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Squawk on the Street

Big Market Week Ahead, Paramount-Skydance Merger Deal, Boeing to Plead Guilty 7/8/24

Squawk on the Street

CNBC

News, Investing, Business

4.1567 Ratings

🗓️ 8 July 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber led off the show with big tech and AI as a catalyst for S&P 500 and Nasdaq record highs, after five of the "Magnificent 7" stocks hit new all-time highs on Friday. The anchors also explored what investors can expect from a big market week ahead. It includes Fed Chair Powell on Capitol Hill, key inflation data and major banks kicking off earnings season. Also in focus: Paramount and Skydance agree to a merger deal, Boeing agrees to plead guilty to a criminal charge, chips rally, Tesla's big rebound cools off, Eli Lilly's $3.2 billion acquisition. Squawk on the Street Disclaimer

Transcript

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0:00.0

Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kintania, on the opening bell hour of CNBC Squawk on the Street. Good Monday morning, welcome to Squawk on the Street. The band is back. Carl Kintania, Jim Kramer, David Faber, together again at post nine of the New York Stock Exchange. Future is pretty steady. S&P coming off its best week since April, and that record closed Friday. Big week,

0:21.6

Powell on the Hill, CPI, and the start of earnings season. A roadmap begins with the market's record

0:26.6

run, helped by five of the Mag 7 hitting all-time highs on Friday. Also ahead, Paramount has reached

0:32.5

a deal to merge with Skydance and everything else that goes along with that. And Boeing agrees to plead guilty

0:38.3

to a criminal charge stemming from those deadly crashes involving its 737 Max Jets.

0:44.9

Let's begin with this busy week for the street, S&P NASDAQ at record highs, but Jim, it's nice

0:49.4

to have all three of us here. First time in a few weeks. And it's fine. I did a lot of work for the investing club on Friday.

0:57.3

And Friday was one of these days.

0:59.9

I have to tell you, I can't recall, maybe in the 90s, maybe even in the 80s, where you

1:05.0

have these stocks, like Meadow was up $29.

1:08.0

You know, just rallying the clothes, Amazon, $2.40 cents, Google up $4.78. Microsoft up $6. You know, rallying the clothes, Amazon, $2.40,000.

1:10.9

Google up $4.78.

1:12.7

Microsoft up $6.79.

1:15.2

Apple up $4.79.

1:17.0

I mean, these are very, very big moves.

1:21.8

And it tells me, David, welcome back to you.

1:24.8

Where's the sellers?

1:26.1

Why are the sellers not lower? Why are the sellers holding out for 20 and getting it?

1:30.8

Holding for 25 and getting it. What is going on?

1:34.0

I mean, I'll come right back at you and ask you, Jim, because you may be in a better position to tell me.

1:38.5

It is somewhat, I mean, people will start to make that connection.

1:42.9

Have to.

...

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