9am Hour: Tech Pain, Hassett on Jobs Report, SpaceX IPO: What Musk Told Dimon 6/5/26

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 5 June 2026

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanill, Jim Cramer and David Faber led off the show with weakness in the tech sector, which is threatening the S&P 500's bid for a ten-week win streak. National Economic Council Director Kevin Hassett joined the program with White House reaction to the stronger-than-expected May jobs report. Hear the exchange between Cramer and Hassett about Americans who are not thriving in this economy. The anchors discussed SpaceX one week away from going public. They reacted to Elon Musk's comments to JPMorgan Chase CEO Jamie Dimon at the bank's SpaceX event, including why now is the time for an IPO. Also in focus: The S&P 500 denies SpaceX fast entry, Lululemon slides, Apple's WWDC and Siri, bitcoin's ugly week. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here.
0:01.3	You're listening to the opening bell of CNBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:13.0	Good Friday morning.
0:14.1	Welcome to Squawk on the Street.
0:15.1	I'm Carl Kintanayor, Jim Kramer, David Faber, Post 9 in the New York Stock Exchange.
0:19.0	Another very solid jobs number for May, 172,000.
0:23.4	It's about double expectations on employment rate steady at 4-3. Futures are mixed, though,
0:28.2	on continued weakness in semis. And now with the jobs data, markets pricing in a full
0:33.0	quarter point hike by the end of the year. Oil's pretty steady as the Iran conflict enters its
0:38.7	100th day on Sunday. Our roadmap begins with that stronger than expected jobs print.
0:44.0	NEC director Hassel will join us in a few moments with the White House reaction.
0:48.2	Well, Ceylon Musk joins Jamie Diamond at JPMorgan's SpaceX IPO extravaganza.
0:53.6	Oh yeah. Oh, really just an event.
0:55.1	We're just one week away, of course, from the massive market debut of SpaceX.
1:00.6	And Senator Elizabeth Warren inviting Nvidia's CEO Jensen Wong to testify before Senate
1:05.2	banking about the chipmaker's China business and U.S. export controls.
1:12.9	Let's begin with the market, this pullback in tech, putting the S&P's bid for a 10-week win streak in Jeopardy, Jim. I don't know if you want
1:18.1	to do continued weakness in semis or the jobs dated today. Korea had so bad no deal with their numbers
1:23.3	look bad how much they're down. That does link as a high band with memory, which then limits to micro, and micron then links
1:29.5	to the other semis.
1:30.4	I would say you buy these semis.
	...

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