Squawk on the Street Trump Departs G7 Summit Early, Retail Sales Miss, Solar Stocks Plummet 6/17/25
Jun 17, 2025
Mike Santoli, a seasoned senior markets commentator, shares his expert insights on the current economic landscape. He discusses President Trump's abrupt exit from the G7 summit and how it affects investor sentiment. The decline in retail sales and the plummet of solar stocks tied to new tax legislation highlight market vulnerabilities. Santoli also analyzes Amazon's competitive move with its Graviton 4 chip against NVIDIA and AMD, alongside the challenges of U.S. trade talks with global partners amid evolving geopolitical tensions.
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Trump Seeks Real End to Conflict
- President Trump left the G7 summit early due to the Israel-Iran conflict and is seeking a real end to the conflict, not just a ceasefire.
- This stance aligns closely with Israeli objectives, creating uncertainty about diplomatic solutions.
May Retail Sales Weaken
- Retail sales in May fell 0.9%, weaker than expected and the largest drop since March 2023.
- Weakness was broad, including autos and restaurants, signaling potential consumer spending softness.
AWS Unveils Graviton 4 Chip
- Amazon Web Services introduced the Graviton 4 chip boasting 600 gigabytes per second networking bandwidth.
- AWS's custom chips aim to compete with Intel, AMD, and particularly Nvidia in cloud and AI markets.