Stocks Extend Record Rally, Powell’s Future, Verizon Leads the Dow 7/21/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 21 July 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla and Jim Cramer started the hour with a look at the busy earnings season ahead. Verizon kicked off the party with a beat and raised guidance, which sent shares of the company higher in early trading. The anchors also turned to a WSJ report that said Sec. Bessent laid out the case against firing Fed Chair Powell to the president. Trump later took to Truth Social to refute the story saying “I know better than anybody what’s good for the Market, and what’s good for the U.S.A.” Later in the show, the desk also turned to some of the day’s biggest movers, including a giant jump for Block following the company’s inclusion into the S&P 500. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street. Good Monday morning. Welcome to Squawk on the street. I'm Carl Canton here with Jim Kramer at Post 9 of the New York Stock Exchange. Fabers back tomorrow. Got some more all-time highs on deck for the S&P as we brace for earnings to kick into a higher gear. Half the Mag 7 this week alone. Yield backdrop fairly benign, 10 years back to about a one week
0:22.5	low. A roadmap begins with markets trying to build on these record highs. It's a big week for the
0:26.8	tech trade. We'll get Alphabet, Tesla, and others. Six months into the president's second term,
0:31.6	we'll get a look at the winners and losers in that period, and then shares of Verizon are
0:35.9	rallying, beating expectations, raising their outlook for the full year.
0:40.0	Let's get right to the markets, though.
0:41.2	Stocks are looking to extend their record rally.
0:43.3	Jim, this would be, I think, would be 10 for the S&P, 12 for the NASS?
0:47.1	You come in and interest rates are lower.
0:50.2	The backdrop is one of calm in Washington.
0:52.9	We expect that Europe was going to be tough with tariffs.
0:57.0	There's nothing new there.
0:58.0	Instead, what we're seeing is the leverage of earnings.
1:00.0	It's really good.
1:01.0	Wages haven't been up that much.
1:03.0	Maybe it's posulated by Mike Wilson, who Mike's had a good piece of it.
1:08.0	It could be all helped by AI.
1:10.0	I do look at the stocks that are trading up in the
1:12.8	morning, half of them are S&P, and half of them are totally speculative. I think it's two markets.
1:19.0	If you blend those two together, some mistake, they're just two markets, and it's just one of them
1:25.1	is GameStop, but better companies, and the rest of it is the S&P.
1:28.3	Right.
	...

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