Squawk on the Street

Jim Cramer and Jeff Marks discuss the May Unemployment Report and the finalizing of the U.S. debt deal. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake  CNBC Investing Club Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla Jim Cramer and David Faber focused on the market rally sparked by a blowout May employment report: Non-farm payrolls rose by 339,000 and wage growth remained solid. The unemployment rate increased to 3.7%. The anchors also discussed a published report which says Amazon is in talks to provide low-cost mobile services to its Prime customers in the U.S. In reaction to that report, shares of Verizon, AT&T and T-Mobile took a hit -- but Dish Network rallied. Amazon is among Bank of America's "Magnificent Seven" tech stocks which have surged in the first five months of 2023. The firm said tech equity funds saw record weekly inflows, sparked by investor interest in AI. Also in focus: The Senate passes the debt ceiling bill, tech earnings winners, Lululemon surges, SentinelOne plummets. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and Jeff Marks share why they think the market has not been strong outside of a handful of megacap stocks. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake  CNBC Investing Club Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla Jim Cramer and David Faber led off the show with big tech and Salesforce: Shares of the Dow component fell despite a quarterly beat, raised guidance and a focus on AI.Worries about consumer demand in the spotlight: Macy's slashes its full-year guidance and Dollar Generalposts a quarterly miss along with a lowered outlook. Also in focus: Target enters June with a nine-session losing streak, the House passes the bipartisan debt ceiling bill,  two Fed officials make the case for skipping a rate hike this month, playing the cloud stocks, billionaire Bill Ackman urges Jamie Dimon to run for president. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and Jeff Marks discuss how new U.S. manufacturing and employment data are telling two different stories about the state of the economy. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake  CNBC Investing Club Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla Jim Cramer and David Faber had lots to discuss on the final trading day of May: A strong month for the Nasdaq fueled by AI. The debt ceiling deal heads for a full House vote after clearing a key procedural hurdle.Chinese stocks are back in bear market territory as economic reports disappoint the markets. JPMorgan ChaseCEO Jamie Dimon sends a message to Washington and Beijing during his visit to China. Also in focus: Shares of Advance Auto Parts plummet, a rough May for crude oil, earnings winners and losers, the upcoming Microsoft-Activision trial in the UK.  Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and Jeff Marks discuss the tentative U.S. debt ceiling deal and what it means for the market. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake  CNBC Investing Club Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla Jim Cramer and David Faber discussed the AI rally and a new milestone:Nvidia's market cap surpassed $1 trillion for the first time. How does the stock compare with the other "trillion-dollar club" members -- Apple, Microsoft, Alphabet and Amazon? The anchors also explored what investors should make of the tentative debt ceiling deal forged by President Biden and House Speaker McCarthy.Also in focus: Elon Musk visits China, plus media and the bidding war for the rights to televise NBA games. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Sara Eisen and Mike Santoli discussed the ongoing market volatility with the Dow closing below its 200-day moving average for the first time since late March. Investors continued to look to D.C. as the White House and congressional negotiators close in on a compromise agreement to raise the debt ceiling for two years. The anchors also discussed the surprise partnership between Ford and Tesla. Ford announced it will work with Tesla on charging initiatives, allowing current Ford owners access to more than 12,000 Tesla Superchargers across the U.S. and Canada. After the bells, the desk drilled down on retail movers with shares of RH and Ulta getting crushed post-results while shares of Gap rallied.Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and Jeff Marks break down Nvidia after reporting explosive first-quarter earnings. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake  CNBC Investing Club Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.