Pres. Trump Speaks to CNBC, Palantir's AI Boom, Caterpillar’s Earnings Miss 8/5/25

SPEAKER_1 (0:01)

Want to quickly create and execute trading strategies to help keep up with the markets? With Fidelity Trading Dashboard, you can access live data, advanced charting, portfolio insights, and automated alerts, all on one screen. We streamlined the trading experience so you can build and place trades better. Your Fidelity Trading Dashboard is ready now for free. Visit fidelity.com/tradingdashboard.

Investing involves risk, including risk of loss. Fidelity Brokerage Services LLC, member NYSE SIPC.

SPEAKER_2 (0:31)

On WhatsApp, your personal messages stay private between you and whoever you send them to. So things like the passport numbers for your honeymoon stay between you and your fiancé, and that video call for your grand's 80th stays in the family. Even your streaming password stays between you and your college roommates, who still ask for it every week in your group chat. Because on WhatsApp, your personal messages are yours. No one else can see or hear them, not even us. WhatsApp, message privately.

Jim Cramer (1:02)

It's Jim Cramer here. You're listening to the opening bell of CNBC's Squawk on the Street. Don't miss a minute of the action.

Donald Trump (1:10)

I think when somebody says the commissioner is not involved, I don't want to get into any arguments with anybody. Why should I?

Because I'm a guy, she's a very nice woman. But when they say that nobody was involved, that it wasn't political, give me a break. It's a highly political situation. It's totally rigged. Smart people know it. People with common sense know it. And a lot of people like to keep their head under the covers.

David Faber (1:37)

That was President Trump in the last hour, of course, here on CNBC, sounding off about the jobs data, his firing of the BLS chief. Good Tuesday morning. Welcome to Squawk on the Street. I'm David Faber. That's Jim Cramer. We're live from Post 9th at the New York Stock Exchange. Carl has the morning off. Let's give you a look at futures as we get ready to start trading on this Tuesday. You can see we are looking for what very modestly higher open this morning, Jim. Let's start with the president's appearance on CNBC in the last hour. I mean, again, you and I discussed this yesterday. He continues to say that, use the words, rigged.

It's political. There's nothing at all that seems to back up that contention. Plenty of people who certainly say the methods by which we collect the data, you included amongst those, needs to change. But no one that I'm aware of who said that they believe in any way these numbers are rigged. That said, the market yesterday did not react at all to this firing in the way that perhaps some might have believed it would in the sense of undermining the data in the future.

Jim Cramer (2:47)

Right. I mean, look, I think that the market looked at the numbers and said, wow, things have slowed. So interest rates went lower. The quarters have been extraordinary. Look, it comes down, I mean, I know, look, we're the business network. And it comes down to the companies. There's a lot of companies that reported. The vast majority of the companies were good.

People buy stocks because of growth, as was here for Palantir. They don't buy it because of Trump. They don't buy it because of labor. They don't buy it because of commerce. They don't buy it because of unemployment. They buy it because the companies are doing well. Okay? And as long as the companies are doing well and we don't have bad unemployment, stocks go higher. Now, if we want to convert everything and decide what matters is what that man says and whether what he says matters for what, we do, I can't help you make money. It's an interesting discussion. I have it at home, but that's all you're ever going to hear about from me. I say I have it at home. I was brought up not to talk about this. I'm not going to start talking about it now. But what I'm going to try to do is make money for people. And when I come back and I say, look, interest rates are low, go buy Home Depot.

David Faber (3:59)

Interest rates aren't that low right now. Wait, interest rates are going lower.

Jim Cramer (4:03)

Right. But I'm just saying, I can't help you in the other stuff. I can't say, you know what? I think he's a liar about this or Texas is the... I can't, because I don't do that. My goal is to try to make people money. I'm completely devoid of the view about whether the Labor Department rigged it. All I know is that the economy is slowing.