SOTS 2nd Hour: More Tariff Headlines, CoreWeave IPO Latest, & Related Cos CEO on Data Center Push 3/27/25

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Sara Eisen (1:32)

Good Thursday morning. Welcome back to Squawk on the Street. I'm Sara Eisen with Carl Quintanilla and David Faber, live as always from Post 9 of the New York Stock Exchange. Stocks are under a little pressure here though. We've come back off the lows of the first half hour of trading, say, with some strength in consumer staples today. They're up three quarters of 1 percent, so that's a bit defensive along with utilities, real estate, and health care. But also consumer discretionary as a group is higher. That's thanks in part to Tesla, which is rallying 2.4 percent. It's the best performing automaker for sure today. AutoZone, O'Reilly, so some of the parts makers. Also some of the casino stocks and retailers also having a pretty decent day today. Technology though is under pressure again. Energy is getting hurt today. Financials are actually red. Some of the other automakers hit. We'll talk about that with the new auto tariffs.

Take a look at treasuries right now. The instinct on the auto tariffs was actually to sell treasuries with yields going higher, potentially on an inflationary impact. Ten-year yield moves towards 4.4 percent. So we're going off the lows where we were there, below 4.3, 4.2 percent recently. The two-year yield though, it's below 4 percent, getting a bit of a boost there. We're going to talk to Jonny Fine of Goldman Sachs later this hour. Thirty minutes here into the trading session. Here are some movers we're watching. Mention the automakers front and center today. Take a leg lower after President Trump announced a 25 percent tariff on cars made outside the United States. We're going to talk more about the economics of it in just a moment. Both gold and copper hitting new record highs as the tariff volatility continues. Potentially some copper tariffs coming and gold has benefited from all the tariff noise. Shares of Jeffries under pressure after new numbers there, reporting a quote meaningful decline in asset management returns. The company's CEO saying in the release that capital markets have become increasingly challenged due to quote uncertainties that have arisen around US policy and geopolitical events. Carl.

Carl Quintanilla (3:27)

Let's get some pending home sales out a couple of moments ago with Diana Olick. Morning Diana.

Diana Olick (3:32)

Morning Carl. Pending home sales in February rose 2% month to month. The street was looking for a 1% gain, but just for context, January was the lowest read on record for this index. So now we're 2% higher than that. Sales were 3.6% lower than February of last year, all according to the realtors. Now this count is based on signed contracts. So people out shopping and inking deals when the average rate on the 30-year fixed was dropping from just over 7% to six and three-quarters, it is at 6.8% today. Regionally, pending sales were higher in the south and midwest, lower in the northeast and west. The west is at the weakest level. Of course, that is where home prices are the highest. But back to that national sales picture, I just want to mention sales were significantly lower than a year ago despite the fact that the supply of homes for sale is up nearly 28% from a year ago. The problem is both affordability and uncertainty over the broader economy and employment. We've also seen personal debt levels rise, which of course makes qualifying for a mortgage even harder. Sara.