10AM Hour: The Street Initiates SpaceX, Trump in Turkey for NATO Summit, Samsung Sparks Chip Stock Sell-off 7/7/26

SPEAKER_1 (0:00)

The board recommends approving...

SPEAKER_2 (0:01)

Regarding that seat on the committee, we're promoting......to most quarterly earnings...

SPEAKER_3 (0:04)

Every day, shareholders meet to discuss important matters about the companies you invest in. Now you can easily make your voice heard. Vanguard Investor Choice gives you a say in the companies you invest in. With just a few taps, you can set your proxy voting preference for your index funds. Visit vanguard.com/investorchoice to learn more. Vanguard Investors own shares of our index funds, which own shares of the companies they invest in. Available for Vanguard index funds that participate in Investor Choice, Vanguard Marketing Corporation Distributor.

SPEAKER_4 (0:30)

Is your business achieving its current strategic goals? Are operations as tight as they should be? Are finances in a realistic place for expansion? These are questions investors ask. That's why EY Parthenon brings an investor mindset to help executives reinvent business models for long-term growth. Reset strategic goals, optimize operations and get finances in order. Let us help you reimagine your enterprise. EY Parthenon.

Solutions that work in practice.

Not just on paper.

Carl Quintanilla (1:00)

Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with David Faber, Leslie Picker here at Post 9 of the New York Stock Exchange. Sara Eisen's off today. President arrives at the NATO Summit in Turkey this morning. We're going to talk with Eurasia Group's Ian Bremmer about what's at stake. SpaceX under some pressure as it officially joins the NASDAQ 100 Longtime analyst Craig Moffett just initiated and joins us first with his recommendation for investors. And the White House holding a Quantum Innovation Summit today. We're going to talk to the CEO of Inflection, which does count the government among its investors.

Let's begin though with the NATO Summit. The president is in Turkey as the Iran War increases frictions between the US and some of its allies. Speaking of the Iran War, reports today indicated that Iran has reignited fire on commercial ships in the Strait of Hormuz. Joining us this morning first on CNBC, the president of the Eurasia Group, Ian Bremmer is with us. Ian, welcome back. Good to see you again. Good to see you.

I see the tape is already full of headlines about the president talking Greenland. Is this summit going to be about fresh progress or is it the greatest hits?

Ian Bremmer (2:03)

I think that we're looking back at G7 that Macron organized pretty well a couple weeks ago in Evian, France.

Not a lot of headlines, a little bit more coordination. I think that's what we're going to see here in the NATO Summit as well. Sure, Trump's going to take a couple of shots at some of the specific European allies that he thinks did not perform for him in terms of the Iran war. But he said some very nice things to Erdogan, who's hosting there in Ankara. He's buried the hatchet a little bit with Maloney already for Italy. He's clearly looking forward to a new UK leader saying that this is why Starrmer is out is because he was so weak on Iran. Not the case, but nonetheless.

I mean, look, the Europeans are spending more. The Ukrainians are actually doing a lot better. And Trump has shown that he's not as capable of disrupting the global order as perhaps he wanted to be either in the Middle East or on Russia, Ukraine or on China. So I think this NATO summit is going to be. Sure, we'll cover it. There'll be a lot of headlines. But I don't think it's going to move very much.

Carl Quintanilla (3:13)

I've seen some energy policy groups increase their odds of renewed escalation with Iran, given these attacks on commercial ships. Are you doing the same?

Craig Moffett (3:25)

No, no, we're not.

Ian Bremmer (3:26)

I think it's quite likely that there will be more hostilities between Israel and Hezbollah and Lebanon. And it's plausible that that could lead to more fighting between Israel and Iran itself. But look, the Americans are not pulling all of their military capabilities out of the region and the Iranians are not stopping 100% all of their firing on tankers going through. And we saw that just a few hours ago with the Saudi tanker that took some hits.

But that's leverage about how much money the Iranians are going to end up getting, how much influence they end up having over the Strait when the 60 days are up. Nobody wants to restart the war, least of all President Trump, who understands the economic implications of what an escalation would elicit. So, no, I think that following Trump's unilateral imposition of a ceasefire and understanding the blockade was costing the Americans more than it was getting the Americans, we see this as a more stable environment.