Squawk on the Street

Exclusive: Fmr. Treasury Secretary Mnuchin on NYCB Investment 3/7/24

Mar 7, 2024

Former Treasury Secretary Mnuchin's firm invests $1 billion in embattled lender NYCB. Novo Nordisk hits record high. Fed Chair Powell testifies. Retail earnings winners. Exxon vs. Chevron-Hess deal. Can Apple shares rebound?

49:00

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Episode guests

Steven Mnuchin

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Episode notes

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Quick takeaways

Investing mindset shift with Spyder S&P 500 ETF launch by State Street.

NYCB's cash injection led by Mnuchin raises questions on safety and bank's future.

Novo Nordisk's strong stock surge post-promising obesity drug trial results.

Deep dives

State Street Spyder S&P 500 ETF and Investing

State Street launched the Spyder S&P 500 ETF 30 years ago, revolutionizing investment strategies. The Spy ETF inspired a shift in investment mindset, urging investors to consider risks, charges, and investment objectives before jumping into the market.

Introduction

2min

Mnuchin's Firm Leads Billion-Dollar Investment in NYCB

11min

Discussion on NYC B Investment and Upcoming Interviews in Europe and Retail Sector

2min

Analysis of Investment in New York Community Bank by Former Treasury Secretary

2min

Navigating Risk and Capital Preservation in Loan Portfolios

14min

Market Analysis and Future Prospects

5min

Discussion on Copilot Introduction, Generative AI, and Aging Humor

2min

Market Events and Surprising Behavior in the Oil Industry

8min

Discussion on Retail Performances, Tech Stocks, and Market Events

2min

10.

Financial Insights and Market Trends Analysis

2min

11.

Updates on Latin American Division, Gap's Trends, and Stock Speculations

2min

David Faber, Jim Cramer and Carl Quintanilla spoke exclusively with former Treasury Secretary Steven Mnuchin. Embattled lender New York Community Bancorp secured a $1 billion cash injection from a consortium led by Mnuchin's firm Liberty Strategic Partners. He stated his case for investing in NYCB. Also in focus: Novo Nordisk surges to a record high on obesity pill trial results, day two for Fed Chair Powell on Capitol Hill, retail earnings winners, Exxon vs. the Chevron-Hess deal, can Apple shares snap a six-session losing streak?

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