Biden Drops Out Of 2024 Race, Stocks Seek Bounce, IT Outage Fallout 7/22/24

Carl Quintanilla and Jim Cramer began the hour by breaking down what President Biden’s decision to drop out of the 2024 race means for the markets, and why Cramer believes a Kamala Harris win could benefit mega-cap tech stocks. Eamon Javers also joined the conversation to discuss how Kamala Harris’ policies compare to Pres. Biden’s. The anchors also discussed CrowdStrike; shares of the cybersecurity company extended its drop following Friday’s 11% decline, with at least 2 Wall Street firms downgrading the stock this morning. After the opening bells, the desk also hit Elliott’s big stake in Starbucks and Verizon’s latest earnings. Squawk on the Street Disclaimer

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The opening hour of CNBC’s “Squawk on the Street” with Carl Quintanilla, Jim Cramer and David Faber is broadcast from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential Chief Executive Officers and greatest market minds.