56 min listen
Market Selloff Accelerates to Start the Week, Rivian Plunges as Lockup Expires, Uber CEO Memo on Company Plans 5/9/22
Market Selloff Accelerates to Start the Week, Rivian Plunges as Lockup Expires, Uber CEO Memo on Company Plans 5/9/22
ratings:
Length:
43 minutes
Released:
May 9, 2022
Format:
Podcast episode
Description
Carl Quintanilla & Jim Cramer discuss the market selloff intensifying to start the week. The S&P 500 tumbling to a new low for the year. Minneapolis Fed President Neel Kashkari’s commenting on inflation, saying he’s confident it will come back to the central bank’s 2% target, but not without some pain. David Faber breaking news that Ford is selling 8 million of its 102 million share stake in Rivian, according to his sources. Shares of the EV maker getting hammered on the news. The moves comes as the insider lockup period for selling the stock expires. Uber moving lower after CNBC obtained a staff email saying the company plans to slash spending on marketing, incentives and will be deliberate when adding workers. Uber CEO Dara Khosrowshahi saying, “After earnings, I spent several days meeting investors in New York and Boston… It’s clear that the market is experiencing a seismic shift and we need to react accordingly.” Plus, Carl and Jim breakdown the other big movers of the morning including Coty, Palantir and Tyson Foods.
Released:
May 9, 2022
Format:
Podcast episode
Titles in the series (100)
Squawk on the Street: Opening Bell 08/07/2019: The opening hour of CNBC’s "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast each weekday from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds by Squawk on the Street