Carl Quintanilla and Scott Wapner discussed a July jobs report surprise: Non-farm payrolls fell unexpectedly by 23,000. J.P. Morgan Asset Management&#x27;s David Kelly and Trivariate Research&#x27;s Adam Parker offered their perspectives on the markets. Hear what President Trump told Punchbowl News about Fed Chairman Warsh and rate moves ahead of the midterm elections. Carl and Scott delved into Palantir and other tech stocks that have had a red-hot week. The anchors also explored a slew of high-flying earnings winners — including one stock soaring 60%. Also in focus: SpaceX extends its post-lock-up rebound; OpenAI set to launch a new product; What top bank executives told CNBC about the meltdown of hedge fund Situational Awareness.<br><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: Unexpected Decline in July Jobs, Trump's New Comments About Warsh, Tech Winners' Red-Hot Week 8/7/26

Squawk on the Street

[SPEAKER_08] Market Moving Insight and Analysis. Join Jim Cramer, David Faber and me, Carl Quintanilla on the opening bell hour of CNBC's Squawk on the Street. Good Friday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Scott Wapner here at Post 9 of the New York Stock Exchange. Cramer and Faber have the morning off. Pre-market holding some gains as July Jobs comes in with a surprise drop. 23,000 first decline since February with the weakest annual wage growth in years.

[SPEAKER_08] It is prompting a rethink of any potential rate hike in September, two years down about 10 bps. Oil's gone red as well, even as the only Iran deal in the works appears to be one with Oman. Our roadmap begins with that unexpected July jobs number. We're going to break it down with the Dow and the S&P still aiming for their best week since April.

[SPEAKER_09] Plus, we're watching a batch of software reports today sending names surging double digits. The IGV adding to its strong Q3 gains and what President Trump is saying about Fed Chair Kevin Warsh. New comments this morning. We'll bring them to you.

[SPEAKER_08] Let's start talking about this jobs number this morning. Really interesting print here. Twenty three K. A lot of that was government down about fifty three. So private adds about 30. But manufacturing only up five restaurants cut twenty six. And we're going to talk all morning long, Scott, about whether or not this was related to an unwind of World Cup or how big of a distortion that was.

9AM Hour: Unexpected Decline in July Jobs, Trump's New Comments About Warsh, Tech Winners' Red-Hot Week 8/7/26

Read the full transcript

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

9AM Hour: Unexpected Decline in July Jobs, Trump's New Comments About Warsh, Tech Winners' Red-Hot Week 8/7/26

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.