Squawk on the Street SOTS 2nd Hour: Alphabet’s Revenue Miss, Musk’s Role in Government, Live: Shell CEO 02/05/25
Feb 5, 2025
Wael Sawan, the CEO of Shell, shares his insights on navigating the complex waters of global trade tensions and the ever-evolving energy market. He discusses the impact of U.S.-China trade dynamics on energy exports and highlights the crucial role of liquefied natural gas. Sawan emphasizes the importance of resilience amid geopolitical uncertainties and explains how Shell is adapting its strategies to fluctuations in energy demand and prices. Additionally, important trends in the tech sector, including Alphabet's revenue miss and scrutiny of big-tech practices, are critiqued.
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Market Movers
- Tech and communication services stocks are facing pressure.
- Alphabet is down 8% due to revenue miss and high AI investments, while Apple faces a potential Chinese probe.
January Service PMI
- The ISM service PMI for January came in lighter than expected at 52.8.
- New orders and service employment were also weaker than anticipated.
ADP Jobs Report
- The ADP private sector jobs report shows an increase of 183,000 jobs, exceeding expectations.
- Job growth is primarily in the services sector, while manufacturing jobs decline.