Carl Quintanilla, David Faber and Morgan Brennan explored stocks extending Wednesday&#x27;s losses and long bond yields rising to levels not seen since 2004. A live report from Beijing as global markets watch developments surrounding the U.S.-China summit between Presidents Trump and Xi. Oracle shares fell sharply on a report which says the company sent a &quot;Force Majeure&quot; notice about a data center project. The anchors discussed Meta debuting new $1,299 VR glasses and a &quot;Muse Charm&quot; handheld device — and reacted to what CEO Mark Zuckerberg said on Joanna Stern&#x27;s podcast about this month&#x27;s launch of Meta&#x27;s &quot;Muse&quot; AI agent. Also in focus: Crude oil and diesel prices rise; Starbucks to close 250 stores; Barry Diller withdraws his takeover bid for MGM Resorts; Aerospace and defense stocks in bear territory.<br>Squawk on the Street Disclaimer<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

9AM HOUR: Markets and the Trump-Xi Summit, Oracle Slides, Meta's New Products and "Muse-Mania" 9/24/26

Squawk on the Street

[SPEAKER_07] It's Jim Cramer here. You're listening to the opening bell of CNBC's Squawk on the Street. Don't miss a minute of the action.

[SPEAKER_02] Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanillo with David Faber. Morgan Brennan's with us at Post 9 of the New York Stock Exchange. Cramer has the morning off. Pre-markets on the back foot after yesterday's selling as bond yields come off their biggest one-day rise in over a year. Ten-year gets to 5.15 today. That's the highest in almost two decades. Long bond gets to 5.44. Even the five-year had its third worst day yesterday in half a decade.

[SPEAKER_02] Our roadmap begins with that rise in yields pushing higher once again. Long-term yields hitting the highest level since 04.

[SPEAKER_09] Oracle share is also under pressure this morning. It's amongst the biggest laggards of the morning so far. There are some reports or a report from Bloomberg. The company sent a force majeure notice to the developer of its New Mexico data center project. We'll have more on this.

[SPEAKER_04] And chips, AI trade, Iran, all expected to be key topics as President Trump and Chinese leader Xi Jinping meet in Washington this morning.

[SPEAKER_02] We began with the markets on track to extend yesterday's losses as yields do rise and the world watches developments surrounding the U.S.-China summit. We'll get some welcoming remarks this morning around 10 a.m., a bilateral in the Oval and expanded bilateral in the Cabinet room later on with the President of China. But this global bond sell-off is really interesting. We've got a great piece up on our website today looking at the amount of interest that advanced economies are paying on their government bonds.

9AM HOUR: Markets and the Trump-Xi Summit, Oracle Slides, Meta's New Products and "Muse-Mania" 9/24/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

9AM HOUR: Markets and the Trump-Xi Summit, Oracle Slides, Meta's New Products and "Muse-Mania" 9/24/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.