11AM Hour: Tech Stocks Sell Off, Tapestry CEO & Box CEO 11/5/26

OpenAI CFO Sarah Friar joins us exclusively from Pebble Beach to discuss demand for AI, the impact of the midterm elections, the company's plans to go public and much more. Then, Citi's Head of AI Research joins with his take on yesterday's massive tech sell-off. Plus, Former Minneapolis Fed President Gary Stern shares his reaction to this morning's jobs number.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.

Live at the Citi TMT leadership conference in Pebble Beach, Citigroup Chair and CEO Jane Fraser, on the AI market route, a potential slowdown in data centers and the impact of the midterms. Then PayPal CEO Enrique Lores, in his first interview since taking the job. Where the company is in the turnaround process. And after a historical move in the VIX, could the volatility index be flashing a buying opportunity? A look at the historical trends. And Goldman Sachs’ Chief Economist Jan Hatzius with his first reaction to the better-than-expected jobs report.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.

Carl Quintanilla, David Faber and Michael Santoli led off the show with stocks looking to rebound from their worst day in six years. Post-election jitters about the AI trade wiped out $2.5 trillion in market value on Thursday. Bargain hunters stepped in to buy beaten-down semis and necloud names. National Economic Council Director Kevin Hassett joined the program to discuss the stronger-than-expected jobs report — and offered reaction to President Trump blaming Democrats for the market sell-off. Jim Cramer made a surprise appearance at Post 9 before hosting the CNBC Investing Club annual meeting. Hear what he thinks investors should make of the AI rout. Also in focus: Reaction to Texas Governor-Elect Gina Hinojosa's comments on data centers; Anthropic update; Hedge funds' pain; SpaceX vs. Tesla; Airbnb rallies on earnings.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.

We cover today's massive sell-off in the tech sector with insight from Janus Henderson's Richard Clode, One Point BFG Wealth Partners' Peter Boockvar and Cantor Fitzgerald's Eric Johnston. Then, Tapestry CEO Joanne Crevoiserat joins to break down the Coach parent company's latest earnings as the stock rallies today. Plus, Box CEO Aaron Levie discusses the company's expanded partnership with Nvidia.000 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks reverse post-midterm gains with tech leading the declines. A number of chip stocks falling double digits, with prominent ETFs for the sector having their worst day since March 2020. Arm Holding CEO Rene Haas reacting to the impact of an anti-data center backlash and what it means for business. Plus Allianz’s Mohamed El-Erian and Apollo’s Torsten Slok help break down how investors should be playing the sell-off. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

One day after the Dow surged more than 1,500 points in reaction to the midterm election results, Carl Quintanilla, Jim Cramer and David Faber explored what to make of the Nasdaq in sell-off mode. Chip stocks including Nvidia, AMD and Qualcomm extended Wednesday's losses on worries Democratic control of congress could slow the AI buildout and construction of data centers. Speaking of AI, Arm CEO Rene Haas joined the program to talk about the chip designer's better-than-expected quarterly results. The anchors reacted to what Meta President Dina Powell McCormick told a tech conference about the data center backlash in wake of the midterms. Also in focus: Vice President Vance's election post-mortem and oil prices; "Faber Report" on a Liberty Media deal; Cramer previews Friday's CNBC Investing Club Annual Meeting. 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.

Cramer calls this home improvement retailer ‘the No. 1 stock’. Become an Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks every day as they talk candidly about the market’s biggest headlines, analyst calls and holdings in the Charitable Trust – and see up close how they decide when, and if, to take action on stocks. Sign up here:  cnbc.com/morningtake CNBC Investing Club Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We break down the impact of the midterm elections on tech, banks and the health care space. Then, Circle CEO Jeremy Allaire joins us to discuss the company's latest earnings, the impact of the recent Binance heist and more. Plus, we break down why CVS is splitting into two separate companies.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.

Stocks surge after a dramatic overnight reversal following Democrats’ decisive midterm election victory. Thoma Bravo founder Orlando Bravo joins Squawk on the Street to discuss what the shift in power means for the tech trade, while one policy expert warns the election results could bring a return to market volatility rather than a clearing event. Plus, we examine the implications for healthcare and financial stocks, and AMD CEO Lisa Su weighs in on the demand outlook following major Democratic wins in Texas. A key state for data centers.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.

Carl Quintanilla, Jim Cramer and David Faber discussed the big rally in stocks after Tuesday night's midterm election results: Democrats flipped the House and Senate, as well as gubernatorial seats in states including Texas. The anchors explored what the changing balance of power could mean for the AI trade — as SpaceX, Tesla and neocloud names such as CoreWeave fell sharply. In a "First on CNBC" interview, AMD CEO Lisa Su spoke about everything from the chipmaker's quarterly beat to the future for AI in light of the Dems' victory in the midterms. CVS Health Chairman & CEO David Joyner joined the program exclusively at Post 9 to talk about the healthcare giant's plan to split into two publicly-traded companies. Also in focus: Elon Musk's X post on the midterms; Reaction to earnings from the likes of McDonald's and Uber.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.