Stocks Slump on Fitch U.S. Downgrade and ADP Jobs Report, AMD CEO on Earnings and AI 8/2/23
b"Carl Quintanilla and Jim Cramer led off the show with a look at markets under pressure after Fitch downgraded the U.S. government credit rating\\xa0from AAA to AA+. Was the cut justified? Fed rate hike fears also weighed on investor sentiment: ADP reported a\\xa0much bigger-than-expected surge in private sector job creation for July. On the earnings front, AMD CEO Lisa Su \\u2018joined the program to discuss the chipmaker's Q2 beat and AI strategy. The anchors reacted to quarterly results from the likes of Starbucks, DuPont and CVS Health. Also in focus: Tupperware's meme stock rally gives back some gains, Ford July U.S. auto sales, Apple ahead of Thursday's after-the-bell earnings, studios and striking Hollywood writers to restart talks.\\n\\n\\n\\nSquawk on the Street Disclaimer"