Squawk on the Street

On the first trading day of the new year, Jim Cramer and David Faber explored what's ahead for stocks after the worst year for the markets since 2008. Jim outlines his investment playbook for 2023. The anchors also discussed the continuing slump in Tesla shares after the company missed its deliveries target for 2022. Cramer explains why he believes this is the year Ford and General Motors are "coming for Tesla." Blackstone President & COO Jon Gray joined the program to discuss the $4 billion investment his firm's real estate investment trust is receiving from the University of California, after the BREIT fund experienced a surge in redemptions last month. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Morgan Brennan, Scott Wapner and Mike Santoli started the hour with a look back at stocks’ performance for 2022. All major indices were on pace for their worst performances since 2008; the Nasdaq the biggest laggard among the 3, down more than 30% year-to-date. CNBC also had new data from its Delivering Alpha Survey, with 40% of respondents saying they believe the S&P will rise somewhere between 6% - 10% in 2023. The anchors then shifted to the latest around Southwest Airlines, as the company said it expects to operate a normal schedule. Around the bells, the anchors also hit the tough year for cryptocurrencies; Bitcoin is set to end the year below $17K, and down more than 60% for 2022. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Morgan Brennan, Scott Wapner and Mike Santoli began the hour with Tesla, trying to build on yesterday’s gains after snapping a 7-day losing streak. CEO Elon Musk sent a note to employees telling them “don’t be too bothered by stock market craziness.” After that, the anchors then discussed the broader markets will the major indices trying to rally a day after the Nasdaq touched its lowest level in more than 2 years, following rising Covid concerns out of China. Also in the mix: CNBC’s senior real estate correspondent Diana Olick broke down some weaker-than-expected numbers in the housing market to end the year. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

2022 was a massive year for space, from a series of NASA milestones to the rise of mega-constellations. So why did publicly-traded space stocks crash this year, even as launch demand rises? Morgan sat down with United Launch Alliance CEO Tory Bruno to discuss the launch market, the company’s heavy-lift Vulcan rocket, and the outlook for the next year. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Morgan Brennan, Scott Wapner and Mike Santoli started the hour by breaking down the ongoing volatility around Tesla. Baird reiterated its “outperform” rating on the stock this morning, but lowered its price target to $252 from $316, the second price cut for Tesla in under a week. The anchors then shifted to the latest troubles for Southwest, as the stock continued to drop amid more flight cancellations. CEO Bob Jordan posted a video a last night, apologizing to his customers for the ongoing troubles saying he is “truly sorry.” Around the bells: they also mentioned AMC CEO Adam Aron asking his board of directors to freeze his salary in 2023 amid the company’s sliding stock price. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Morgan Brennan, Scott Wapner and Bob Pisani began the hour by breaking down the market action for the last trading week of 2022 as stocks tried to rally on news that China would drop quarantine requirements for international arrivals starting in January. Staying with travel, the anchors then shifted to discuss a chaotic weekend of holiday travel. Southwest Airlines canceled another 2,500 flights Tuesday and warned that mass disruptions will continue throughout the week, drawing scrutiny from the Transportation Department as other airlines recovered from severe winter weather. Also in the mix: Tesla shares continued to sink lower, and was on pace for its 7th straight day of losses. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

On the final trading day before Christmas, Carl Quintanilla and Jim Cramer discussed Elon Musk's promise to pause selling more shares of Tesla -- but that news didn't stop the stock from continuing its slump. How low can it go? On the crypto front: FTX founder Sam Bankman-Fried under house arrest after being released on $250 million bond, as he awaits trial on criminal charges related to the collapse of his crypto exchange. Also in focus: Market volatility, An inflation gauge closely watched by the Fed came in tamer than a year ago, Microsoft versus the FTC and Cramer highlights stocks worthy of your attention heading into 2023. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber reacted to Sam Bankman-Fried's return to U.S. soil after being extradited from the Bahamas. The founder of FTX set to be arraigned in federal court as he faces criminal fraud charges related to the collapse of his crypto exchange. The anchors also discussed comments from billionaire investor David Tepper after he told CNBC he is "leaning short" on equities. Also in focus: Micron dragging semiconductor stocks lower after quarterly results missed expectations and the company announced job cut plans, Q3 GDP revised higher, the NFL and YouTube strike a "Sunday Ticket" deal, Carmax tumbles, AMC plunges after announcing a capital raise, plus Tesla's stock slump: A buying opportunity? Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer and David Faber discussed the big stories fueling Wednesday's market rally: Nike shares surging on better-than-expected quarterly results and raised guidance, while FedEx also gets a lift on an earnings beat and its vow to continue aggressive cost-cutting measures. The anchors also reacted to Tesla shares hitting fresh 52-week lows and Elon Musk's tweet highlighting what he believes is to blame for the stock's slump, plus his promise to resign as Twitter CEO once he finds a successor. Also in focus: Published reports say Google's YouTube is in advanced talks for exclusive rights to the NFL Sunday Ticket subscription-only package. What could this mean for shares of Alphabet and streaming stocks? Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Cramer and David Faber engaged in wide-ranging discussions about Wells Fargo's multi-billion dollar settlement with the Consumer Financial Protection Bureau. The CFPB said it has ordered the bank to pay a penalty for "widespread mismanagement of auto loans, mortgages and deposit accounts." David with new reporting on the Twitter saga: Sources telling him Elon Musk is actively searching for a CEO to run the company. Also in focus: Big tech weakness, the Bank of Japan's action that surprised the global markets, plus what to expect from FedEx and Nike results after the close -- and what they might say about the consumer. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.