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.
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Market Stuck
- The market is in a stuck period, trading within a narrow range since November 6th.
- Policy changes have been growth-neutral or slightly negative, impacting market momentum.
Trump Trades Fizzle
- Trump's front-loaded tariff policies are growth-neutral or negative, unlike his first term.
- This impacts "Trump trades" that anticipated growth-friendly policies.
New Tariffs
- Trump is considering new tariffs on all steel and aluminum imports.
- These tariffs would apply to all countries, including Canada and Mexico.