Squawk on the Street
Mixed Picture for Stocks, Nasdaq Record High, Retail Woes, TikTok Distancing from China?
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Show notes
The “Squawk on the Street” team discusses the mixed picture for stocks, but the Nasdaq continues its rise hitting a fresh record high. U.S. initial unemployment claims edging down in the latest week, better than expected at 1.3 million. More pain for retailers, as Bed Bath & Beyond announces it’s closing 200 stores over 2 years as its sales fall almost 50% during the pandemic. Plus, Sur La Table files for bankruptcy protection and Pier 1 is becoming a web-only business. A report says that TikTok is considering changes in order to distance itself from its Chinese roots. Senior executives are said to be discussing options such as creating a new management board or establishing a new headquarters for the app outside of China.
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