Squawk on the Street

David Harrow, a Partner and CIO at Harris Associates, shares his expertise on international equities. He discusses the positive CPI report and its implications for the Federal Reserve's future rate decisions. The conversation shifts to recent bank earnings, focusing on key players like J.P. Morgan and Goldman Sachs. Harrow highlights the investment potential in European markets, particularly attractive price-to-earnings ratios and economic policies. Finally, they delve into the impact of California wildfires on local real estate and rental markets.

The podcast dives into the stock market's surge after promising inflation data and strong earnings from major banks. It highlights the buzz around quantum stocks, driven by Microsoft’s positive remarks. Discussions also cover the implications of Supreme Court actions on TikTok, the challenges faced in California due to wildfires, and regulatory hurdles for AI chip exports to China. With a focus on shifting market dynamics, the speakers analyze job creation and evolving corporate strategies in response to economic changes.

Calvin McDonald, CEO of Lululemon, shares insights on the brand's recent successes and strategic growth amid rising inflation concerns. Stacey Rask dives into the semiconductor industry, discussing government regulations and their impact on companies like NVIDIA. Peter Harrell, a former National Security Council Senior Director, analyzes the implications of potential TikTok restrictions in the U.S., covering national security concerns and the shifting media landscape. The conversation includes market reactions to recent economic data and JPMorgan’s leadership changes.

David Ricks, CEO of Eli Lilly and Company, shares insights on the promising landscape for the company’s weight loss drugs. He discusses healthcare payment complexities and the shift in perception of obesity as a disease. The conversation also touches on the repercussions of inflation data on the market and Elon Musk's potential acquisition of TikTok, exploring the tech landscape's evolution. Amidst regulatory challenges, Ricks highlights the innovative strategies driving pharmaceutical growth, making for an engaging and informative discussion.

Tom Michaud, CEO of KBW Stifel, shares his insights on the banking sector's earnings potential, emphasizing bullish trends. He discusses the impact of rising interest rates on financial stocks and the upcoming earnings season. The conversation also highlights Mark Zuckerberg’s criticisms of Apple, focusing on innovation and regulatory issues. Furthermore, the challenges facing TikTok amid potential bans are explored, alongside the implications for community resilience in California following recent wildfires.

The tech sector faces a sell-off, raising concerns about innovation and market dynamics. Mark Zuckerberg takes a jab at Apple while discussing 'masculine energy.' Jim Cramer shares insights from the J.P. Morgan Healthcare Conference, emphasizing challenges in healthcare. In corporate news, Johnson & Johnson is acquiring a drugmaker for $14.6 billion, while Cleveland-Cliffs eyes a partnership with Nucor for a bid on U.S. Steel. Economic uncertainties and the impact of California wildfires add to the market's complex landscape.

Jim and Jeff reveal their bullish stance on a key home improvement stock amid shifting economic signals. They dissect the implications of a robust jobs market and rising interest rates, highlighting the tensions between bonds and stocks. The duo then explores investment prospects in Home Depot, emphasizing its adaptive responses after recent natural disasters and the resulting demand surge, positioning it favorably against other retailers. Expect candid insights that may reshape your market perspective!

Austan Goolsbee, the President of the Chicago Fed, shares insights on sticky inflation and the implications for rate cuts, emphasizing the nuances of the current job market and consumer confidence. Joe Dominguez, CEO of Constellation Energy, discusses the major $19 billion acquisition of Calpine, highlighting its significance in a surging energy sector. They touch on the intertwining impact of rising treasury yields, challenges in productivity growth, and the ongoing wildfires affecting California.

The stronger-than-expected jobs report sparked a market downturn, with rising bond yields raising concerns about interest rate cuts. Delta and Walgreens enjoyed stock surges after impressive earnings. Constellation Energy's massive $16.4 billion acquisition of Calpine highlights the urgent power demands from AI data centers. Additionally, California's wildfires affected communities and raised recovery challenges. Elon Musk's anticipations for DOGE and shifts in sports broadcasting also added another layer of intrigue to the market discussions.

Carl Quintanilla, Sara Eisen and David Faber began the show with stocks in the red as higher yields continued to bite. Sara broke down the morning’s data – ADP & Jobless Claims – ahead of a big interview with Outgoing Treasury Secretary Janet Yellen, and the team discussed the road ahead for markets with Truist Wealth’s Co-CIO Keith Lerner (who says to bet on Tech here).  A key sector lagging? Big tech, primarily Nvidia. Wedbush still calls the stock a buy, and the analyst behind that call joined the broadcast to defend his price target. Also in focus: Palantir slides into correction territory, quantum computing stocks slump after new comments from Nvidia CEO Jensen Huang, and the state of commercial real estate with RXR Chairman Scott Rechler. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.