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Squawk on the Street

Busy Week: Apple WWDC, Musk Pay Vote, Inflation and the Fed 6/10/24

Squawk on the Street

CNBC

Business, Investing, News

4.1567 Ratings

🗓️ 10 June 2024

⏱️ 42 minutes

🧾️ Download transcript

Summary

Carl Quintanilla and Jim Cramer covered all of the bases in kicking off a busy week for the markets: What to expect from Apple's Worldwide Developers Conference, inflation data and the Fed's decision on interest rates, Tesla shareholders to vote on Elon Musk's 2018 pay package. Meme stock madness: Cramer reacted to Roaring Kitty's livestream and the Friday plunge in GameStop shares. Also in focus: Nvidia's 10-for-1 stock split goes into effect, AMD downgraded, Southwest Airlines gets a boost from activism, EU elections impact, new additions to the S&P 500. Squawk on the Street Disclaimer

Transcript

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0:00.0

Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street.

0:08.4

Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintanio and Jim Kramer at Post 9 of the New York Stock Exchange. David Faber has the morning off. we do set the table for a big week. CPI, Fed decision, Tesla's annual meeting, future is getting dinged a bit by some higher yields in Europe

0:21.8

after Sunday's parliamentary elections. Our roadmap's going to begin with this big week on the street.

0:26.7

Investors preparing for that batch of inflation data, another big Fed meeting on Wednesday.

0:32.0

Apple holding its long-awaited worldwide developers conference today, expected to unveil some new AI

0:37.2

products to take on Microsoft and Alphabet.

0:40.2

And we will continue to monitor Musk and that major Tesla shareholder vote as one of the company's largest shareholders announced

0:47.4

they will be voting against the $56 billion pay package.

0:52.3

Let's begin, though, with what we said will be a busy week for the markets, Jim. Fed, of course, in the middle of it, CPI tomorrow.

0:58.7

Yeah, I mean, it's odd because it's June 10th. I mean, maybe it's before the end of the summer, but this is some week.

1:07.6

And the Worldwide Developers Conference has been something that we follow periodically.

1:12.0

This one has major import for reasons that have more to do with the new phone, but also with a

1:18.7

sense of what happened to Vision Pro, which I believe there could be a business angle. I know I'm,

1:24.0

I feel like I'm the lone believer in it, but I think it's exciting because we all kept our phones.

1:30.7

I don't know anyone who switched to the, although Best Buy says that Samsung phone is very popular,

1:36.0

but they never lost that even though, so I think there's a loyalty involved.

1:41.6

The Tesla, there's no loyalty involved.

1:43.5

I mean, here we have a guy who built a company,

1:45.4

and its heads in the Bears win and tails that Tesla.

1:53.5

He loses.

1:54.5

I just find that it's unfathomable that this is a person who built this thing,

1:58.2

and he's going to lose, I think.

...

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