On the last trading day of a holiday-shortened week, Carl Quintanilla and Jim Cramer reacted to the June employment report showing weaker-than-expected job creation. Stocks rose on that data, which fueled hopes that the Fed would be less likely to hike rates. National Economic Council Director Kevin Hassett joined the program with White House reaction to the jobs numbers. The anchors asked him about OpenAI reportedly discussing a proposal to give the U.S. government a 5% stake in the company. Also in focus: Tesla Q2 deliveries beat forecasts, Microsoft&#x27;s new AI &quot;Frontier,&quot; what&#x27;s next for Meta one day after shares rallied on its push into cloud computing, new redemptions at Blue Owl. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

9AM Hour: NEC's Hassett on Jobs Report, OpenAI Government Stake Buzz, Tesla Delivers 7/2/26

Squawk on the Street

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[SPEAKER_D] Market insight and analysis.

[SPEAKER_C] You're listening to the opening bell of CNBC's Squawk on the Street.

[SPEAKER_A] Good Thursday morning.

[SPEAKER_D] Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, Post 9am Hour. The New York Stock Exchange. Faber has the morning off. Futures get a bit of a lift from a soft June jobs number. 57K is nearly half of the consensus. Private payrolls down for the third consecutive month, but the unemployment rate dips to 4.2. That's a one-year low. Oil inching closer to 67 this morning as China reportedly not really soaking up all that Iranian crude that's sitting idle in some Asian waters. Saudi exports also at a postwar high. Our roadmap begins with June jobs in below expectations. NEC Director Hassett will join us in a few moments with White House reaction. OpenAI reportedly trying to defuse growing political pressure in D.C., proposing to give the government a 5% stake in their company. And some new redemption numbers from Blue Owl just now as credit concerns continue to impact the alts.

9AM Hour: NEC's Hassett on Jobs Report, OpenAI Government Stake Buzz, Tesla Delivers 7/2/26

Read the full transcript

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

9AM Hour: NEC's Hassett on Jobs Report, OpenAI Government Stake Buzz, Tesla Delivers 7/2/26

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.