9AM Hour: SanDisk CEO, SpaceX Climb Continues, Bond Market Signals 8/14/26

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The board recommends approving...

**Carl Quintanilla** (0:01)
Regarding that seat on the committee, we're promoting...

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to most quarterly earnings...

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Market insight and analysis. You're listening to the opening bell of CNBC's Squawk on the Street.

**Carl Quintanilla** (0:57)
Good Friday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with David Faber. Morgan Brennan is with us at Post 9 at the New York Stock Exchange. Cramer has the morning off. Futures mixed as the bulls win for a third straight week here, coming off all-time highs yesterday. Retail sales were ugly, down 6 tenths, the biggest drop in more than a year. Even so, long-term yields are not dropping on this tough week for bonds. Oil steady, retail gas continues to tick higher, now averaging 408 a gallon. Our roadmap begins with this record rally, though. S&P notching its 27th all-time closing high of the year, on track for another winning week.

**Morgan Brennan** (1:31)
Plus, data storage and memory stocks, SanDisk, Seagate Technology and Micron continue to fly higher. They're all at double digits this week alone. The CEO of SanDisk will join us in just a few minutes.

**David Faber** (1:43)
And we're keeping an eye on shows of Workday. They're coming off what was the best day they've had in 10 years. This on reports from Reuters yesterday that the private equity firm of Silverlake is in talks to potentially buy that software company.

**Carl Quintanilla** (1:57)
Let's get right to the markets this morning. S&P is coming off another record close. Investors watching the bond market as well. US did sell 30-year bonds at the highest borrowing costs in about 25 years. Demand was pretty good. But again, David, kind of a revamp of our conversation with Jim at this time yesterday. Short ends dropping on weaker data again, but the long end is being supported by a national debt number that's probably going to hit 40 trillion in the next couple of weeks.

**David Faber** (2:24)
Yeah, we're very close to 40 trillion. I know I thought it was interesting, as I said at the time, I can't remember too many days that we started our show as we did yesterday with a five-minute discussion around long-term rates and that auction. But it ended up, Morgan, being an important moment. As Carl just said, obviously, we're borrowing at rates we haven't done so in a very long time, sitting there stubbornly high.
I guess continued concern as well about whether the Japanese might have to sell at some point because they're simply unable to continue to support the yen, even with the intervention of the US.

**Morgan Brennan** (2:57)
I was literally just going to go there because you have to watch Dollar Yen and what's going on there because the yen has weakened this week again against the dollar.
You also had, speaking of, because it is a global phenomenon in terms of what you're seeing at the longer end, JGB's 30-year treasury, treasury, 30-year yields in Japan also hit a record high earlier this week. And you take a walk around the world and look at other developed economies, it is a similar situation. And case in point, a lot of it is focused on what we're seeing fiscally, what we're seeing in terms of sticky inflation, things along those lines. And even so, you got an S&P 500 that's sitting at a record high right now. So at least in the equity markets, investors seem to be shrugging this off.

**Carl Quintanilla** (3:33)
Yeah, looking for inflation hedges all over the place in assets, whether that's gold or equities.
Gold miners, by the way, as we take a look at some of those sectors that are bouncing back, back above the 200 day, sort of reclaiming some leadership. But yeah, you're right about tech. I mean, what do we get spent? We were just going through some of the major prints of the week. Cisco, AMAT, CoreWeave, SanDisk, of course, and the Investor Day. I mean, SEMIs are having their best August since 3