Squawk on the Street
Markets and the China Surprise, Unity Rejects AppLovin, and Job Cuts at Peloton and Best Buy 8/15/22
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Show notes
Jim Cramer and David Faber led off the show with market concerns surrounding slowing growth in China.
The country's central bank unexpectedly cut two key interest rates in wake of weaker-than-expected economic data.
Crude prices and energy stocks were hit hardest by the news. The anchors explored how investors should
play the energy sector. Also in focus: Unity Software reaffirms its merger deal with ironSource and rejects AppLovin's
unsolicited takeover bid, Peloton and Best Buy announce planned job cuts amid lower consumer demand,
Tesla's stock rebound accelerates, and record profits for oil giant Saudi Aramco. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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