Squawk on the Street SOTS 2nd Hour: Stocks Rebound, Tesla’s Electric Slide - Plus Eli Lilly & Workday CEOs 2/26/25
Feb 26, 2025
David Ricks, the Chairman & CEO of Eli Lilly, shares insights on the company's strategic decision to expand US manufacturing, emphasizing its impact on the pharmaceutical landscape. Carl Eschenbach, CEO of Workday, highlights a strong quarterly performance while discussing the surging demand for AI solutions in the workforce. The conversation also touches on significant market shifts, including Tesla's declining valuation and potential tariff impacts on copper, setting a dynamic backdrop for economic growth and corporate strategies.
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Weak New Home Sales
- January new home sales were weaker than expected, down 10% from December.
- High mortgage rates and economic concerns contributed to the decline.
Potential Copper Tariffs
- President Trump is considering copper tariffs, impacting allied exporters like Chile, Canada, and Peru more than China.
- Tariffs on copper, a key material in various industries, could increase prices.
Strong Consumer Spending
- Despite concerns about consumer confidence, several companies report strong consumer activity.
- Caesars, Intuit, and AMC shared positive outlooks on consumer spending.