SOTS 2nd Hour: You Meta Believe It, Microsoft $4T, plus – ARM CEO, NYSE Pres. Talks Figma IPO 7/31/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 31 July 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Big Tech boosting the S&P to record highs: Sara Eisen and David Faber broke down the latest on the data front (PCE, fresh Powell commentary on tariffs & inflation) with a special guest – Jim Cramer, joining the team ahead of a First On CNBC interview with the CEO of chip designer ARM as shares fall there on disappointing results. Plus: parsing through a deluge of earnings over the last 24 hours… RBC’s U.S. Equity Strategy Head Lori Calvasina gave her take on it all – and why it’s becoming a “stock picker’s market” as companies navigate tariffs – while one big tech analyst along with CNBC’s Steve Kovach broke down Meta, Microsoft, Amazon, and Apple this hour. Also in focus: a blockbuster public debut at the New York Stock Exchange as Figma prices above the range. NYSE President Lynn Martin discussed all the action, the IPO pipeline, and a whole lot more in a wide-ranging deep-dive this hour.

Transcript

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0:00.0	Good Thursday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with David Faber and Jim Kramer joins us as well.
0:10.0	Ahead of an interview you do not want to miss. The CEO of ARM as shares pulled back following quarterly results.
0:15.0	That's in just a moment. But first, broader markets, while they're winning today again,
0:20.0	thanks in part to just this stunning
0:21.7	move in meta up almost 12% right now.
0:24.9	Microsoft also rallying big off of earnings.
0:28.4	That's why communication services and technology are your best performing groups in the overall
0:32.5	market right now.
0:33.2	It's why the NASDAQ is up 1.6%.
0:35.1	But there's also strength in industrials, financials, energy, and materials sectors today as well.
0:40.3	Take a look at Treasuries.
0:41.3	Got some inflation data, which we'll mention a moment.
0:44.3	There's buying, which has been a reversal after yesterday's Fed meeting.
0:47.3	Ten-year yield 4.35.
0:49.3	Remember, big jobs report tomorrow.
0:51.3	Also ahead this hour, we are awaiting Figma's first trade
0:55.2	after the software company priced above its expected range. It's very loud here at the stock
0:59.7	exchange. Got a big crowd for the Figma IPO. And the New York Stock Exchange President Lynn
1:04.0	Martin will be with us to talk about the latest debut and what else is in the pipeline.
1:09.0	But guys, the big economic report that everyone was waiting for today was PCE.
1:12.6	This is the Fed's preferred inflation measure.
1:16.6	And PCE prices on a monthly basis went up 0.3%.
	...

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