meta_pixel
Tapesearch Logo
Log in
Squawk on the Street

Market Sell-Off: Oil Spikes, Jobs Go Negative, NEC Director Hassett, Robinhood CEO 3/6/26

Squawk on the Street

CNBC

Investing, News, Business

4.0566 Ratings

🗓️ 6 March 2026

⏱️ 45 minutes

🧾️ Download transcript

Summary

Carl Quintanilla and Jim Cramer covered the catalysts driving major selling on Wall Street: The February jobs report shows a loss of 92,000 jobs, Oil and gasoline prices extended their sharp gains in reaction to Middle East tensions, President Trump posted on Truth Social that there will be no deal with Iran except "unconditional surrender." The anchors interviewed National Economic Council Director Kevin Hassett about those issues and many more. Robinhood CEO Vlad Tenev joined Carl and Jim at Post 9 after ringing the NYSE opening bell. They discussed everything from the company's platinum card to the public debut of Robinhood Ventures Fund — which gives retail investors access to late-stage private companies. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0

Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kington-Nia with Jim Kramer at Post-9 of the New York Stock Exchange.

0:04.9

Faber has the morning off. Stocks look to open near the lows for the week as February Jobs does come in with a surprise drop.

0:12.0

92K, worst in over five years. The war meantime intensifies. Oil goes to 87 for the first time in almost two years.

0:20.4

Our roadmap begins with the jobs number,

0:22.1

that big miss, as oil and gas prices do continue to surge on mid-east tensions. We'll talk about

0:27.0

it all with NEC director Kevin Hassett. Anthropics' Dario Amodi apologizes for that leaked memo,

0:33.2

but adds that the AI startup sees no choice but to challenge the Pentagon supply chain risk designation in court.

0:39.9

And Robert Hood's Vlad Tenet is going to join us here at Post 9.

0:42.3

We'll talk about this company's platinum card as well of its ventures funds set to debut here at the big board today.

0:50.0

Let's begin with a lot for the markets to digest this morning from surging oil and gas prices

0:54.4

to this weaker than expected jobs number, Jim.

0:56.9

There was a strike in there.

0:58.3

That's maybe 30,000 workers.

1:00.5

Yeah, but the areas where there's no growth are areas that there have been growth, and

1:07.4

I've got to tell you that I don't want to see there's been so many people laid off from the federal government, which is fine.

1:12.6

But where are they?

1:14.6

And I have to tell you, when I saw employment information to trend down, 11,000.

1:19.6

Okay, that has to be AI.

1:21.6

Enough.

1:22.6

Enough.

1:23.6

We sit here and listen to all these companies, Carl, and they're saying that they can take call centers, they can make sure that the people who are third and fourth year, they don't need to be the way. Here it is. It's the beginning. You mean of AI productivity? It's the beginning. You're done asking questions. Yeah, I just say, okay, that's it. People don't want to hire and they're letting people go. They are doing some firing.

1:45.0

And I think we just have to accept the fact that the information component of the labor

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.