SOTS 2nd Hour: Tariff Updates, Earnings Wrap-up, and Is This Rally Real? – plus: Coca-Cola CEO Talks Results 4/29/25

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Sara Eisen (1:02)

Good Tuesday morning. Welcome 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, little changed. We're down a little bit in the S&P 500, but there's strength in groups like real estate, materials, information technology higher, utilities up as well. The Dow, 119 points up. The NASDAQ down about a quarter of 1%. It's all about earnings. Fed's in quiet period. Remember, we'll get some more economic data later in the week as well to chew on. Take a look at Treasuries right now. I will get some more this morning as well. Jolts and ConsuperData. Tenure yield, 4.185%.

So there's buying at Treasuries. Yields are a little bit lower. Two-year yield also lower at 366

Jim Cramer (1:46)

Let's get some conference board and jolts with Rick Santelli. Hey, Rick.

Rick Santelli (1:50)

Yes, and do watch yields moving down. Tenure yields below yesterday's lows. Now, let's get to the data. Consumer confidence is the reason. These are April numbers. Expecting a headline number of 88, we come in at 86.0, weakest since April of 2020 And if you look at present situation, 133.5, this is the best out of the three. This is only the weakest since Sep of 24 And if we look at expectations, 54.4. You have to go all the way back to October of 2011 to find a lower number on confidence. You know, many were wondering what was cross-fertilizing what? Equities were looking really green, interest rates moving down, fertilizing the equities. But maybe the interest rates moving down has more to do with slowness. But I do caution these confidence numbers can be a bit squishy and the uncertainty could have an over dramatic effect on it. Now, let's look at job openings and labor turnover known as jolts. This is for March. Expecting a number around 7.5 million, we come in light 7,192,000.

Smallest job opening level since SEP of 24 As we continue to watch yields move down and a slight reversal on the green in equities, but still on the Dow at least some pretty deep green. David, back to you.

David Faber (3:17)

Okay, Rick, thank you. Rick Santelli. Treasury Secretary Scott Bessen was speaking at the White House this morning. Of course, as you might imagine, a lot of the focus was on tariffs. Megan Casella, she's at the White House and has some of the highlights for us. Megan.

Megan Casella (3:32)

Hey, David, absolutely. As you said, a briefing that focused mostly on tariffs, a rare briefing from the Treasury Secretary at the White House here this morning. One piece that is moving the markets this morning was the White House responding to a report that Amazon is planning to change its prices online to show exactly how much of the price tag is due to tariffs. Take a listen here to the White House's response.

SPEAKER_11 (3:55)

I will not speak to the president's relationships with Jeff Bezos, but I will tell you that this is certainly a hostile and political action by Amazon.

Megan Casella (4:05)

Now Besant did not want to offer any specific timeline as far as what to expect on trade negotiations. He was asked about that several times. He did highlight substantial progress. He said with three countries, that's South Korea, Japan and India. Previewing some more to expect on that front. And while he didn't want to comment directly on this question we've been asking for days about whether President Trump and President Xi have been in touch specifically about tariffs, he did say this. Take a listen.