Squawk on the Street
Commerce Secretary Reacts to the Jobs Report, Omicron and the Volatile Market Week, the FTC Sues to Block Nvidia-Arm Deal, DocuSign Plunges and Its CEO Says “We Weren’t Executing.”
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Show notes
Wrapping up a volatile week for stocks, Carl Quintanilla, Jim Cramer and David Faber discussed market reaction to the November jobs report, which showed non-farm payrolls up by a lower-than-expected 210,000 but the unemployment rate fell and the labor participation rate edged higher. The anchors interviewed Commerce Secretary Gina Raimondo about White House reaction to the jobs report and President Biden’s strategy for battling the COVID-19 omicron variant. Chip sector news also in the spotlight: The Federal Trade Commission said it is suing to block Nvidia’s planned $40B deal to acquire chip designer Arm from Softbank, while shares of Marvell Technology soared on quarterly results. On the flip side, stay-at-home stock darling DocuSign plunged more than 30-percent on a Q3 loss and weaker-than-expected guidance. The anchors reacted to this mea culpa from CEO Dan Springer: “We weren’t ready. We weren’t executing.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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