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Squawk on the Street

Jobs Report Gains vs. Layoffs, CoreWeave CEO "First on CNBC," Mega-Tech Record Highs 5/8/26

Squawk on the Street

CNBC

Investing, News, Business

4.0566 Ratings

🗓️ 8 May 2026

⏱️ 43 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber led off the show with market reaction to the better-than-expected April jobs report, plus where AI fits into the labor picture. The anchors also discussed layoffs at Cloudflare, Upwork and BILL.com — the companies' announcements came within a 24-hour period. CoreWeave CEO Michael Intrator joined the program at Post 9 to talk about the company's AI strategy, as well as the guidance that sent the stock lower. Another record setting day for the Nasdaq, with Nvidia and Apple hitting all-time highs. Also in focus: Anthropic's push toward a $1 trillion valuation, earnings winners and losers including Airbnb and Coinbase, U.S.-Iran deal watch. Squawk on the Street Disclaimer

Transcript

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0:00.0

Market moving insight and analysis.

0:02.1

Join Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Friday morning. Welcome to Squawk on the street. I'm Carl Kintania with Jim Kramer, David Faber, post nine of the New York Stock Exchange. Bowls will try once again for 7,400 as April Jobs comes in strong, 115K, unemployment steady at 4-3.

0:22.8

That takes the six-month average to the highest since last May.

0:26.7

Oil mostly unchanged, despite the U.S. and Iran exchanging fire in the Strait of Ormuz.

0:31.9

The president says he believes the ceasefire is still intact.

0:35.4

The UAE intercepts more drones and missiles today. Our roadmap begins

0:39.3

with that better than expected jobs report, more than doubling expectations. Plus President Trump,

0:44.6

oh, Carl just said this, saying the ceasefire with Iran is still in effect after the U.S.

0:49.6

and Iran did exchange fire yesterday. The president called those latest strikes, quote, just a love tap.

0:55.8

And at first on C&BC interview, don't want to miss this. CEO of Corwee. Stock under pressure

1:00.1

this morning in the pre-market, some weak guidance, but we can also just get an update overall

1:04.8

on the data center. So many important things happening in terms of focus on inference and what

1:09.6

that has meant.

1:13.5

Michael N. Trader be our guest momentarily.

1:17.7

Let's get some reaction to this jobs number, dive into some of the internals, Jim.

1:21.7

Lost a little on manufacturing information jobs.

1:24.5

Once again, 16 straight months of net job loss.

1:26.1

Yeah, it's really amazing.

1:28.2

I went the weeks on last night. It's CEO of Corning and Jensen Wong from Vittia. They're putting up so many plans at Apple last week,

1:35.0

hiring, hiring, hiring. We'll talk to Michael N-trader, hiring, hiring, and it just doesn't seem to

1:40.7

matter. We never seem to make a dent against the

1:44.5

man for the job losses. David, have you been able to figure it out where who in

...

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