Squawk on the Street

David Faber, Leslie Picker and Mike Santoli kicked off the show with look at the markets as the Dow aims to post a fourth straight weekly gain. They focused on what you should make of the "stealth correction", featuring some of the areas in the underlying market that have experienced "pain" this week, reflected in groups such as oil services (OIH) and biotech (XBI) as well as the Russell 2000. Banks and yields also in focus with earnings and Fed news dominating the week. The anchors reacted to what Treasury Secretary Janet Yellen told CNBC about expecting "several more months of rapid inflation" before it declines "back toward normal levels" -- plus "Bond King" Jeffrey Gundlach saying stocks still remain cheap compared to bonds. On the M&A front, the anchors discussed that Intel is reportedly in talks to acquire chipmaker GlobalFoundries for about $30-billion, which would be Intel's largest acquisition ever. Cruise ships also in the spotlight: Canada announcing it will allow cruises to resume in November if certain health guidelines are met. The anchors engaged in a roundtable discussion with analysts who cover the cruise lines, whose shares are among the worst performers on the S&P 500 this month. Also in focus: Los Angeles County to resume indoor mask mandates as the COVID-19 Delta Variant continues to spread, Moderna shares surging on news it will be added to the S&P 500, Didi slumps again on new developments surrounding a Chinese cybersecurity probe, June retail sales come in better than expected, investors flocking toward big tech, and Apple employees reportedly saying the company is cracking down on remote work. 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 took a closer look at the markets ahead of Fed Chair Jerome Powell's second day of testimony to Capitol Hill lawmakers -- this time before the Senate Banking Committee. The anchors explored the impact of the COVID-19 Delta Variant on stocks as vaccinations slow down. They also discussed better-than-expected earnings from Morgan Stanley, the last major bank to report earnings this week. ARK Invest's Cathie Wood also in the spotlight: Carl, David and Jim reacted to what she told CNBC about her growth strategy and that she thinks we are in a "risk-off period." On the IPO front: "F45 Training" -- a fitness chain backed by actor Mark Wahlberg -- at the NYSE for its Wall Street debut. Wahlberg and F45 Founder and CEO Adam Gilchrist explained to the anchors why the company's going public now. Wahlberg also weighed in on the streaming landscape as movie theaters try to rebound from the pandemic. Also in focus: The chips trade including Taiwan Semiconductor, General Motors telling some owners of previously recalled Bolt EVs to park outside after Bolts that had been repaired caught fire, "Meme Stock Madness" as AMC Entertainment tries to reverse its recent stock slump, and Blackstone enters a deal to manage AIG's insurance and housing assets. 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 took a deep dive into the latest batch of bank earnings: Bank of America beat on the bottom line but missed on revenues, while Citigroup and Wells Fargo each posted better-than-expected quarterly results. Asset management giant BlackRock also beat the street. The anchors reacted to what BlackRock CEO Larry Fink told CNBC about his expectations for the market amid inflation fears and worries about the recent spread of COVID-19's Delta Variant. They also discussed Fed Chair Powell's prepared remarks ahead of his Capitol Hill testimony -- that say inflation will likely remain high in the coming months. Chinese stock volatility in focus: Ark Invest's Cathie Wood is warning investors that major Chinese companies are losing value amid Beijing's anti-monopoly and data security crackdown. A good morning for airline stocks: American said it expects to report positive cash flow for the second quarter, while Delta posted better-than-expected quarterly results and what it calls a "solid" pre-tax profit for the month of June. The anchors reacted to Delta CEO Ed Bastian telling CNBC he expects "solid profitability" in the current quarter and beyond as the consumer drives the carrier’s recovery. Apple hits a new record high: The company reportedly asking suppliers to build as many as 90 million next-generation iPhones. Also in focus: A new record high for the S&P 500, how to play FAANG and Microsoft as new FTC Chair Lina Khan looks to rein in big tech, and on the SPAC front -- the SEC charges Momentus and Stable Road for "misleading disclosures" ahead of their proposed business combination. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

After a record-setting week for stocks, Carl Quintanilla, Jim Cramer and David Faber led off the show with a closer look at better-than-expected quarterly results from JPMorgan Chase and Goldman Sachs, marking the beginning of earnings season. Highlights include comparing both companies' investment banking results, Goldman's return on equity hitting double-digits and strength in asset management, and JPM CEO Jamie Dimon’s comments on reserve releases and the strength of the American consumer. The anchors also discussed June CPI coming in hotter than expected, up 0.9% for the month and surging 5.4% from a year ago -- the largest jump since 2008 -- and where earnings from PepsiCo and Conagra fit into the inflation trade. Boeing under pressure after announcing plans to cut back 787 Dreamliner production due to a structural issue. Cramer asks what it's going to take for Boeing CEO David Calhoun to stop the company's "endless stream of bad news." Johnson & Johnson also in the spotlight after the FDA announced it is adding a warning to J&J's COVID-19 vaccine to warn of a very small incidence of the rare neurological disorder known as Guillain-Barre syndrome. The anchors reacted to Dr. Anthony Fauci's comments to CNBC in which he defends the vaccines that have received emergency use authorization, calling them "highly effective." Also in focus: The best ways to play the semiconductor sector now, retail and mall stocks amid rising inflation, and Cramer on how investors in AMC Entertainment should manage the stock's recent decline. The anchors also reacted to comments Goldman Sachs CEO David Solomon made on his company's earnings call: He expressed concerns about the prospect of a pandemic resurgence. 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 began with a closer look at China’s continued crackdown, with a new Wall Street Journal article reporting that TikTok owner ByteDance shelved its IPO plans after receiving a warning from government officials. The social-media giant was last valued at $180 billion. Plus, Sir Richard Branson won the billionaire space race, following Virgin Galactic’s successful flight over the weekend. Our Morgan Brennan was live from New Mexico and caught up with the billionaire founder. And, the Nasdaq and S&P notched new record highs ahead of a busy week of earnings. JPMorgan and Goldman Sachs both set to report tomorrow morning before 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.

The opening hour of CNBC’s "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast each weekday from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

David Faber and Jim Cramer begin with the market sell-off, with the Nasdaq on pace for its worst week since mid-May. Cramer outlines his 7 market themes to watch for in the second half of the year. The anchors also discuss attorneys general from 36 states and the District of Columbia bringing a new antitrust suit against Google over its mobile app store. Cramer believes this could be a threat to the stock, but not the business. And, one of the nation’s largest banks, Citigroup, says it expects most U.S. and U.K. workers to return to office by September, but is that too optimistic? Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The opening hour of CNBC’s "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast each weekday from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

David Faber & Jim Cramer breakdown China’s moves against Didi as the stock gets hammered. A new report out of the Journal saying Chinese regulators suggested Didi delay it’s U.S. IPO. Plus, inside OPEC+, David & Jim discuss the massive move in oil prices as OPEC+ cancels its meeting. Retail investors watching AMC after its CEO Adam Aron announced it will not seek approval for its proposed 25 million share increase. Plus, it’s the largest ransomware attack on record, as hackers demand $70 million. David looks towards JPMorgan’s return to work and the future of Wall Street. Nextdoor announcing it’s going public through a merger with Khosla Ventures. The CEO of Nextdoor, Sarah Friar, and Khosla Ventures, Vinod Khosla, join Jim and David to discuss the deal & future of the company. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

David Faber, Morgan Brennan and Mike Santoli led off the show with the top story of the morning: The June jobs report showing non-farm payrolls up a better-than-expected 850,000 with an unemployment rate of 5.9-percent. The news helping to lift both the S&P 500 and Nasdaq to fresh record intraday highs. The anchors explored the markets' reaction in a roundtable discussion with the Chief Global Strategist at J.P. Morgan Asset Management and the Chief Investment Officer at Citi Global Wealth. Shares of Virgin Galactic soared after the company announced founder Sir Richard Branson plans to be aboard a Virgin space flight currently scheduled for July 11. The flight would be nine days before a scheduled Blue Origin flight would take that company's founder Jeff Bezos into space. Virgin Galactic CEO Michael Colglazier appeared on the program to discuss Branson and the race to space. Speaking of Jeff Bezos, he is stepping down as Amazon CEO and will be succeeded by AWS chief Andy Jassy July 5. Deirdre Bosa looked at what to expect from "The Jassy Era" at Amazon. The anchors also discussed a rough day for Chinese ride-hailing giant Didi: The stock tumbling after the China Cyberspace Administration said it will conduct a cybersecurity investigation on the ride-hailing service – news of the probe coming two days after Didi's Wall Street debut. Also on the IPO radar: Stock-trading app Robinhood announcing plans to go public. Will it become a meme stock? Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.