Squawk on the Street

Tesla's stock soars as Elon Musk bags a multibillion-dollar pay package, stirring discussions on executive compensation. President Trump fires the head of the Bureau of Labor Statistics, raising eyebrows about labor data integrity. Meanwhile, the stock market rebounds after recent losses, with exciting earnings forecasts for companies like Palantir. Apple's potential move into AI and the impact of tariffs on consumer goods are hot topics, alongside the evolving tech landscape and how it's reshaping job markets.

Rafael Bostic, the Atlanta Fed President, offers unique insights into the disappointing July jobs report and its implications for the economy. He discusses the Fed's tough decisions amid tariffs impacting inflation. The conversation also dives into Goldman’s case for stagflation, while the SEC's new Project Crypto attracts attention for its regulatory promise. Bostic notes a few hopeful signs in a challenging environment, and the hosts dissect the latest shifts in big tech stocks like Amazon and Apple in response to economic pressures.

Mike Wirth, Chairman and CEO of Chevron, shares insights on the energy sector's future amid changing economic conditions. He discusses Chevron's impressive second-quarter earnings and growth strategy focusing on natural gas's crucial role in powering data centers for AI. The conversation also touches on the impact of President Trump's tariffs on trade and what this means for big players like Apple and Amazon, highlighting the importance of energy security in today's market.

Strong earnings from Meta and Microsoft are making waves in the market. The discussion delves into their hefty investments in artificial intelligence, revealing how these moves could shape future trends. There's a fascinating look at the tech sector's strategic pushes in data centers and their revenue growth, alongside a surprising analogy with baseball trades. Insights into Q3 revenue surprises hint at manageable hiring costs and valuation debates, sparking interest in potential undervaluation in the market.

Joining the discussion is Rene Haas, CEO of ARM, a leading chip designer crucial for powering AI. He dives into ARM's impressive financial performance and its pivotal role in the tech market, especially in China. The conversation shifts to the impact of inflation and interest rates on the tech landscape, highlighting ARM's innovation amidst challenges. They also touch on the IPO buzz surrounding Figma and how tech companies like Meta and Microsoft are navigating earnings amidst evolving economic conditions.

The tech landscape is ablaze as Microsoft joins the $4 trillion club with stellar quarterly results, alongside Meta hitting an all-time high thanks to its AI investments. The podcast dissects the implications of a new universal tariff on copper and Figma's exciting IPO. Beyond tech, it highlights mixed earnings from giants like Qualcomm and Ford, while innovative business models reshape the market's dynamics. Tune in for insights on inflation trends and the ever-evolving world of tech stocks!

Emma Walmsley, CEO of GlaxoSmithKline, discusses pivotal industry expectations regarding tariffs and innovations in specialty medicines. She shares insights on the rapidly evolving pharmaceutical landscape, emphasizing the impact of regulatory changes and groundbreaking drug developments. The conversation also highlights Hershey's CEO transition and challenges in the confectionery market, such as rising cocoa prices and changing consumer habits. Additionally, the outlook for tech giants is analyzed as major earnings reports loom, underscoring the competitive dynamics shaping various sectors.

Brian Niccol, CEO of Starbucks, dives into the company's turnaround plan and the innovative Green Apron service model aimed at boosting customer experience. He reflects on the optimism surrounding Starbucks' financial future. Meanwhile, Kevin Hassett, former National Economic Council Director, offers insights on the stronger-than-expected Q2 GDP, discussing its implications alongside tariffs and the Fed. The conversation also touches on the $25 billion merger between Palo Alto Networks and CyberArk, reshaping the cybersecurity landscape.

Jim Cramer and Jeff Marks dive into the recent struggles of a major drugmaker, focusing on lowered forecasts and faltering stock performance. They discuss the fierce competition the company faces and the possibility of a price war to regain market traction. Additionally, they explore the unique advantages of Fidelity Active ETFs and their potential to outperform traditional index funds in volatile markets.

John Sanmarco, a portfolio manager at Neuberger Berman, shares insights on navigating today's consumer market. The discussion highlights improving consumer confidence amidst mixed signals from major sectors. Sanmarco addresses the impact of new tariffs on retail and pharmaceuticals, and analyzes the challenges faced by beauty retailers like Ulta. Additionally, he delves into the monumental Union Pacific and Norfolk Southern merger, exploring its implications for the freight landscape and operational efficiency in the rail industry.