SOTS 2nd Hour: Big Tech’s Capex Plans, Amazon Stock Plunges, Musk’s Net Worth Passes $850B 2/6/26

Squawk on the Street

CNBC

News, Investing, Business

4.1 • 567 Ratings

🗓️ 6 February 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

New numbers detail just how much big tech is planning to spend on capex this year. The street showing some concern with many of the Mag 7 names under pressure this week. We talk with one Wall Street analyst who lays out the bull case for Amazon. Plus, Elon Musk’s net worth surging past $850 billion. More details on that staggering wealth gain. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Friday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl
0:10.2	Continia and David Faber. We are live, as always, from post nine of the New York Stock Exchange.
0:14.7	Coming up this hour, a sell-off at Amazon, adding to a brutal week for tech. As the company
0:20.1	forecast $200 billion in spending this year, we're going to look at the
0:23.7	carnage in the space and whether or not Amazon's drop is a buying opportunity.
0:28.4	Plus more cracks in the electric vehicle story as Jeep parent, Stalantis tanks on a business
0:33.7	reset, details on that story.
0:35.7	And we'll talk to Draft King CEO Jason Robbins about the big money being wagered on
0:40.2	this weekend Super Bowl.
0:42.0	First, though, consumer sentiment is just crossing the tape.
0:44.6	Let's get to Rick Santelli.
0:45.8	Hey, Rick.
0:47.3	Yes, good morning, Carl.
0:48.6	These are our February preliminary reads in a couple of weeks.
0:51.6	They will get marked a little bit more clearly, more accurately.
0:55.6	57.3 is our headline Michigan number well above 55 expectations.
1:01.9	Sequentially higher than 56.4, the highest read since August of last year.
1:08.0	Kerr conditions similar.
1:10.0	A giant pop, 58.3, sequentially following 55.4, best since October
1:16.4	of last year. Expectations? Better than we were expecting of 56.6, but sequentially lower,
1:24.3	at least up to this point, if there's no revisions from 57 last month.
1:28.5	However, it's still a very solid read best since July of last year.
	...

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