Netflix shares are under pressure after its quarterly earnings forecast disappointed investors, and chip stocks are down amid concern about AI investment. JPMorgan Asset Management global market strategist Hugh Gimber explains why the pressure on chip and memory stocks might continue until hyperscaler companies report their own earnings in a few weeks. In Shanghai, CNBC’s Eunice Yoon reports on President Xi’s latest remarks pitching China to the global community as a leading partner in AI. President Trump has delivered his own remarks on China stateside, and LeBron James isn’t ready to announce his next move in the NBA. Plus, CNBC’s Diana Olick and Steve Liesman break down the latest housing data, what it means for the Federal Reserve, and what it tells Americans about affordability in this country. Eunice Yoon - 7:59 Hugh Gimber - 17:53 Diana Olick &amp; Steve Liesman 25:13 In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A Chip Sell-Off, Netflix’s Report, & President Xi’s AI Pitch 7/17/26

Squawk Pod

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[SPEAKER_04] This is Squawk Pod and I'm CNBC producer Cameron Costa. On today's episode, chip stocks are under pressure. JP Morgan asset management global market strategist Hugh Gimber considers it a healthy correction. But he says relief won't come until we know more about big tax spending.

[SPEAKER_11] For me, I think what's key here is not so much what the semis names are telling you themselves, but rather what we're going to get from the hyperscalers over the next couple of weeks.

[SPEAKER_04] And America's housing affordability problem. CNBC's Diana Olick. How do you fix housing? Supply. Joining her is our own Steve Leesman.

[SPEAKER_03] If you want to invest in housing, you should buy shares in FUTON because that's what people are using.

[SPEAKER_04] President Xi Jinping is pitching China as a leading AI partner. Eunice Yun reports from Shanghai.

A Chip Sell-Off, Netflix’s Report, & President Xi’s AI Pitch 7/17/26

Read the full transcript

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

A Chip Sell-Off, Netflix’s Report, & President Xi’s AI Pitch 7/17/26

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.