Squawk on the Street

Carl Quintanilla, David Faber and Mike Santoli led off the show with a preview of Fed Chair Jerome Powell's speech to the Jackson Hole virtual symposium and what it could mean for markets, with Wall Street looking for clues about Fed policy when it comes to inflation and tapering as the Delta variant outbreak impacts the economy. Steve Liesman interviewed Cleveland Fed President Loretta Mester about her perspective on tapering, inflation and supply constraints, plus the role COVID vaccinations are playing in the recovery. The anchors also reacted to the big movers of the morning: Peloton falls after reporting a wider-than-expected quarterly loss and stating in an SEC filing that it has been subpoenaed by the government for documents on injuries related to its products. A different story for Gap -- shares higher on better-than-expected quarterly results and raised guidance, power by strong demand for its Old Navy and Athleta brands. Also in focus: Apple says it has resolved a class-action lawsuit from U.S. developers over its App Store policies, Dell Technologies and HP fall despite earnings beats, and what's driving the rally in energy stocks. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The morning after fresh record closing highs for stocks, Carl Quintanilla, Jim Cramer and David Faber led off the show with a look at a pair of tech earnings movers: Shares of Salesforce and Snowflake each getting a lift from their respective quarterly results. The anchors reacted to what the CEOs of both companies told CNBC about their numbers, and explored what's next for stay-at-home players such as Zoom in wake of companies pushing back their return to office plans due to the Delta variant outbreak. Retail earnings also on the front burner: Williams-Sonoma shares surge on upbeat quarterly results and guidance -- plus a 20-percent dividend hike, while Dollar General and Dollar Tree saw their shares slump as both retailers issued guidance below street estimates -- this in wake of supply chain issues. Ahead of Fed Chair Powell's Friday speech to the Jackson Hole virtual Fed summit, the anchors reacted to comments St. Louis Fed President James Bullard made to CNBC about how soon policymakers should taper to combat inflation. Also in focus: Banks in the green including JPMorgan Chase trading at a two-month high, The debate over whether government benefits are a major disincentive for people to return to work - and where "gig stocks" fit into the picture, and "SPAC on the Street" including Forbes’ plans to go public, plus another day in which a SPAC is doubling after the opening bell. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discussed the road ahead for the market on another record-setting day for the Nasdaq. Johnson & Johnson says its COVID vaccine booster shot generated a positive immune response in early trials. The anchors explored what this means for the reopening trade as more companies institute vaccine mandates. Carl, Jim and David followed up on the "meme stock madness" after GameStop and AMC Entertainment each posted gains of more than 20-percent in Tuesday's session. Retail stocks also in the spotlight: Nordstrom shares tumble despite beating analyst expectations with its quarterly results, while Dick's Sporting Goods sees its stock soar in reaction to an earnings beat and dividend hike. The anchors took a closer look at the chip sector: Everything from Nvidia announcing its computer platform will be used in an U.S. Department of Energy supercomputer (and where Intel fits into the story) - to the state of the chip shortage and its impact on the auto industry. Also in focus: What to expect from the White House cybersecurity summit including the big tech CEOs, plus a "Faber Report" on SPACs -- and why one SPAC soared more than 170-percent right after the opening bell. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber explored the reasons behind a big rally in shares of China-based companies. One of the catalysts: Cathie Wood's Ark Invest buying almost 165,000 shares of JD.com. The reopening trade very much in focus one day after the FDA fully approved Pfizer's COVID-19 vaccine. Airline and cruise stocks extending Monday's gains. The anchors discussed everything from the push for vaccine mandates to why the White House isn't doing more to promote use of Regeneron's monoclonal antibody treatment for COVID. Medtronic CEO Geoffrey Martha joined the program to discuss his company's outlook in wake of the pandemic, as well as quarterly results showing stronger demand for medical devices. The anchors reacted to reports the FAA is set to review how Boeing employees handle safety matters on the agency’s behalf after some company engineers said they face undue pressure. Carl, Jim and David also took a closer look at Apple on Tim Cook's tenth anniversary as CEO of the tech giant: The stock up 1000-percent since Cook succeeded the legendary Steve Jobs. Also in focus: A fresh record high for the Nasdaq, Best Buy jumps on earnings, Palo Alto Networks soars on quarterly results, Airbnb CEO Brian Chesky tweets that the company "will begin housing 20,000 Afghan refugees globally for free," and an update on the lawsuit against a SPAC backed by billionaire investor Bill Ackman. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discussed what's ahead for the markets this week in light of the big news of the morning: The FDA officially granting full approval to the Pfizer/BioNTech COVID-19 vaccine. The anchors discussed what this development could mean for the reopening trade, vaccine mandates and getting workers back into the office. Carl, Jim and David also reacted to former FDA Commissioner Dr. Scott Gottlieb's comments to CNBC about businesses mandating vaccine shots for workers. The Fed also in the spotlight ahead of Friday's Jackson Hole symposium, which is going virtual due to the Delta variant outbreak. The anchors explored whether Fed Chair Jerome Powell should hold off on his tapering strategy until we get more answers about how long Delta will impact the recovery. Also in focus: Bitcoin jumps back above $50,000 for the first time since May, a number of Wall Street firms initiating coverage of Robinhood nearly a month after its public debut, shares of Uber, Lyft and DoorDash take a hit after a California judge ruled the state's "gig worker" law to be unconstitutional, and Sir Richard Branson's Virgin Orbit satellite launch service planning to go public by combining with SPAC "NextGen Acquisition Corp. II" in a $3.2-billion deal. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Morgan Brennan started the show with a look at markets, with the Dow on pace for its worst week since June. The anchors also brought up big businesses dealing with COVID concerns, as Apple said that its staff won’t be returning to the office until January. CNBC’s auto & airline reporter Phil LeBeau also joined with highlights from Tesla’s A.I. event yesterday, where the company announced it is working on a humanoid robot with a prototype supposedly coming ‘sometime next year.’ Also in focus: Foot Locker wrapped up a big week of retail earnings, with the stock soaring on this morning’s results, and former Cypress Semi CEO T.J. Rodgers talked the ongoing chip shortage, saying “this is going to be over by the end of this year – for most stuff we buy.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer began with a look at the market action, with stocks coming off their worst day in a month. The anchors also hit some of the big earnings movers, including Robinhood. Shares were down after the company reported its first quarterly results since going public. Robinhood did double its revenue last quarter, but the app also warned of a slowdown in trading activity. Another big name under pressure was Cisco, with CEO Chuck Robbins joining the anchors for an exclusive interview. Later that hour, Phil LeBeau reported some breaking news as Toyota said it expects to see a drop in production due to the ongoing chip shortage, set to cut global production by around 40% in September. Shares of the automaker slid sharply on the news. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer began with a breakdown of the latest retail earnings as Target, Lowe’s and TJX Companies all reported before the market open. Although Target and Lowe’s both beat analyst expectations the stocks moved in opposite directions, with Target shares in the red. The anchors also discussed Minneapolis Fed President Neel Kashkari slamming the crypto market, saying “Cryptocurrency is 95% fraud, hype, noise and confusion.” For Cramer’s ‘Mad Dash’ he highlighted the growth in Nucor with that stock up more than 150% over the last 12 months. Also in focus: Big earnings to watch after the bell with Cisco, Nvidia & Robinhood set to report. This will be the first quarterly results for Robinhood since going public. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer began with a closer look at yesterday’s record close with the S&P 500 doubling from its pandemic bottom, marking the fastest bull market rally since WWII. The anchors then shifted to a pair of big retailers reporting results. Home Depot saw shares slide at the open despite posting a beat on both the top and bottom lines. Contrastingly, Walmart was among the biggest gainers on the Dow with the company receiving a boost from strong grocery sales and back-to-school spending. The anchors also discussed Michael Burry of ‘The Big Short’ betting big against Cathie Wood and her flagship ARK Innovation exchange-traded fund. Also in the mix: Jim Cramer highlighted Airbnb for his “Stop Trading” segment, saying “I like Airbnb more than any hotel during this period.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla and Jim Cramer began with a closer look at the Fed, as the group’s open market committee looks to be coalescing around a plan to announce it will taper its asset purchases in September and begin reducing them a month or so after. Following the market discussion, CNBC Correspondent Dan Murphy joined for a live report on the ongoing situation in Afghanistan, including a look at the chaotic scenes at the Kabul airport. The anchors also discussed Tesla shares sliding after the National Highway Traffic Safety Administration opened a formal investigation into the company’s autopilot system. CNBC’s auto and airline industry reporter Phil LeBeau broke down the latest details. Also in focus: Bitcoin is back to its highest level since May, Intel’s Pat Gelsinger pushes for billions in government subsidies to build more chip plants, and T-Mobile investigates claims of a data breach that involves the personal data of over 100 million users. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.