Squawk on the Street SOTS 2nd Hour: Trump Reconciliation Bill Latest, NEC Director Hassett, & IMAX CEO Talks F1: The Movie 6/30/25
Jun 30, 2025
Kevin Hassett, the former NEC Director, shares insights on the economic implications of the President’s tax and spending bill, with a focus on energy policy and the Federal Reserve. He emphasizes concerns about stagflation and the impact of tariff changes. Meanwhile, Richard Gelfond, CEO of IMAX, delves into Apple’s groundbreaking F1 movie and its massive box office success. He discusses adapting to audience demand in cinema and the summer box office's resilience, bridging finance and entertainment in exciting ways.
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Weaker Dollar's Earnings Boost
- The weakening dollar is widely expected but may already be fully priced in, raising caution among investors.
- A weaker dollar helps U.S. multinational earnings, particularly in sectors like industrials, pharma, tech, and staples.
Financials and Healthcare Picks
- Consider investing in financials and healthcare sectors, as they offer both defensive and offensive opportunities.
- Healthcare, aided by AI-driven efficiencies, is positioned for margin expansion and growth potential.
Growth Could Cut Deficit
- The Senate's "big, beautiful" tax and spending bill aims to boost growth, potentially reducing the deficit with 3% GDP growth.
- It includes the biggest tax cut and spending cut in history, designed to be fiscally responsible if growth materializes.