Squawk on the Street SOTS 2nd Hour: Resilient Retail Sales, Schwab's Liz Ann Sonders, & Tiktok Deal Latest 9/16/25
Sep 16, 2025
Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, shares her insights on market trends and the potential for interest rate cuts. Bill Hartz, CEO of the Long-Term Stock Exchange, discusses the advantages of reducing the frequency of earnings reports for public companies. The conversation delves into consumer spending despite economic challenges and the excitement surrounding TikTok's potential deal with ByteDance. Additionally, Eli Lilly's investment in U.S. manufacturing signals a shift in the pharmaceutical landscape.
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Consumer Spending Still Strong
- Retail sales in August surprised to the upside and show consumers remain resilient despite slower job growth.
- That strength should boost GDP tracking for Q3 and supports risk assets in the near term.
Hawkish Cut Risk Despite Expected Cut
- Liz Ann Sonders expects a 25bp Fed cut but warns commentary could make it feel hawkish if future cuts aren't telegraphed.
- She highlights calm long-end yields as a key reason markets and small caps have held up.
Look Below Headline Inflation
- Inflation analysis requires digging below headline readings into goods versus services and tariff effects.
- Real (inflation-adjusted) sales and micro-level data reveal whether tariffs cause price increases or demand destruction.