Squawk on the Street Win Streak Ends and Fed Watch Begins, Palantir Tumbles, CEOs' Macro Message at Milken 5/6/25
May 6, 2025
Join Greg Fleming, CEO of Rockefeller Capital Management, as he dives into the recent market fluctuations following a nine-day winning streak. They discuss the surprising downturn of Palantir shares despite positive results. Fleming shares insights from the Milken Global Conference, highlighting CEOs' concerns about the macroeconomic landscape and the potential impact of Federal Reserve decisions. The conversation also touches on the caution surrounding AI advancements and their implications for the job market and investment strategies.
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Market Caution Amid Fed Watch
- The market is cautious after a steep decline and a nine-day win streak, reflecting concern over rapid macroeconomic changes.
- Investors await Fed’s guidance as uncertainty about future moves remains despite less negative positioning.
Tariff Impact on Guidance
- Despite widespread tariff concerns, many companies did not suspend earnings guidance as much as expected.
- Tariff impact seems more evident in guidance suspensions and cost impact among retail and industrial firms.
Ford Expects Permanent Tariffs
- Ford expects tariffs to remain for the next three years, impacting costs significantly despite majority U.S. manufacturing.
- The company is evaluating manufacturing footprint but price increases from moving production to the U.S. are significant.