Squawk on the Street Fed Holds Rates Steady, QXO Buys Beacon Roofing, Cramer Continues West Coast Tour 3/20/25
Mar 20, 2025
Brad Jacobs, Chairman and CEO of QXO, known for his expertise in mergers and acquisitions, discusses QXO's strategic acquisition of Beacon Roofing Supply. The conversation dives into market reactions after the Fed holds rates steady and unexpected tariff impacts on consumer spending. Jacobs also shares insights on the roofing industry's complexities and competitive landscape. Additionally, the team reflects on stock performance, humorous anecdotes about home improvement, and the broader implications of potential recessions on various sectors.
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Two Markets
- There are two stock markets: a considered one aligned with the Fed chair and a wild, overnight one divorced from fundamentals.
- These overnight futures have little correlation with prior events, influenced by speculation and new presidency.
Market Uncertainty
- Consumer spending is weakening, and tariff discussions create uncertainty, causing investors to sell.
- The uncertainty around tariff details is causing anxiety in the market.
Buy NVIDIA
- Buy NVIDIA, it's inexpensive despite the market's doubts about its growth.
- NVIDIA's AI infrastructure ambitions, spanning cloud, enterprise IT, and robotics, are underestimated.