Cramer “On Track” at Ford, a Busy Market Week, Disney's Pixar Problem 6/20/23

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 20 June 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla and Jim Cramer kicked off the show with Jim at Ford Motor, where he took a ride on the company's test track, focused on EVs and interviewed CEO Jim Farley for Tuesday's night's edition of "Mad Money." The anchors discussed the five-week rally and the road ahead for stocks -- as China cuts interest rates again and meets with the U.S., while Fed Chair Jerome Powell prepares for two days of Capitol Hill testimony on the economy beginning Wednesday. Cramer explains why he's concerned about the market in the short term. Also in focus: Disney's Pixar film "Elemental" disappoints in its box office debut, a spark for EV stocks, Alibaba's CEO to step down as part of a shakeup, May housing startssurge to a 13-month high. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:07.9	Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintanay at the New York Stock Exchange.
0:12.1	Kramer is live from the Performance Review Center at Ford Test Track in Dearborn, Michigan.
0:18.4	A lot more from Jim in just a moment. In the meantime, futures are
0:21.3	read as investors absorb some of these recent gains. Busy week on tap, although shortened,
0:25.6	with Powell on the Hill tomorrow and Thursday. Our roadmap begins with a rally pause. Futures
0:30.7	do point to a softer opening for stocks today. China cutting some key interest rates again
0:35.5	and Goldman trimming its growth outlook there,
0:38.1	the latest warning signs for the world's second largest economy, and some disappointment at
0:42.5	Disney, Pixar is Elemental, notching a record worst three-day weekend box office start in its history.
0:50.7	We'll begin, though, with Jim at four. Jim, you kind of teased this last week.
0:54.7	Give us a sense of what you're doing there.
0:57.3	All right.
0:57.8	Well, this is really about the change going from internal combustion engine to EV and how Ford's managing it.
1:04.6	Of course, Ford versus Tesla comes up very many times when I spoke with Jim Farley earlier this morning before he gave me a ride that I have
1:12.5	to admit I was completely nausea and was very grateful that I had not eaten breakfast.
1:16.3	But I have to tell you here, they're very motivated. They are about, let's say, the new, not the old,
1:24.3	even though I've got an unbelievable Mustang E and I've got a 150 EV behind me.
1:29.5	Carl, this place is so ready and Farley is so competitive that I think it's not necessarily a Tesla lookout.
1:36.4	It's world lookout, both in terms of profitability.
1:39.5	Oh, yeah, that was really ill advisor.
	...

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