Squawk on the Street SOTS 2nd Hour: Trading Nvidia's GTC Conference, Fresh Fed Drama, & Paris Trade Talks 3/16/26
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Mar 16, 2026 Fred Kemp, Atlantic Council president, gives geopolitical analysis on Iran, risks to shipping in the Strait of Hormuz, and global economic fallout. Brian Sullivan, CNBC reporter, files live from Paris on China trade talks and speaks with the Treasury Secretary about oil and the strait. They also tackle Nvidia's GTC, market positioning ahead of the Fed, and potential delays around Fed leadership moves.
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Fed Caught Between Hot Inflation And Softening Jobs
- The Fed faces a tug-of-war between cooling inflation and weakening jobs that complicates rate decisions.
- Sara Eisen and Carl Quintanilla note PCE at 2.8% and unemployment rising to 4.4%, meaning cuts versus holds are both defensible.
Prefer Fundamentals Over Big Sector Calls Right Now
- Avoid making big sector bets tied to oil; favor cheaper, profitable companies with earnings momentum.
- Michael Kantrowitz recommends a sector-neutral, fundamentals-first basket to weather oil-driven whipsaws.
Spread Widening Is Largely Driven By Oil And Rates
- Credit spreads have widened mostly due to higher oil and interest rates rather than pure cyclical credit deterioration.
- Kantrowitz links wider spreads to inflationary pressures and a rising 10-year moving with oil.