Squawk on the Street
Trump's Tariff Threat, Retail Earnings Ahead of Black Friday, Amgen Tumbles on Weight-Loss Drug Data 11/26/24
Nov 26, 2024
The discussion kicks off with President-elect Trump's tariff threats, stirring concerns in various market sectors. With Black Friday approaching, earnings from retailers like Best Buy are analyzed for holiday quarter insights. Amgen faces a stock slide due to disappointing results from its weight-loss drug trials. The hosts delve into Bitcoin's recent downturn and examine the innovative AI sounds being pioneered by Nvidia. Tensions heat up with a look at the geopolitical landscape affecting major oil players like Chevron and Exxon.
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Quick takeaways
- Trump's proposed tariffs on imports are causing market volatility and raising concerns about their long-term impacts on trade and inflation.
- Amgen's disappointing obesity drug trial results underscore the challenges of competing in a market dominated by established players like Eli Lilly.
Deep dives
Market Reactions to Tariffs and Retail Earnings
The announcement of new import tariffs by the president-elect is generating mixed reactions in the stock market, with futures showing volatility. The tariffs include a 25% levy on products from Mexico and Canada and an additional 10% on goods from China. Retail earnings reports are also influencing market behavior, as some retailers signal strong performance entering the holiday season while others struggle. Analysts are keeping a close eye on how these economic changes may impact consumer spending and inflation in the coming months.
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