Squawk on the Street
Markets Extend Post-Fed Sell-off, Qualcomm Drags Chips Lower and Roku's Holiday Outlook Slams the Stock. 11/3/22
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Show notes
Carl Quintanilla, Jim Cramer and David Faber focused on an extended sell-off for the stock market one day after another 75-basis point rate increase by the Federal Reserve. The anchors reacted to Fed Chair Jerome Powell's comment that there are no plans to pause rate hikes anytime soon. Qualcomm leading the chip sector lower as guidance overshadows a fiscal Q4 beat. Carl, Jim and David also discussed names that were once pandemic era darlings: shares of Roku and Peloton slammed in reaction to weaker-than-expected holiday quarter guidance. Also in focus: The earnings parade including Etsy's surge and travel stocks, Robinhood's results beat estimates but its CEO acknowledges the stock's weak performance this year, plus a "Faber Report" on why Altice shares are getting crushed.
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