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Squawk Pod

YOLO Summer: Travels, Trip-Ups, & Retail Spending 7/12/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 12 July 2022

⏱️ 26 minutes

🧾️ Download transcript

Summary

It’s YOLO summer! Travelers are on the move, but airline and airport shortages are causing speedbumps. London’s Heathrow Airport is managing a staffing shortage by capping the number of passengers traveling per day and requesting that airlines stop selling tickets. Still, with so many people on the move, retail watcher Jan Kniffen wonders how many consumers will be around to take advantage of retailer sales like Amazon Prime Day. CNBC’s Courtney Reagan shares retail’s biggest sales and hurdles for the second half of the year, and Cleo Capital’s Sarah Kunst discusses the stickiest purchases for Amazon. In other retailer news, Gap CEO Sonia Syngal is stepping down. Plus, the Saudi Arabia-funded LIV Golf series has upended the sport; multi-million dollar payday offers for athletes have prompted backlash for pro-golfers and an investigation from the Department of Justice. On the Elon Musk front, his Twitter drama continues, and his latest SpaceX launch was “actually not good.” In this episode: Jan Kniffen, @JRogersK Sarah Kunst, @sarahkunst Courtney Reagan, @CourtReagan Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @Andrewrsorkin 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

What do pro-Gulfers, the DOJ and Saudi Arabia have in common, well a $20 million tea time.

0:15.0

It's business, sunny, it's business, it's business, sunny.

0:19.0

And it's Amazon Prime Day, that is if you're not shopping in, I don't know,

0:22.8

Capri or Santarini, retail watcher Jan Niffin on who's buying?

0:27.2

I don't expect a whole lot out of this Prime Day

0:29.5

because I don't think that's where the customer is right now.

0:32.0

The top two, three quintiles, perhaps,

0:34.4

so consumers are all out on vacation.

0:37.1

Those stories today, plus Musk and Twitter

0:40.1

and Musk and Rockets, and Heathrow's airport is taking drastic measures.

0:45.0

And what would happen in the United States if JFK, LAX and O'Hare said we're putting caps on?

0:51.0

For summer travel.

0:52.0

For summer travel.

0:53.6

Whoa, whoa.

0:54.7

It's Tuesday, July 12th.

0:56.5

Whoa, we just use that as a sound effect at this point.

0:59.3

Squawkpot begins right now.

1:01.5

Stand under by, and three, two, one, you Andrew.

1:05.0

Good morning and welcome to Squawk Box right here on see NBC.

1:08.5

We're live at the Nasdak Market site in Times Square Manz,

...

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