Stocks Slump on Strong Jobs Report, “Fedspeak” and Rate Hikes, the Future for Meta's "Threads" 7/6/23
Squawk on the Street
English - July 06, 2023 14:36 - 42 minutes - 39 MB - ★★★★ - 489 ratingsBusiness News News Business Investing Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Cramer's 2nd Half Playbook. China Slowdown Worries, Meta-Twitter Showdown Looms 7/5/23
Next Episode: Cramer's Morning Take: ADP Jobs Data 7/6/23
Carl Quintanilla and Jim Cramer discussed rate hike fears, courtesy of employment data that sparked a market sell-off
and sent the 2-year note yield above 5% to a 16-year high. ADP said the private sector added 497,000 jobs in June,
more than doubling economists' estimates. The anchors also reacted to comments from Dallas Fed President
Lorie Logan and New York Fed President John Williams, both making the case for additional rate increases.
Also in focus: Treasury Secretary Yellen arrives in Beijing for talks with Chinese officials, market bright spots,
Meta launches "Threads" in a direct challenge to Twitter -- how might monetizing the new app and disrupting
the ad market fit into the picture?