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Markets and the China Surprise, Unity Rejects AppLovin, and Job Cuts at Peloton and Best Buy 8/15/22

Markets and the China Surprise, Unity Rejects AppLovin, and Job Cuts at Peloton and Best Buy 8/15/22

Jim Cramer and David Faber led off the show with market concerns surrounding slowing growth in China. The country's central bank unexpectedly cut two key interest rates in wake of weaker-than-expected economic data. Crude prices and energy stocks were hit hardest by the news. The anchors explored how investors should play the energy sector. Also in focus: Unity Software reaffirms its merger deal with ironSource and rejects AppLovin's unsolicited takeover bid, Peloton and Best Buy announce planned job cuts amid lower consumer demand, Tesla's stock rebound accelerates, and record profits for oil giant Saudi Aramco.

Squawk on the Street

August 15, 202243m 24s

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Show Notes

Jim Cramer and David Faber led off the show with market concerns surrounding slowing growth in China. The country's central bank unexpectedly cut two key interest rates in wake of weaker-than-expected economic data. Crude prices and energy stocks were hit hardest by the news. The anchors explored how investors should play the energy sector. Also in focus: Unity Software reaffirms its merger deal with ironSource and rejects AppLovin's unsolicited takeover bid, Peloton and Best Buy announce planned job cuts amid lower consumer demand, Tesla's stock rebound accelerates, and record profits for oil giant Saudi Aramco. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
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