Retailers Be Warned & Coffee for Crypto 7/26/22

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 26 July 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Walmart has issued a dire warning to Wall Street, sending share prices of other retailers lower after cutting its profit outlook. Congress aims to move on U.S. chip manufacturing legislation this week. Senator Todd Young (R-IN) discusses moving the industry to the country’s heartland in the name of national security. Washington lawmakers are aiming to make it easier for consumers to use cryptocurrency in everyday purchases; Ylan Mui reports on plans for a future without a bitcoin capital gains tax for small buys. Plus, more of Elon Musk’s extracurriculars and the EU’s tenuous energy landscape. In this episode: Sen. Todd Young @SenToddYoung Ylan Mui, @ylanmui Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin Klaire Odumody, @klairemarie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. M.C. producer Claire Odumody, today on Squawk Pod.
0:09.0	Walmart's drastic inflation warning, the profit cut heard around Wall Street.
0:14.0	If you want some lawn furniture, that may be available at a much cheaper price than before.
0:18.0	And now food and gas and all of the other things that people actually do need are higher.
0:23.0	And high stakes on the hill, Senator Todd Young on bringing chipmakers to America's
0:28.5	heartland.
0:29.5	There's a national security imperative for this so that we can be more resilient the next
0:33.6	time a pandemic or any sort of natural disaster occurs and also if there's a
0:38.0	geopolitical event. Those stories plus
0:43.2	Tails from the
0:45.0	tales tales from the crypto Washington's plans for our wallets
0:49.7	with see MBC's Elon Moy
0:51.6	If someone uses Bitcoin to buy a cup of coffee,
0:54.3	they'd have to pay capital gains.
0:56.0	Have you found a person that has it?
0:57.7	I don't know why you would use Bitcoin to buy a cup of coffee.
1:00.6	It's Tuesday, July 26th, 2022.
1:04.4	Squawk Pot begins right now.
1:06.4	First up today, a stark warning from the nation's largest retailer.
1:15.0	Walmart cut full year and quarterly guidance saying inflation is causing consumers to
1:21.0	spend more on necessities like food and less on clothing or electronics.
	...

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