AI-Made Viruses, A July Jobs Report, & Meta’s Child Harms Case 8/7/26

**SPEAKER_1** (0:00)
This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information-packed daily market preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions, and key results and statistics that may impact your trading. Download the latest episode and subscribe at schwab.com/marketupdatepodcast, or find Schwab Market Update wherever you get your podcasts.

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**Greg Casar** (0:34)
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**SPEAKER_7** (0:59)
Bring in show music, please.

**Katie Kramer** (1:03)
Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, can we blame AI for everything? The US economy unexpectedly lost 23,000 jobs in July with a labor participation rate the lowest in five years.

**Rick Santelli** (1:18)
Buckle up on this one, minus, minus 23,000 on non-farm payrolls. I can hear the bond yields falling right now.

**Katie Kramer** (1:30)
Taxing AI companies that cut jobs to create a new era works progress administration. Congressman Greg Casar of Texas joins us.

**Greg Casar** (1:38)
I'm not talking about just stopping all of AI in its tracks. I'm saying we should lead an AI, but that doesn't mean we have to be in a country with large amounts of unemployment.

**Katie Kramer** (1:50)
And AI created viruses. Haven't we been through enough? A new study on just how willing artificial intelligence is to create biological weapons, MIT scientist Kevin Esvelt.

**Kevin Esvelt** (2:02)
There is no reason to think that future researchers cannot and will not attempt the same thing for viruses that infect other organisms. Probably not humans at first. That would be too obvious.

**Katie Kramer** (2:13)
Plus the rest of today's news, the clogged Strait of Hormuz, Airbnb's rise and OpenAI's new smart speaker will be shaped like a doughnut?

**Joe Kernen** (2:23)
Spherical, a color, a twist, a long jaw, a bear claw, novelty shapes like hearts, stars, seasonal outlines.

**Katie Kramer** (2:33)
It's Friday, August 7th, 2026 Squawk Pod begins right now.

**SPEAKER_11** (2:39)
Stand by Joe in 3, 2, 1, his mic, cue.

**Joe Kernen** (2:45)
Good morning and welcome to Squawk Box here on CNBC, live from the NASDAQ market site in Times Square. I can't help it. I can try to not smile, but it's impossible. I'm Joe Kernen, along with Melissa Lee.
And of course, Becky and Andrew are off today. Why does that happen?

**Melissa Lee** (3:02)
What? When certain people are gone, you're smiling?

**Joe Kernen** (3:05)
Well, now you're actually on this. No. I was doing it in a positive way, because you're here.

**Melissa Lee** (3:12)
Thank you.

**Joe Kernen** (3:12)
You know that.

**Melissa Lee** (3:13)
I'm happy to be here.

**Joe Kernen** (3:14)
I think it is it years of this that we've shared together? Is that what it is?

**Melissa Lee** (3:18)
It feels like it.

**Joe Kernen** (3:22)
And I was talking about you, you have people on all the time, on your multiple shows. Not all of them. At the beginning of the year, we're at 7,700 or 7,800 or 8,000.
Somewhere in the sixes. A lot of them, my favorites, because they're sell side people, they really aren't able to make very good calls and they don't even try.

**Melissa Lee** (3:45)
What was your call at the beginning of the year? A lot has changed during the year that nobody could have guessed in January or February.

**Joe Kernen** (3:52)
Luckily, we just get to second guess other people.

**Melissa Lee** (3:54)
Exactly.

**Joe Kernen** (3:55)
Which is good. However, I don't know if I would just wear the market clothes and say that's my target until the SP goes up 100 and then I raise my target 100

**Melissa Lee** (4:07)
My point is you have to feel for these people.

**Joe Kernen** (4:09)
They make money. They tell their poor retail sales force that they pretend they actually know something. They don't.

**Melissa Lee** (4:14)
It's a no-win job.

**Joe Kernen** (4:17)
You know who you does know are buy side people because they look right at what they have and they go, oh God, why did I buy that? They know they bought it a year and a half ago. They know they bought something, some of your traders, I think.