SpaceX Demand & Cynicism, A Strong Labor Market, & Screwworm 6/8/26

Squawk Pod

CNBC

Investing, Business, Business News, News

4.2 • 547 Ratings

🗓️ 8 June 2026

⏱️ 47 minutes

🔗️ Recording | Apple Podcasts | RSS

🧾️ Download transcript

Summary

After a stronger-than-expected May jobs report on Friday, US markets tumbled, breaking the S&P 500’s 9 week winning streak. Steve Liesman explains the monetary policy that could be coming this year under new Federal Reserve Chair Kevin Warsh. Ahead of the SpaceX IPO this week, Leslie Picker reports on retail investor demand for the listing, including which assets investors might flow out of to accumulate enough cash to buy into SpaceX. Despite the hype around Elon Musk’s listing, famed hedge funder Steve Eisman is not as positive. Eisman explains his own rationale for cynicism on SpaceX. Plus, CNBC’s Dan Murphy reports on the first strikes between Iran and Israel since the April ceasefire, and U.S. Agriculture Secretary Secretary Brooke Rollins explains how the USDA is managing screwworm. Steve Liesman - 04:19 Dan Murphy - 11:40 Leslie Picker - 20:16 Steve Eisman - 26:30 Sec. Brooke Rollins - 36:54 In this episode: Steve Liesman, @steveliesman Dan Murphy, @dan_murphy Leslie Picker, @LesliePicker Robert Frank, @robtfrank Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music, please.
0:04.3	This is Squawk Pod, and I'm CNBC producer Cameron Costa.
0:08.7	On today's episode, we're digesting Friday's sell-off.
0:13.6	The S&P 500 breaking a nine-week winning streak.
0:16.6	First, how the strong May jobs report shook market expectations for Kevin Warsh's first
0:22.7	interest rate decision as Federal Reserve Chair.
0:26.0	The rate hike debate with CNBC's Steve Leasman.
0:29.6	The probability of federal rate like this year at 70% this morning for December, up from 44%
0:35.0	before the Friday report.
0:36.1	And then the NASDAQ piece, how the SpaceX IPO this week could have played into a rotation out of tech.
0:44.0	CNBC's Leslie Picker.
0:46.0	According to B&P Paribah, the firm hypothesizes that retail plus passive flows into the IPO could be about $50 billion.
0:55.0	SpaceX clearly has pented up investor demand, but famed hedge funder Steve Eisman is one investor
1:02.0	who's less hyped up about it.
1:05.0	GROC, with all due respect to Elon Musk, is not a world-class AI company.
1:09.4	The entire company is being bet on AI in terms of its
1:14.4	future, not on space and not on Starlink. Those are his words, not mine. Plus, Iran and Israel
1:21.2	have exchanged fire for the first time since the April ceasefire, an Agriculture Secretary,
1:29.4	Brooke Rollins, on the screw worm.
1:36.4	The food supply is not at risk. This is not a virus. It's not a disease. It's just a little pest.
1:41.5	It is Monday, June 8th, and Squawk Pod begins right now.
1:44.8	Stand Becky by in three, two, one.
	...

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