Stock Swings, Amazon and the NFL, ‘Buzz’ Launch, Square Acquires Majority of Jay-Z’s Streaming Service Tidal

Squawk on the Street

Carl Quintanilla, Jim Cramer and David Faber discuss the swing for stocks. Markets bouncing between gains and losses as investors digest a better-than-expected read on weekly jobless claims. The “Squawk on the Street” gang discusses the big movers of the morning including shares of GE gaining after Morgan Stanley raised its price target on the stock to a Street-high of $17 per share. Rocket Companies shares moving between gains and losses, following wide swings the past few days. The stock fell 33% yesterday after jumping 71% the day prior. An ETF honing in on the Reddit mania, ‘Buzz’ ETF, which tracks social media sentiment, launches. Plus, Carl, Jim and David discuss the future of streaming rights after reports that Amazon is in talks with the National Football League to carry a significant number of games exclusively on its Prime video service. The deal could see Amazon pay $1 billion for exclusive rights to most Thursday games. Plus, Square announces it’s acquiring a majority stake in Jay-Z’s streaming service tidal in a $297 million deal.