopify's president shares insights on the company's pivot towards enterprise clients amidst evolving trade relations. The celebration of 'Saturday Night Live's' 50th anniversary brings in anecdotes from original cast members, intertwining entertainment with market sentiments. Lastly, a heated conversation arises around the ethics of commerce related to controversial merchandise.
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Market Reaction to Tariffs
- President Trump signed tariffs on steel and aluminum, causing futures to dip and the 10-year yield to rise.
- The EU plans to retaliate, and Fed Chair Powell will likely face questions on the economic impact during his testimony.
Musk-Altman Feud
- Elon Musk offered OpenAI $97.4 billion, but Sam Altman rejected the bid.
- This action further escalates their ongoing public feud.
Altman on Musk's Bid
- Sam Altman believes Elon Musk's bid for OpenAI is a tactic to slow down a competitor, not a genuine offer.
- Altman suggests Musk is trying to catch up with his own AI venture, xAI, and its chatbot Grok.