10AM Hour: The Street Initiates SpaceX, Trump in Turkey for NATO Summit, Samsung Sparks Chip Stock Sell-off 7/7/26

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 7 July 2026

⏱️ 43 minutes

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Summary

Wall Street gets fresh takes on SpaceX as many Wall Street firms initiate, including MoffettNathanson initiating coverage with a Neutral rating and a $131 price target. Analyst Craig Moffett Joins to explain. Plus, President Trump arrives in Turkey for the NATO summit as geopolitical tensions remain in focus. And chip stocks come under pressure after Samsung’s latest results raise fresh questions about demand across the semiconductor industry. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintanio with David Fabred, Leslie Picker, here at post-9 of the New York Stock Exchange. Sarah Eisenzoff today. President arrives at the NATO summit in Turkey this morning. We're going to talk with the Eurasia Group's Ian Bremmer about what's at stake. SpaceX under some pressure as it officially joins the NASDAQ 100. Long-time analyst Craig Moffitt just initiated and joins us first with his recommendation for investors.
0:23.3	And the White House holding a quantum innovation summit today. We're going to talk to the CEO of
0:28.0	inflection, which does count the government among its investors. Let's begin, though, with the NATO summit.
0:33.8	The president is in Turkey as the Iran war increases frictions between the U.S. and some of its allies.
0:38.7	Speaking of the Iran War, reports today indicated that Iran has reignited fire on commercial ships in the Strait of Hormuz.
0:45.6	Joining us this morning first on CNBC, the president of the Eurasia Group, Ian Bremers, with us.
0:50.7	Ian, welcome back. Good to see you again.
0:52.1	Good to see you.
0:53.1	I see the tape is already full of
0:55.1	headlines about the president talking Greenland. Is this summit going to be about fresh progress,
1:00.2	or is it the greatest hits? I think that we're looking back at G7 that Macron organized pretty
1:06.8	well a couple weeks ago in Avion, France. Not a lot of headlines, a little bit more
1:11.5	coordination. I think that's what we're going to see here in the NATO summit as well. Sure,
1:17.5	Trump's going to take a couple of shots at some of the specific European allies that he thinks
1:23.1	did not perform for him in terms of the Iran war.
1:28.0	But he said some very nice things to Erdogan, who's hosting there in Ankara.
1:33.8	He's buried the hatchet a little bit with Maloney already for Italy.
1:39.4	He's clearly looking forward to a new UK leader saying that this is why Starmer's out is because he was so weak
1:45.6	on Iran. Not the case, but nonetheless. Look, the Europeans are spending more. The Ukrainians
1:51.7	are actually doing a lot better. And Trump has shown that he's not as capable of disrupting
1:58.7	the global order as perhaps he wanted to be, either in the Middle
2:01.8	East or on Russia, Ukraine, or on China.
	...

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