Tech Dominates a Big Week of Earnings, China Crackdown Effect on Stocks, and Is the Delta Variant About to Peak? On the Crypto Front: Tether Execs Said to Face Criminal Probe and Bitcoin Jumps to 6-Week Highs Amid Speculation About Amazon
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 26 July 2021
⏱️ 43 minutes
🧾️ Download transcript
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| 0:00.0 | Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. |
| 0:08.0 | Good Monday morning, welcome to Squawk on the Street. I'm Carl Kintanio with Jim Kramer at the New York Stock Exchange. David Faber has the morning off. Futures are well off the early lows of the morning on this final week of July. What a week it'll be, peak earnings season, Fed meeting, and of course a lot more talk about disruption from the Delta variant. Our roadmap begins with that monster week for earnings. Tesla today. Other big tech like Apple, Alphabet, Facebook, and Amazon also on tap. |
| 0:40.0 | The China crackdown, Beijing targeting both on 10 cents music licensing and the entire tutoring industry, |
| 0:47.4 | fueling further tensions between the world's top two economies, and the crypto rally. Bitcoin hits its highest level in six weeks. |
| 0:55.6 | Amazon now reportedly considering accepting crypto payments. |
| 0:58.9 | But we are going to start with the China flurry of headlines, Jim, whether it's, we've |
| 1:03.0 | got to downgrade Adi from Atlantic today just because the regulatory environment there's |
| 1:07.0 | changing so quickly. |
| 1:08.0 | It is amazing that we had all thought that perhaps what should happen is the United States |
| 1:12.4 | should block Chinese companies from listing here. |
| 1:16.1 | Maybe we shouldn't fund them. |
| 1:17.2 | That had been a big issue with the previous administration. |
| 1:19.4 | Kind of just talked about it. |
| 1:20.4 | Turns out they don't want us. |
| 1:21.9 | They don't want their money. |
| 1:22.7 | They don't want our money. |
| 1:24.3 | It seems like they want to destroy American stocks. |
| 1:27.3 | Now, it's very difficult because |
| 1:28.5 | the Eunice has done some amazing reporting, but let's just take a Bank of America piece today |
| 1:34.5 | about the downgrading of the after school trainings. You know, we're talking about some very, |
| 1:40.8 | very liquid stocks, New New Oriental towel. |
| 1:51.2 | And they're saying that there's a policy to reduce the burden of homework after school. Now, frankly, that may be the statement. |
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