Squawk on the Street
SOTS 2nd Hour: Trump Tariff Talk, Tepper’s New China Bets, and NFL Superagent Drew Rosenhaus 2/10/25
Feb 10, 2025
Venu Krishna, head of U.S. equity-linked strategies at Barclays, shares insights on President Trump’s potential tariffs and their implications for S&P earnings. He discusses how China is better prepared this time around and what sectors may be at risk. The conversation also covers David Tepper's big bets on Chinese tech stocks like Alibaba amid market uncertainties. Additionally, NFL superagent Drew Rosenhaus weighs in on the league’s growth and the balance between expansion and player health.
42:25
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Quick takeaways
- President Trump's proposed tariffs on steel and aluminum imports could lead to a low single-digit decline in S&P earnings, impacting market sectors significantly.
- David Tepper's increased investments in Chinese tech stocks suggest a strategic bet on recovery, reflecting a shift towards undervalued opportunities amid trade uncertainties.
Deep dives
Impact of Tariffs on the Market
The recent announcement of new tariffs proposed by President Trump is projected to have a significant impact on the market, particularly affecting sectors like energy materials and discretionary spending. It is estimated that these tariffs could lead to a low single-digit decline in S&P earnings. Investors are monitoring the potential retaliatory actions that could stem from these tariffs, which further complicates the economic outlook. Despite the negative implications, there seems to be an overall belief in the market that these tariffs may not fully materialize, contributing to a somewhat positive market sentiment.
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