Squawk on the Street

Latest Episodes:

Making Sense of a Roller Coaster Market Week, EV News from Lucid to Musk to Ford, Mark Cuban Tweets About Regulating Crypto, Biden vs. Manchin, COVID Vaccine Booster Shot Watch, and a Bullish Week for Wall Street Debuts Sep 17, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber cap a roller coaster week for the market with a look at the tug-of-war between economic data versus supply chain issues and what's at stake for stocks. Pfizer and Moderna pushing for COVID vaccine booster shots ahead of a key FDA advisory committee meeting. The anchors reacted to what former FDA Commissioner Dr. Scott Gottlieb told CNBC about the age factor when it comes to administering boosters. Lots of electric vehicle news: Lucid shares extended sharp gains from Thursday, after the Environmental Protection Agency gave one of the startup's luxury sedans a record mileage rating of 520 miles. Tesla CEO Elon Musk complimented Chinese automakers in pre-recorded remarks to a green-vehicle conference in China, while Ford says it is ramping up production of its all-electric F-150 Lightning pickup truck. The anchors also discussed President Biden making the case for hiking taxes on corporations and the wealthy to pay for a $3.5-trillion reconciliation package while facing opposition from Sen. Joe Manchin (D-WV) who thinks the price tag is too high. Carl, Jim and David reacted to Mark Cuban's tweet that cryptocurrency "regulation built around existing fraud laws is not a bad thing" -- and looked back at what SEC Chair Gary Gensler told them, about crypto during Wednesday's interview. Also in focus: This week's strong Wall Street debuts from the likes of drive-through coffee chain Dutch Bros. and Swiss sneaker company On Holding, a closer look at the size of SPAC redemption, proxy advisor Institutional Shareholder Services recommends a "no" vote on Zoom Video's deal to acquire Five9, and tech CEOs Tim Cook, Elon Musk and Jensen Huang are added to the 2021 "Time 100" list. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Market Reaction to a Surprise Jump in Retail Sales, Elon Musk's SpaceX Makes History, and the Railroad Bidding War Ends: The CEOs of Canadian Pacific and Kansas City Southern on their $27B Merger Deal. Plus, Sen. Warren's Message: Ban Fed Officials from Stock Trading. Sep 16, 2021

Show notes

Carl Quintanilla and Mike Santoli led of the show with market reaction to government retail sales data for August showing a surprise gain of 0.7%, despite the COVID-19 Delta variant outbreak. They also discussed two Wall Street notes on Delta and the consumer: Bank of America says a pickup in consumer spending could be an "early sign that the Delta-lull is passing and a mini-reopening cycle starting," while J.P. Morgan says several indicators "are pointing to an inflection in the Delta variant, setting up for a powerful holiday season (unlike last year)." At the Kennedy Space Center in Florida, Morgan Brennan recapped the historic "Inspiration4" all-civilian flight to orbit launched by Elon Musk's SpaceX -- and looked at how space-related stocks such as Virgin Galactic are reacting to the mission. Morgan also interviewed Canadian Pacific CEO Keith Creel and Kansas City Southern CEO Patrick Ottensmeyer after both railroad operators agreed to merge in a $27-billion deal, bringing an end to a long, drawn-out bidding war for KCS between CP and Canadian National Railway. Also in focus: Cathie Wood's Ark funds reportedly sold more shares of Tesla – this time 81,600 valued at about $62-million, Cisco rises on a growth forecast and upgrades (Carl and Mike react to what the company's CEO Chuck Robbins told CNBC), why shares of American Express, Chipotle and DoorDash saw gains in early trading, the Fed to re-examine ethics rules surrounding stock trading by Fed officials, and Senator Elizabeth Warren (D-MA) calls for a ban on Fed officials owning and trading individual stocks. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

An Exclusive Interview With SEC Chair Gensler, Reaction to Apple's New iPhone 13, a Double Boost for Microsoft, and Casino Stocks Tumble on the "Macau Effect Sep 15, 2021

Show notes

SEC Chair Gary Gensler joined "Squawk on the Street" for an exclusive interview. David Faber, Jim Cramer and Carl Quintanilla discussed a wide range of topics with Gensler: Cryptocurrency, Robinhood - specifically in terms of a potential payment for order flow ban - the SPAC market, China and finally the Archegos fallout and the market for total return swaps. As for the market action, the anchors took a closer look at Apple one day after the company's product launch event featuring the new iPhone 13 lineup and other devices. Also in focus: Microsoft boosts its dividend by 11-percent and approves a $60-billion stock buyback program, casino stocks in the U.S. and Hong Kong tumble again on worries about tighter regulations in Macau, the natural gas price rally rolls on, Canadian National will not improve its offer to buy Kansas City Southern, and fallout for Facebook on a report that says company research shows the social network knows Instagram is toxic for teen girls. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Markets and Tamer Inflation Data, SEC Chair Gensler Heads to the Hill, Apple Product Event Countdown, Goldman Sachs CFO to Step Down, Sen. Warren Urges the Fed to Break Up Wells Fargo, and AOC's "Tax the Rich" Message at the Met Gala Sep 14, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber led off the show with inflation data that gave futures an early boost: The Consumer Price Index for August coming in up 0.3-percent -- the lowest level in seven months -- with the core rate (minus food and energy) up 0.1-percent. Both readings tamer than Wall Street estimates. Cramer says that CPI "flies in the face of the bearish narrative" on the markets, though he added to keep an eye on seasonality and that we could be in for the roughest four months of the year. The anchors also previewed SEC Chair Gary Gensler's testimony before the Senate Banking Committee, including planned remarks about regulating cryptocurrency and referencing the "Wild West." Carl, Jim and David also explored what to expect from Apple's product event -- the company slated to unveil new iPhone models and other devices. Goldman Sachs announced a change in its executive ranks: Stephen Scherr will step down as CFO at the end of the year. Also in focus: A $4,700 price target for Amazon, casino stocks tumble on worries about Macau ramping up government supervision of gaming operations, Sen. Elizabeth Warren (D-MA) calls on the Fed to break up Wells Fargo, Intuit buys Mailchimp for $12-billion in cash and stock, Boeing raises its jet demand forecast, and Rep. Alexandria Ocasio-Cortez (D-NY) wears a "Tax the Rich" dress to Monday night's Met Gala in New York City. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks Look To Bounce Back From A Rough Week, Supply Chain Worries, Taxes and the $3.5T Plan, KC Southern Declares a "Superior" Bid, Epic Games vs. Apple, Disney's Film Release Strategy and Goldman's Tech "Buy" and "Sell" Calls. Sep 13, 2021

Show notes

With the Dow and S&P 500 each looking to snap a five-session losing streak, Carl Quintanilla, Jim Cramer and David Faber led off the show with a look at what's next for the markets. Supply chain and inflation issues in the spotlight after 3M said " the rising price of raw materials, labor and logistic" would hurt the company's bottom line. The anchors also reacted to Nike being downgraded by BTIG because of supply concerns. The potential for tax hikes on Wall Street's radar as Capitol Hill Democrats work on a reconciliation package. The anchors discussed a note from Goldman Sachs strategist David Kostin in which he says "Tax reform ... is the key risk to US equities through year-end 2021." They also reacted to comments by Senator Joe Manchin (D-WV) to NBC's "Meet The Press" reiterating his objection to a $3.5-trillion price tag. On the railroad M&A front, Kansas City Southern declaring Canadian Pacific's $31-billion takeover offer to be "superior" to a rival bid from Canadian National. Also in focus: "Fortnite" maker Epic Games appeals the Friday court ruling that said Apple was not running an illegal monopoly with its app store, Disney says its remaining movie slate for 2021 will be released exclusively in theaters, why energy stocks are driving the S&P 500 higher, and Goldman Sachs initiates coverage of several internet-related names -- Amazon, Facebook and Alphabet among those rated a "buy," while Airbnb and Twitter were slapped with "sell" ratings. David explains what's behind the surge in uranium prices. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

America Remembers 9/11: 20 Years Later. Plus, The Market's 4-Day Losing Streak, Pres. Biden's Sweeping Vaccination Push, The Biden-Xi Phone Call, Beijing's Crackdown on Tech, and Affirm Soars - "Buy Now?" Sep 10, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber led off the show with reflections on 9/11 twenty years later, including a look back at what David and the late Mark Haines said on CNBC after the World Trade Center's twin towers were struck. The NYSE and Nasdaq each observed a moment of silence prior to the opening bell. Don Carty was the CEO of American Airlines parent AMR on 9/11 twenty years ago. He appeared on the program and shared his recollections of that day -- as well as his thoughts on how the airline industry has rebounded. Bob Pisani looked back at how 9/11 forever changed New York's financial district. As for the markets, Carl, Jim and David took a closer look at stocks with the Dow and S&P 500 in the midst of a four-day losing streak. They discussed President Biden's Thursday phone call with China's President Xi. Cramer offered his take on how investors should assess this development. The anchors also looked at where China's crackdown on tech companies fits into the picture. Speaking of tech, shares of "buy now, pay later" company Affirm soared on upbeat revenue and guidance. The anchors reacted to what Affirm Co-Founder & CEO Max Levchin told CNBC about his company benefiting from customer satisfaction. Also in focus: Pres. Biden's new COVID-19 mandates and the reopening trade, Take-Two Interactive delaying new versions of "Grand Theft Auto" by four months, plus the latest on Coinbase vs. the SEC. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The COVID Effect on Markets and Impact on the Airlines, GameStop Tumbles, Lululemon Surges, China Ramps Up Its Crackdown on Gaming, and Tom Brady's Crypto Ad Ahead of the NFL Season Kickoff Sep 09, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber led off the show with a look at COVID and the Delta variant's impact on the markets, as the Dow and S&P 500 are in the midst of a three-day losing streak. Airlines including Southwest, United and Delta say they have seen cancellations and softness in booking due to the variant outbreak. The anchors also reacted to Wednesday comments from Dallas Fed President Robert Kaplan about COVID's resurgence and impact on the travel, hospitality and leisure industries. Kaplan said that as a result, the Dallas Fed would be revising its Q3 GDP forecast downward to six-percent growth. On the earnings front, GameStop shares down sharply after posting a narrower quarterly loss that still missed street estimates, though revenue did top forecasts as sales grew more than 25-percent. Carl, Jim and David discussed CEO Matt Furlong ending GameStop's conference call without taking questions from analysts. On the flip side, shares of Lululemon surged on upbeat earnings and guidance, helped by strong direct-to-consumer sales. A new development regarding China's crackdown on tech: NetEase, Tencent and other videogame companies have been summoned by authorities in Beijing -- and ordered to follow new rules for the online-gaming industry. Tech investor Cathie Wood says her Ark funds have reduced their positioning in China "dramatically." Also in focus: Macy's shares jump on an upgrade from Cowen, President Biden to announce a vaccine requirement for federal workers, what the CNBC Post-SPAC Index is telling us about SPAC valuations, Morgan Stanley downgrades Cisco, and Tom Brady appears in an ad for crypto exchange FTX set to air during the Bucs-Cowboys telecast which kicks off the NFL season. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Cramer's Back, Tech's "Remarkable Staying Power," PayPal's Japanese "Buy Now, Pay Later" Deal , Coinbase vs. SEC, Apple from Record Highs to Ford's Poaching, the Bitcoin "Flash Crash" and BlackRock Fires Back at George Soros Sep 08, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber led off the show by discussing Jim's first take on the market since his return from vacation. He said "the remarkable staying power of technology has kept this market afloat" in the face of inflation fears, the COVID-19 Delta variant outbreak, Fed taper talk and worries about a growth slowdown. Cramer explained why he believes big tech will retain its leadership role. Speaking of tech, the anchors discussed PayPal's $2.7-billion deal for Japan's Paidy and what it could mean for the payments landscape as the "buy now, pay later" market heats up. Coinbase shares falling after the largest crypto exchange in the U.S. said the SEC is threatening to sue the company over its planned "Lend" product that would allow users to earn interest by lending crypto assets. The anchors reacted to how Coinbase CEO Brian Armstrong responded on Twitter to the SEC's Wells notice and defended his company's product. Lots of news regarding Apple: The stock entering Wednesday's session at record highs on the heels of the company announcing a product launch event slated for September 14, Morgan Stanley's Katy Huberty out with a note on Apple saying the recent App Store headlines have more bark than bite, and Ford announcing it has hired away Doug Field from apple to lead the automaker's emerging technology efforts. Field had been working on Apple's secret car project. Also in focus: The move in Bitcoin after Tuesday's brief 17-percent drop, China-based stocks and the latest on Beijing's crackdown, BlackRock responds to billionaire investor George Soros' criticism of its China investments, and Dallas Fed President Robert Kaplan reportedly made multiple stock trades of a million dollars or more last year. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The August Jobs Report's Big Miss and Market Reaction, the "State" of Didi and the China Crackdown, Railroad Bidding War's New Developments, A Delay for Apple, and a Hot Week for Netflix Sep 03, 2021

Show notes

David Faber, Morgan Brennan and Mike Santoli led off the program with the top story of the morning: A big miss in the government's August jobs report, reflecting worries about the Delta variant outbreak. The report shows the economy created 235,000 non-farm jobs last month. Wall Street expected a gain of 720,000. The unemployment rate fell to 5.2-percent -- in line with forecasts -- while wage growth doubled economists' estimates on a month-to-month basis. Grant Thornton Chief Economist Diane Swonk and J.P. Morgan Asset Management Chief Global Strategist David Kelly joined the anchors for a roundtable discussion on what the jobs report means for stocks, the Fed and the recovery. David, Morgan and Mike stayed on top of stocks related to the China crackdown on tech. Shares of Didi rose after a published report said Beijing city is considering taking a stake in the ride-hailing company -- and possibly bringing it under state control. In news involving a well-follower railroad takeover battle, David reported the board of Kansas City Southern is expected to meet to deem Canadian Pacific's bid likely to lead to a superior proposal. Also in focus: Apple delays its plan to scan iPhones for child exploitation, what's driving this week’s Netflix rally, earnings winners from Broadcom to Docusign, and a profile of the state with the worst infrastructure in the U.S. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Market Records Keep on Coming, Remnants of Ida Pummel Northeast, Apple and Alphabet's All-Time Highs, Ford Sales Slump In August, China Crackdown Update, and a $10.5B Deal Is Confirmed. Sep 02, 2021

Show notes

David Faber, Leslie Picker and Mike Santoli explored the road ahead for stocks as the S&P 500 hits a fresh record high. A Wall Street analyst joined them to discuss Apple and Alphabet hitting all-time highs and how you should put your money to work in big tech. The anchors also discussed the remnants of Hurricane Ida, which battered the Northeast U.S. and resulted in massive flooding, record rainfall, tornados and deaths. Leslie showed video and a photo of her morning commute, which highlighted flooding and damage. Autos in the spotlight: Ford vehicle sales tumbled more than 33-percent in August. The anchors and Phil LeBeau discussed everything from Ford cutting back F-150 production in wake of the chip shortage -- to tech investor Cathie Wood tweeting that "Auto buyers are abandoning gas powered vehicles in favor of electric." Also in focus: Shares of Chewy fell sharply after the pet products retailer posted a quarterly miss, Didi and the China crackdown on tech - Beijing ordering eleven ride-hailing platforms to stop "unfair competition tactics", Baxter International confirming it is acquiring medical technology rival Hill-Rom in an all-cash deal valued at $10.5-billion, Hormel falls after downgrading its outlook, Why food company valuations are compressed, and the bankruptcy plan for OxyContin maker Purdue Pharma was approved by a federal judge. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

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