The GOP’s Future, Apple Sues OpenAI, & the Musk-Altman Feud 7/13/26

**SPEAKER_1** (0:00)
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**SPEAKER_2** (0:27)
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.

**Joe Kernen** (0:57)
Bring in show music, please.

**Katie Kramer** (1:00)
Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, the shocking death of a US. Senator greets Washington as it returns from a holiday recess to a week full of confirmation hearings, potential legislation, oh, and remember those midterm elections. Former Republican Congressman Patrick McHenry walks us through all of it.

**Patrick McHenry** (1:20)
Vote for the craziest person in the Democratic primary in order to go fight President Trump. That's the current midterm message.

**Katie Kramer** (1:27)
Then California versus a legacy studio. Paramount weighs leaving the Golden State. Semafor reporter Rohan Goswami has the story.

**Rohan Goswami** (1:35)
Paramount has offered to increase their spending up to $30 billion. That's more than Netflix, that's more than Disney. Those dollars aren't currently flowing into LA.

**Katie Kramer** (1:43)
About the rift over the Warner Bros. merger with the state's attorney general.

**Rohan Goswami** (1:48)
Rob Bonta is a person who doesn't know what he wants here, but knows he needs to want something.

**Katie Kramer** (1:54)
Plus the rest of today's news that got us squawking, like the fight of the billionaires, Elon Musk taking aim at Sam Altman.

**Joe Kernen** (2:01)
Homey, I think, and home slice. And for you, I might be home girl. Okay.

**Katie Kramer** (2:07)
It is Monday, July 13th, 2026 Squawk Pod begins right now.
Stand Becky by in three, two, one, cue, please.

**Becky Quick** (2:18)
Good morning, everyone. Welcome to Squawk Box right here on CNBC. We are live from the NASDAQ market site in Times Square. I'm Becky Quick, along with Joe Kernen and Andrew Ross Sorkin.

**Andrew Ross Sorkin** (2:29)
Tributes coming in for South Carolina Republican Senator Lindsey Graham, who died suddenly over the weekend, and Emily Wilkins joins us this morning with more. Good morning.

**Emily Wilkins** (2:38)
Morning, Andrew. Well, yeah, Washington and South Carolina, both grappling with the death of Senator Lindsey Graham. He leaves behind a tremendous legacy in Washington as a foreign policy hawk, who was able to work with President Trump even on issues where the two disagreed. Trump told Meet the Press that he spoke to Graham on Saturday evening, and he praised the lawmaker who once ran against him in the presidential.

**SPEAKER_10** (3:02)
He had a unique ability. He was able to deal with Democrats and Republicans. If I had a problem, a real problem, I wouldn't often ask.

**SPEAKER_2** (3:10)
But if I had a problem with a Democrat, he could work it out.

**SPEAKER_10** (3:15)
He was a great politician.

**Emily Wilkins** (3:17)
Graham's passing means that South Carolina Republicans will need to replace him on the ballot for this November. That election will be held on August 11th. Congresswoman Nancy Mace is seriously considering a run. Other potential candidates include Lieutenant Governor Pamela Yvette and Congressman Ralph Norman. Now, in the meantime, South Carolina Governor Henry McMaster will need to appoint someone to temporarily fill that seat. On Capitol Hill, Graham's passing has led to calls from Democrats to pass a package of Russia sanctions that Graham was influential in shaping. Graham is also, of course, a key senator on the Judiciary Committee, and they are set to begin considering Todd Blanch to become attorney general this week. So we'll have to keep a very close eye, of course, on how Graham's passing does influence that agenda, as well, of course, Mitch McConnell coming out with a statement saying that he is able to continue his duties. He has been in the hospital for the last couple of weeks, but he's not going to be able to return to DC just yet. Guys?

**Andrew Ross Sorkin** (4:18)
OK, Emily, thank you for that report. Appreciate it.

**Becky Quick** (4:23)
Chairs of memory chip giant SK Hynix, they posted their worst day ever in South Korea. That was along with a big decline from Samsung that helped drag Korea's KOSPI index down by close to 9 percent. You can see SK Hynix shares off by more than 15 percent, with Samsung Electronics down by more than 10 percent. SK Hynix's newly listed US shares are also down in the pre-market, here by about 8.1 percent. Profit-taking and uncertainty over how the shares should be valued are being eyed as potential reasons for the stock's global sell-off today.