Squawk on the Street SOTS 2nd Hour: Tariffs Countdown, Playing the Tech Tumble, Health of Housing 2/28/25
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Feb 28, 2025 The podcast dives into the looming tariff deadline impacting the automotive industry, with insights on how it's perceived as a potential disaster for American automakers. It also tackles the turbulence in the tech sector, highlighting struggles faced by giants like NVIDIA and Tesla. As the housing market shows signs of weakness, experts predict a challenging spring selling season. Meanwhile, Meta gears up to introduce a standalone AI app, promising to shake up the competition with OpenAI.
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Tech Tumble
- Technology stocks, especially the Nasdaq, have experienced significant losses this month.
- NVIDIA, Microsoft, Apple, Palantir, Meta, and Tesla are all trading lower.
PCE Inflation Report
- The Fed's preferred inflation measure (core PCE) showed a 0.3% monthly gain and the lowest annual figure since 2021.
- This eases concerns about rising inflation but shifts focus to the job market's performance next week.
Job Market Concerns
- Layoff announcements from major companies like Chevron, Southwest, Starbucks, and Meta suggest a potential cooling job market.
- This raises questions about the Fed's next move regarding interest rates.