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Squawk on the Street

10AM Hour: Warsh's Next Steps, A Bet On The Buildout, Pantry Profits & Meta's Cloud Ambitions 07/01/26

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 1 July 2026

⏱️ 40 minutes

🧾️ Download transcript

Summary

On the heels of a headline filled economic panel at the ECB's monetary forum - Carl Quintanilla, David Faber, and Leslie Picker broke down key investor takeaways and what could come next for stocks with former Fed Governor Frederic Mishkin. Plus: more on Meta's move higher following potential moves on a new AI cloud business... And elsewhere in the hour: details on the numbers sending General Mills shares to their best day in years, why the options market thinks MSTR shares will rebound, and a read from the ground on the cost of the AI buildout with the CEO of Martin Marietta... fresh off a huge deal to buy limestone supplier LHoist. Squawk on the Street Disclaimer

Transcript

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0:00.0

That is Warsh with Maclam, Bailey, and the Guard talking to our Sarah Eisen in Central Portugal at the ECB Forum on monetary policy.

0:07.5

Some of the headlines from Warsh at least. No forward guidance, of course, that became a bit of the running joke.

0:12.3

But they are going to have, in his words, a good family fight when we meet in a few weeks.

0:16.5

It says we're in the first or second inning of this AI revolution.

0:20.5

Independence, we will be an

0:21.7

independent central bank, no change is there. Some news to come next week on those new task forces,

0:28.2

and then dots will be present, he said, for a short period of time. I'm Carl Kintaneda with Leslie

0:33.2

Picker, David Faber, here at Post-Nine of the New York Stock Exchange. Jim has stuck around for a few

0:37.7

minutes because you're working on some stuff. Yeah, this morning Bloomberg comes out with a very

0:41.8

important story saying that Meda may be interested in selling compute using its incredible

0:48.9

resources to make money. Okay, I have confirmed this story. They expect real revenue,

0:53.4

unmatched distribution,

0:54.4

and consumer actors, an actual profit for what they have. Actual profit. I wish the other guys

1:01.1

had actual profit. That's why their stocks are being killed. Now, Mata did not have, you know,

1:05.6

the stock's been not that great. But, and they're confirming this is just a larger part of

1:09.6

their, uh, of what they intended, but they have 3.5 billion people,

1:13.6

and they expect to be able to use their considerable have to make money.

1:18.6

I take it from, by the way, Walmart has no idea why the stock's down five.

1:21.9

You want to go by Walmart and find the stock's been a big downturn.

1:24.2

But I think this is major, and I think the fact that meta has been able to

1:28.0

stretch, they've got a course, a course of profitability. What are the other guys have?

1:33.2

Well, Amazon has AWS, which is very profitable. Microsoft has Azure, which is also growing

...

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