Twitter vs. Musk; Jobs Friday Surprise; GameStop Power Plays 7/8/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 8 July 2022

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Some recession we’re having, huh? A surprisingly positive jobs report for the month of June may defy fears of a looming economic slowdown. Payrolls increased by 372,000 jobs, above expectations. CNBC’s Steve Liesman and SoFi Head of Investment Strategy Liz Young discuss the robust labor market with Joe Kernen and Melissa Lee. Elon Musk and Twitter are still dancing around a possible deal; The Washington Post reports that Musk’s proposed $44B bid to buy the social media platform could be in jeopardy. Axios’ Sara Fischer and Cowan merger strategist Aaron Glick say that Twitter’s board is the one that could be flexing its power – Musk faces a billion-dollar break-up fee if he walks away. And, the latest from the mother of meme stocks: GameStop’s latest move to reinvent the brick and mortar video game retailer puts its CFO and other corporate employees out of jobs. In this episode: Sara Fischer, @SaraFischer Steve Liesman, @SteveLiesman Liz Young, @LizYoungStrat Joe Kernen, @JoeSquawk Melissa Lee @MelissaLeeCNBC Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer today on Squack Pod.
0:08.0	Elon Musk, Twitter, will they?
0:11.0	I don't know if anyone can really look into the mind of Elon Musk.
0:14.4	Won't they?
0:15.4	The deal of 2022 could be in jeopardy.
0:18.0	Axios is Sarah Fisher.
0:19.6	The powers and Twitter is bored right now.
0:21.3	Elon Musk is not in a good position. And merger strategist Aaron Glick of Cowan.
0:25.0	The most likely outcome is a price cut.
0:28.0	A hot jobs report could defy recession fears.
0:31.0	This is some recession we're having having isn't it? June's monthly
0:34.4	employment figures better than expected what that means for policy makers
0:38.1	trying to keep us off a cliff. So Fies Liz Young and these numbers are telling us
0:42.4	okay we're not there yet we can still absorb some so buys Liz Young. And these numbers are telling us,
0:42.5	okay, we're not there yet.
0:43.7	We can still absorb some more rate hikes
0:45.8	in the economy before things actually break.
0:48.4	Plus a staffing curveball at the original meme stock,
0:52.1	Game Stop.
0:53.0	I guess you can have a new business model that does more online,
0:57.0	but I can't imagine you're going to be visiting Game Stop retail locations.
	...

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