Squawk on the Street

Latest Episodes:

Morning After a Big Stock Market Rebound: Chair Powell Capitol Hill Testimony Preview, GameStop Surges, Bitcoin Slides Below $30K, EU Antitrust Probe Targets Google, Update on the White House's July 4 Vaccination Goal, and the Latest Company to Move Its HQ out of NYC Jun 22, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber explored what's in store for the markets after Monday's big rally erased losses from Friday's sell-off. What should investors make of the rebound? Especially as Wall Street braces for Fed Chair Powell's Tuesday testimony on Capitol Hill before a House panel. The anchors also took a closer look at GameStop -- shares surging after it had announced completion of its previously announced sale of 5 million common shares, raising more than $1.1-billion. Breaking news in the mix: The Biden Administration to acknowledge it is not on track to reach its goal of at least 70% of U.S. adults having at least one shot of the COVID vaccine by July 4. Carl, Jim and David also discussed the EU opening a formal antitrust probe of Alphabet unit Google’s digital ad practices -- and what regulators going after big tech could mean for the FAANG stocks. More woes for crypto: Bitcoin slumps to a January low below $30,000, as China orders its banks to crack down even harder on crypto trading. Also in focus: U.S.-China relations and their effect on markets, Reddit-fueled stocks on the move, why Cramer's charitable trust closed out of Disney, Blackstone's $6-billion real estate/rental deal, and Philip Morris International's decision to move its corporate headquarters from New York City to Connecticut. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Crypto Crumbles as China's Crackdown Intensifies, Markets Rebounding after Friday's Sell-off, The SEC's Push for Climate Risk Disclosure, AMC Keeps Riding the Meme Stocks Wave, and Rivals take on Amazon As "Prime Day" Gets Underway Jun 21, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber kicked off the show with a look at cryptocurrencies under pressure amid an expansion of China's crackdown on Bitcoin mining -- the newest steps resulting in a shutdown of about 90-percent of China's Bitcoin mining capacity. That news also weighing on shares of MicroStrategy and Coinbase. The anchors reacted to what the CEO of MicroStrategy told CNBC about the company's Bitcoin investing strategy. They also discussed the stock market's rebound after Friday's sell-off, which was sparked by comments St. Louis Fed President James Bullard made on CNBC about inflation and the road ahead for rate hikes. On the regulatory front, the anchors engaged in a wide-ranging discussion about a report in The Wall Street Journal, which says the SEC is preparing to require public companies to disclose more information about how they respond to threats linked to climate change -- and that businesses are gearing up for a fight. Also in focus: Amazon's two-day "Prime Day" gets underway and its rivals roll out their own deals for consumers, the "meme stocks madness" with shares of AMC more than doubling since the beginning of the month, big media companies such as Disney and the challenges they face when it comes to streaming and content costs, L Brands shares continue to rally -- the company files registration on a split of Victoria's Secret and Bath and Body Works, Pershing Square Tontine -- a SPAC controlled by billionaire investor Bill Ackman -- finalized a deal to buy a 10% stake in Universal Music Group from Vivendi valued at about $40-billion, and American Airlines will cut planned flights for the first half of July by about 950 flights, or 1%, due to staffing shortages and other issues as it deals with the sharp rebound in travel demand. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fed Effect: Market Slumps After Bullard's Comments to CNBC -- What Should Investors Do Now? Plus: Meme Stocks and How Retail Investors Continue to Upend the Financial Markets, and Capitalizing on Tech -- from FAANG to the Chips Jun 18, 2021

Show notes

Jim Cramer and Scott Wapner led off with the big story of the morning that sparked a market sell-off: St. Louis Federal Reserve President James Bullard telling CNBC there is "more inflation than we were expecting and I think it’s natural that we’ve tilted a little bit more hawkish here to contain inflationary pressures." Bullard also said economic growth has exceeded projections and that he sees an initial rate increase in late 2022. Jim and Scott discussed the market reaction to Bullard's remarks and what, if anything, investors should do now. They also explored this week's pullback in commodities prices -- especially lumber, copper, gold and corn -- and whether Fed Chair Powell's assessment of commodities inflation is on target. When the conversation turned to meme stocks including AMC and GameStop, the anchors weighed in on a Wall Street Journal article describing how amateur investors are upending the financial markets. Also in focus: How to play big tech, FAANG and the chip stocks in this environment, Adobe rising on better-than-expected results and guidance, and why Apple is the Dow's best performer this week. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Morning After the Fed Decision -- Billionaire Investor David Tepper's Message on the Fed and the Road Ahead for Stocks, Mark Cuban on Crypto Crash: "I Got Hit", and An Exclusive With the CEO of Lockheed Martin Jun 17, 2021

Show notes

One day after the Fed raised its expectations for inflation and indicated rate hikes could come as soon as 2023, Jim Cramer and Scott Wapner weighed in on reaction to that news, especially from billionaire investor and Appaloosa Management chief David Tepper. Wapner says Tepper told him the "Fed did a good job" and that its approach shows policymakers are not asleep at the wheel. Tepper also told Scott that he thinks "the stock market is still fine for right now." The anchors also discussed Mark Cuban's claim in a tweet that he took a "hit" from a cryptocurrency crash involving the Iron Titanium token also known as TITAN, which plummeted from over $60 Wednesday to a fraction above zero early Thursday morning. Lockheed Martin CEO Jim Taiclet joined the program exclusively -- marking one year on the job as head of the world's largest defense contractor. He discussed what the geopolitics landscape means for the aerospace/defense industry and how 5G is playing a big role in his company's growth strategy. Also in focus: What Intel CEO Pat Gelsinger said during the CNBC Evolve Global Summit about chips and supply chains, Kroger's earnings and what the CEO of supermarket rival Albertsons told CNBC about the state of the consumer, and Bob Chapek's stewardship as CEO of Disney -- as J.P. Morgan reiterates an "Overweight" rating on the stock. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Investors Brace For The Fed's Big Announcement, Exclusive With GM CEO Mary Barra, IMF Chief and the Novartis CEO at CNBC’s Evolve Global Summit, Cathie Wood Bets on DraftKings, and the New FTC Chair vs. Big Tech Jun 16, 2021

Show notes

Jim Cramer and Scott Wapner led off the show by previewing the big event of the day for investors: After wrapping up a two-day meeting, The Fed set to issue its policy statement -- the watch is on to see what Chair Powell and fellow policymakers will say about their approach to inflation. General Motors announcing the automaker is boosting its global spending on electric and autonomous vehicles by 30-percent, totaling $35-billion through 2025. GM Chairman and CEO Mary Barra joined the program exclusively to talk about the company's E-V strategy and updated guidance. The anchors reacted to comments from heavy hitters at the CNBC Evolve Global Summit: The head of the IMF shared her take on supply chains and the global economy -- and the CEO of Novartis spoke on health care and helping to produce COVID vaccines in a post-pandemic world. Also in focus: Oracle shares slumping despite better-than-expected quarterly results, ARK Invest's Cathie Wood buys $42-million in DraftKings after the stock took a hit Tuesday on a short-seller report, and big tech critic Lina Khan named Federal Trade Commission Chair -- the anchors explored how far she might go to push for a breakup of companies such as Facebook and Amazon, and what that could mean for FAANG stocks. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Inflation Heats Up and Retail Sales Disappoint As the Fed Kicks Off a Pivotal Meeting, Is The Meme Stocks Rally "A Recipe For Disaster"?, a Bet Against DraftKings Sends the Stock Tumbling, Plus a New Record High for the S&P 500 Jun 15, 2021

Show notes

Jim Cramer and Scott Wapner led off the show with a look at key inflation and retail data on day one of what some are saying is the most important Fed meeting of Chair Jerome Powell's tenure. The Producer Price index for May coming in hotter than expected and retail sales showing a bigger than expected decline. The anchors looked at what it all means for the markets and Wednesday's much-anticipated Fed statement -- how will policymakers tackle inflation? Jim and Scott also reacted to JPMorgan Chase CEO Jaime Dimon saying the bank is hoarding cash because there's a "very good chance" inflation is here to stay -- and American Express CEO Steve Squeri telling CNBC why he's bullish on the American consumer when it comes to spending and the recovery. The meme stocks also in the spotlight: AMC Entertainment extending its rally after soaring 33-percent over the last two session, with Petco jumping into fray after surging 18-percent on Monday. The anchors engaged in a wide-ranging discussion about comments Morgan Stanley CEO James Gorman made on CNBC -- he said he believes this year's big rally in meme stocks could be "a recipe for disaster." Also in focus: A new record high for the S&P 500, DraftKings shares tumble after Hindenburg Research announces it a taken a short position, The U.S. and EU announced a resolution of the 17-year dispute over aircraft subsidies involving Boeing and European rival Airbus, and Jamie Dimon speaks out about Jack Dorsey's Square. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Paul Tudor Jones' Message for the Fed and Take on Inflation and Crypto, The "Musk Tweet Effect" Moves Bitcoin Again, Shakeup At Lordstown Motors Sends the Stock Tumbling, and what's next for FAANG stocks: Is the Tech Trade Coming Back? Jun 14, 2021

Show notes

Jim Cramer and Scott Wapner kicked off the show by reacting to various comments legendary trader Paul Tudor Jones made to CNBC. Among them: This week’s Fed meeting is the most important of Jay Powell’s tenure, it's dangerous to say inflation is transitory, and if the Fed doesn't make an immediate "course correction" he's going to bet heavily on the inflation trade -- commodities, gold and crypto. Speaking of crypto, Bitcoin getting a lift after Elon Musk tweeted on Sunday that Tesla may resume accepting the cryptocurrency if 50 percent or more of so-called "bitcoin miners" use clean energy. The anchors also discussed the shakeup at Lordstown Motors: Shares of the electric truck maker tumbling after it announced both its CEO and CFO have resigned. Also in focus – a deep dive into the inflation trade: Chipotle gets a Wall Street upgrade after announcing price and wage hikes, autos and the chip shortage, and why FAANG names and other tech stocks may be ripe for buying. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

What Inflation? The S&P's Record Run and Wild Week for the "Meme Stocks", COVID and Cruise Blues for Royal Caribbean, What's Behind SPACs' Upward Momentum, A Chinese Rival to Uber Revs Up IPO Plans, And Biogen Extends Red-Hot Rally on Alzheimer's Drug Approval Jun 11, 2021

Show notes

The morning after the S&P 500 posted a record closing high and shrugged off inflation fears, Carl Quintanilla, Jim Cramer and David Faber looked at what's next for the historic run-up in stocks and the "meme stock madness" -- as well as why investors have refused to "get out of growth" names such as Caterpillar and Amazon despite the jump in CPI and the fall in bond yields. On the flip side, shares of Royal Caribbean and other cruise stocks took a hit after the company's Celebrity Cruises division announced that two passengers tested positive for COVID-19 on its "Celebrity Millennium" ship. After a double-digit percentage gain for the CNBC SPAC Post-Deal Index over the past month, David took an in-depth look at what's sparking SPAC performance and upward momentum. On the cyberthreat front, McDonald's says a data breach in South Korea and Taiwan has exposed some customer and employee information. Speaking of Asia, Chinese ride-hailing giant "Didi Chuxing" has made its U.S. IPO filing public -- reports say it may raise about $10-billion and be valued at close to $100-billion. Also in focus: Biogen continues to rally on FDA approval of its Alzheimer's drug, why it's been such a strong week for shares of Amazon, a tough day for Snowflake's stock, a upbeat Wall Street call on Zoom Video, and why Cramer tweeted about billionaire surtaxes. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Retail Runaways, GameStop Revamp, United’s Possible Big Order Jun 10, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber dig through the massive movers of the morning. Including RH, after reporting adjusted quarterly profit and revenue that beat the street. The home furnishing retailer formerly known as Restoration Hardware also raising its full-year outlook. Plus, Signet Jewelers also skyrocketing after trouncing a $1.27 consensus estimate with adjusted quarterly earnings of $2.23 per share. The jewelry retailer’s revenue also beat estimates as same-store sales more than doubled from a year earlier, and Signet also raised its full year revenue forecast. Plus, Carl, Jim and David discuss the big revamp at GameStop. The company changing up its executive suite by hiring two former Amazon executives to top positions, with Matt Furlong named CEO and Mike Recupero tapped as Chief Financial Officer. Additionally, the company reported better than expected quarterly results, and said the SEC was seeking information on the recent trading frenzy in its stock. GameStop, also said it may sell 5 million additional shares from time to time. Plus, a report that United is in advanced talks to buy at least 100 Boeing 737 Max jets. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Meme Stocks Rollercoaster: Clover Health Continues to Surge While Wendy's Slumps, The U.S. Has a $250B Answer to China, The IRS Investigates Release of Wealthy Americans' Tax Information, Yields Fall As the S&P 500 Chases History, And EV Maker Lordstown Motors' "Substantial Doubt" Zaps the Stock Jun 09, 2021

Show notes

Carl Quintanilla, Jim Cramer and David Faber kicked off the show by highlighting another volatile day for the so-called "meme stocks": Chamath Palihapitiya's Clover Health surges to a new record high while Wendy falls after Stifel downgraded the stock to "Hold" from "Buy". The anchors explored what's next for both the new and old Reddit-fueled stocks. They also discussed the Senate's bipartisan passage of a $250-billion bill aimed at countering China's tech ambitions and boosting semiconductor production in the United States. Speaking of the government: The IRS says it is investigating the release of wealthy Americans' tax information in wake of ProPublica publishing details about the reported income and tax payments of multi-billionaires such as Jeff Bezos and Warren Buffett. Also in focus: Shares of Campbell Soup tumble on the company's weaker-than-expected quarterly results, Merck agrees to supply the U.S. government with its oral antiviral treatment for COVID, Why yields are falling as the S&P 500 is within striking distance of a record intraday high, and Lordstown Motors shares take a big hit after the electric truck maker said there was "substantial doubt" about its ability to continue as a going concern. The anchors reflected on what Lordstown's CEO told CNBC back in March about how "we never said we had orders". 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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