Cramer's 2nd Half Playbook. China Slowdown Worries, Meta-Twitter Showdown Looms 7/5/23

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 5 July 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On the first full trading day of the second half, Carl Quintanilla and Jim Cramer explored what to expect from the markets over the next six months. Jim offered his take on the AI rally, the "arrogance" of the bears and his investment strategy for the upcoming earnings season. China services activity for June came in at its slowest in five months -- the data out one day ahead of U.S. Treasury Secretary Janet Yellen's four-day visit to Beijing. Also in focus: Meta expected to challenge Twitter by launching its "Threads" app this week, Teamsters vs. UPS, an upgrade for Netflix. 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. Don't miss a minute of the action.
0:07.5	Good Wednesday morning. Welcome to Squawk on the street. I'm Carl Kinteneo with Jim Kramer at Post 9 of the New York Stock Exchange.
0:12.7	David Faber has the morning off. First full trading session of the second half and futures are weak on some disappointing PMIs around the world, including China.
0:20.8	A lot of data this week and we will get FOMC minutes this afternoon.
0:24.1	Our roadmap begins with the global macro, soft China data, reviving some growth concerns.
0:28.6	Futures are slipping.
0:29.6	Investors are waiting some tea leaves from the Fed minutes.
0:32.4	Plus trouble for Twitter, meta's Facebook prepping a rival app launch as soon as tomorrow.
0:38.5	And Goldman,
0:44.4	upgrading Netflix as the streaming giant regained some momentum and content creation.
0:50.9	Let's begin with the markets. What a treat it is to have you back, Jim, because this second half playbook is important. Well, thank you, and it's great to be back i was able to go
0:55.4	vacationing with my daughters in iceland i had a lot of time to think about the market and what i
1:00.9	realized is that this whole nonsense of that it was only just well there you go one of my happiest
1:06.6	moments i summited it ahead of everybody else there. This whole concept of what went up,
1:14.1	I mean, give me a, it was a 50 pound stone that I couldn't lift. It tells you how strong you are.
1:19.2	This looks like serious reflection time is what it seems.
1:22.0	Oh, my God. I mean, like, you come back, ooh, the other, everybody's like looking for shipwrecks.
1:25.6	These are some good ones. And I would, I came back and I thought one thing, which is that who the heck cares what went up?
1:32.4	Stocks went up. And that if you were just possessed by the Fed, you were a gas bag. And you just simply could not make any money.
1:41.4	If you were possessed by how China was coming back, you missed everything.
1:46.7	If you thought about AI and if you thought about U.S. dominance and what is dominating, you made a kill
1:52.7	it. And I think we have to get away from those who don't look at stocks and don't look at AI.
	...

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