The Reopening Trade and the Delta Variant Effect, "Three-Day Corrections," Southwest Airlines CEO on Quarterly Results and Travel Demand, Dow CEO on Earnings and Supply Constraints, Musk Pulls for "Bitcoin to Succeed," and President Biden's Tech Perspecti

Squawk on the Street

Jim Cramer and Scott Wapner explored the recent market moves, the concept of the "three-day correction" and why in Jim's view, the S&P 500 is "done being slammed." Cramer also shared his perspective on the market coming to grips with the spread of the Delta Variant and the slowdown in COVID vaccinations, saying that unlike the herd immunity achieved following the pandemic of 1918-19, "we're going to have a brutal form of herd immunity and it's going to happen, as Dr. (Scott) Gottlieb said, in the next few months." The reopening trade in focus as airline stocks fall despite news of stronger-than-expected quarterly revenue from Southwest and American Airlines. Southwest Chairman & CEO Gary Kelly appeared on the program to discuss his company's quarter, the rebound in travel demand and navigating a labor shortage. The anchors also interviewed Dow CEO Jim Fitterling: The Dow component posting better-than-expected quarterly results and issuing upbeat guidance as it sees global economies improving in the second half of 2021. Also in focus: Elon Musk telling a crypto conference that he "would like to see Bitcoin succeed" and that Tesla would "most likely" accept Bitcoin for vehicle payments, Salesforce CEO Marc Benioff's comments to CNBC in reaction to what President Biden is saying about the tech industry, the road ahead for FAANG + Microsoft, the recent run-up in stay-at-home stocks, China reportedly weighing serious penalties for Didi just three weeks after its U.S. public debut, chip stocks and why Jim slammed Texas Instruments' handling of its earnings call as "ill-advised," and Goldman Sachs slaps Williams-Sonoma with a "sell" rating.