SOTS 2nd Hour: Tesla Loses Energy; Live: ARM CEO, and Hilton CEO Talks Growth Ahead

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Sara Eisen (0:51)

Good Thursday morning, and welcome to another hour of Squawk on the Street. I'm Sara Eisen with Carl Quintanilla, David Faber and Jim Cramer. Joining us post night of the New York Stock Exchange, Jim sticking around for a special guest. In just a moment, you will hear from RMCEO, Rene Haas, breaking down results with shares moving lower here in the early trading. But first, let's get to stocks, which are higher. S&P 500 up a little bit. The Dow Jones Industrial Average up seven, and NASDAQ up 28, after a strong day yesterday. Take a look at Treasuries. We continue to see this bit in Treasuries with yields a little bit lower. It's reversing a bit, but we're still below 4.5 on the 10-year. We're at 4.43, the two-year yield at 4.2, so kind of benign action there. We're 30 minutes here into the trading session. Here are three big movers we're watching. Pressure for the Autos. Ford is in the red after projecting mounting losses for its EV division, and Tesla's Euro deliveries come up short, the numbers later this hour.

Apple supplier Skyworks getting crushed right now, issuing a disappointing forecast for its mobile segment amid tougher competition. The company also announcing that CEO Liam Griffin is stepping down from his role later this month, stock down almost 26 percent. And then watch retail today, Tapestry, Ralph Lauren, Under Armour, Peloton, all on the move after results from all three names. We'll go over them in just a bit. But look at Ralph Lauren, up almost 14.5 percent. We've got the CEO next hour. Guys, as far as the data today, got a little bit firmer jobless claims, pretty decent productivity numbers again. Carl, I know you like to watch productivity up 1.2 percent was the last read, which added all up. You have to smooth it out. And for the last year, productivity picked up 2.3 percent. That was the most in 14 years. It's good news for the Fed too, because they've been trying to fight this inflation thing. And, you know, that helps curb labor costs. And the surge in recent productivity has helped take some of the pressure off of, for instance, the job market, and bring inflation closer to 2 percent without sacrificing unemployment. So that's, I just wanted to highlight another good news number there.

Carl Quintanilla (2:56)

Yeah, speaking of employment, I know you're watching estimates for tomorrow's jobs number. Goldman's above consensus at 190

Sara Eisen (3:02)

170 is kind of consensus now.

Carl Quintanilla (3:04)

They're looking for maybe fires and cold weather to subtract about 20K. And, of course, we'll have to juggle those benchmark revisions, too.

Sara Eisen (3:12)

Yeah, there's a few factors here. So we'll watch the jobs. It's a little early to see some of the question marks over the labor market. And by question marks, I mean, OK, so we learned what, 2 percent of the federal workers took buyouts?

Carl Quintanilla (3:26)

The journal's reporting 40,000.

Sara Eisen (3:28)

Right, 40,000.

Carl Quintanilla (3:28)

That would be about 2 percent. That they were targeting 5 to 10

Sara Eisen (3:31)

We don't know exactly how high that number is going to get and whether it will impact. Obviously, it's early to come up in the realized data, but it's a factor, right, that we're going to watch. The other factor we're watching is immigration and the crackdown on illegal immigration and whether that ultimately has an impact on the jobs. None of this is necessarily for tomorrow's report, but I'm just bringing it out there because kind of changing dynamics potentially influencing the job market. But the market has shown, Jim, it's very sensitive to job numbers, maybe over inflation numbers now as a potential next move for the Fed.

Jim Cramer (4:05)

It has to be because, look, we… Did you see the Atlanta Fed guided down yesterday?

Sara Eisen (4:13)

On GDP?

Jim Cramer (4:13)

It was like… I was so glad. Because I'm just at the point where I'm thinking that… But you imagine if J-PAL has to, like, stay… Look, I don't care at all about the president. I made a mistake. Rates have to go higher. I mean, no, we need to see a break. But I've got to tell you, if you're going to deport a huge number of people, we're going to be at a loss.