Squawk on the Street

Carl Quintanilla, Jim Cramer and David Faber took an in-depth look at what to expect from the markets in the second half, with the S&P 500 hitting a new record high after jumping more than 14% in the first half. Cramer says "don't get bored with the rally" and talks about where to find opportunity. The anchors also discussed the road ahead for the chip sector after Micron shares fell despite better-than-expected quarterly results and upbeat guidance. Big tech fires back: Amazon calls on the FTC to recuse its new chair Lina Khan from antitrust investigations involving the company, citing her past comments including calling for the breakup of Amazon. Carl, Jim and David also reacted to China's President Xi taking a hard line against foreign interference in a speech from Tiananmen Square marking the Chinese Communist Party's 100th anniversary. Xi said China "won't allow any foreign force to bully or oppress" the country -- and that "anyone who dares try to do that will have their heads bashed bloody against the great wall of steel forged by over 1.4 billion Chinese people." The CEO of spice maker McCormick joined the program to discuss his company's earnings and how it continues to benefit from cooking from home trends since the pandemic began. Also in focus: Hedge fund Elliott Management calls for changes at GlaxoSmithKline, and Landry's CEO Tilman Fertitta amends a SPAC 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, Jim Cramer and David Faber explored the road ahead for stocks on the final trading day of the month, quarter and first half of the year -- the S&P 500 on track for its best 1H since 2019. Cramer explains why he prefers semiconductor stocks such as Nvidia and AMD over the FAANG names. The anchors also took a deep dive into the energy stocks that are soaring so far this year. A busy day for IPOs also in focus: Wall Street debuts led by Didi -- the Chinese ride-hailing giant and rival to Uber and Lyft -- which priced its offering at $14 per share, raising $4.4-billion. Identity verification platform CLEAR Secure, cybersecurity firm SentinelOne and LegalZoom also making their public debuts. Also in focus: A report which says Apple won't back down from its hybrid work model despite employees asking to be fully remote. The Biden Administration said to be considering an executive order aimed at reining in the power of big business, ESG and the Exxon Mobil proxy fight, A strong morning for retailers such as Walmart and Bed Bath and Beyond, and in-space transportation company Momentus has its valuation slashed in a revised SPAC 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, Jim Cramer and David Faber led the show with a look at Facebook, which on Monday closed above $1-trillion in market value for the first time after a federal court dismissed FTC and state antitrust cases against the company. The anchors explored the challenges facing new FTC Chair Lina Khan as she looks to rein in big tech's dominance. They also discussed ARK Invest's Cathie Wood’s tech investment strategy and her plan to create a bitcoin ETF, plus Tesla shares falling after UBS cut its price target for the stock to $600 from $730. Big banks propelled the S&P 500 and Nasdaq to new record intraday highs after most of them raised their dividends just days after passing the Fed's stress tests. United Airlines making news after announcing its biggest order ever: 270 Boeing and Airbus jets. The anchors reacted to what United CEO Scott Kirby told CNBC about why such an order was necessary. Also in focus, Nvidia's $500-million market cap, stock-moving Wall Street calls on the likes of Biogen, FedEx, Textron and CNBC parent Comcast, Uber reportedly will let employees work half their hours from wherever they want as part of its revamped return-to-office strategy, and Cramer saying many investors and strategists who have been betting against the Biden presidency are experiencing "seller's remorse." 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 road ahead for stocks on a day in which the S&P 500 and Nasdaq each hit fresh record intraday highs. Cramer says "this is one of the more buoyant markets I've ever seen". He explains why this is the case and outlines his upside case for names such as FedEx, Darden Restaurants and Nike. The anchors also reacted to Goldman Sachs' note on inflation and supply chain disruptions. Boeing under pressure after the FAA informed the jet maker it is not likely to receive certification for its 777X long-range aircraft until mid-to-late 2023 at the earliest. The anchors also took a closer look at the "CRISPR rally": Shares of Intellia Therapeutics and other gene-editing firms soaring after the company and its partner Regeneron announced positive results in a phase 1 study of a gene-editing treatment for a genetic nerve disorder. Also on the biotech front: Capitol Hill lawmakers announced an investigation into the approval and pricing of Biogen's Alzheimer's drug. Also in focus: How Virgin Galactic shares are trading after soaring 39% on Friday, AMC Theatres announced its busiest weekend at the box office since the pandemic, Universal Pictures' "F9" topped the weekend box office with $70 million in North American ticket sales -- the biggest debut for any movie since the pandemic began (Universal is owned by CNBC parent Comcast), UBS to allow hybrid working arrangements for many of its employees, Nvidia reportedly receiving support for its planned $40 billion takeover of ARM from some of the UK chip maker’s major customers. Cramer explains why he sees Nvidia shares jumping to the $900 mark. 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 S&P 500 hitting a fresh record high: Stocks extending their rally on Thursday's news of a bipartisan infrastructure deal. Cramer highlighted his list of ten "Jailbreak Stocks" -- including Wells Fargo, Tesla and Caterpillar -- that he said benefited from the news out of the White House. On the earnings front: Nike soars after the Dow component posted a better-than-expected quarterly profit, with sales topping $12-billion for the first time. On the flip side, FedEx shares in the red despite record fiscal Q4 results driven by pandemic volume. The anchors reacted to what Starbucks CEO Kevin Johnson told CNBC about how his company is navigating supply chain issues and insisting there is no cup shortage at Starbucks. Also in focus: What's next for Microsoft one day after it closed with a $2-trillion market cap for the first time, banks passing the Fed's stress tests and how their stocks are reacting to that news, and a busy week for SPAC deals. 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 road ahead for stocks with the S&P 500 and Nasdaq hitting new intraday record highs. Media news also on the front burner: CNBC parent Comcast calls "pure speculation" a Wall Street Journal report which states the company is considering ideas including a potential tie-up with ViacomCBS or an acquisition of Roku. The anchors also discussed a big development for Eli Lilly: Shares surging after the company announced it has received and FDA breakthrough therapy designation for its Alzheimer's treatment. Southwest Airlines Chairman and outgoing CEO Gary Kelly joined the program to discuss stepping down from the top job in 2022, the future for the airline and post-pandemic travel, and Southwest's relationship with Boeing. Kelly will be taking on the role of Executive Chairman at Southwest. Also in focus: JPMorgan Chase requiring employees to report their COVID vaccination status to help the bank prepare for workers returning to the office, and BuzzFeed announcing a deal to go public via a SPAC merger. 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 kicked off the show with a closer look at big tech under fire: The House Judiciary Committee set for a markup of antitrust bills which include legislation aimed at breaking up tech giants. Apple among the companies firing back at Congress -- The New York Times reporting Tim Cook called House Speaker Nancy Pelosi and other lawmakers urging them to scrap the bills, saying they would crimp innovation and hurt consumers. The anchors delved into the push to break up big tech and what that could mean for investors and M&A. Cramer explains why he thinks the Biden Administration "is against stocks, it's against capital formation, it's against risk capital". Speaking of big tech, Microsoft becomes the second company besides Apple to reach $2-trillion in market value. The Fed also in the spotlight: The anchors reacted to what Fed Chair Powell said on Capitol Hill Tuesday -- that it's "very, very unlikely" the U.S. will see 1970s-style inflation. Big news in the airline industry: Southwest announcing Gary Kelly will step down as CEO in 2022. Warren Buffett says he's halfway toward donating about 99% of his net worth to philanthropy, delivering another $4.1-billion in Berkshire Hathaway stock -- but added he is resigning as a trustee of the Bill and Melinda Gates Foundation. The anchors reacted to what Buffett said about philanthropy and taxing the wealthy. Also in focus: Morgan Stanley tells employees who haven’t taken the COVID vaccine that they won't be allowed back in some New York offices effective July 12, SPACs and Cathie Wood's bets, and Bitcoin rebounds after tumbling below $30,000 on Tuesday. 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 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.

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.

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.