Stocks opening lower as the street works through the President’s new threat of 30% tariffs on Mexico and the EU: Carl Quintanilla and Sara Eisen discussed the latest for stocks and global trade with Citi’s U.S. Equity Strategist Scott Chronert (who says the S&P’s rally has legs here) along with Rockefeller International Chairman Ruchir Sharma, who’s pointing to a rare winner abroad. Market movers today across a myriad of industries: hear more on what’s driving the rally in Bitcoin prices… the set-up for the banks into earnings this week… and why the street’s getting bullish on Fastenal.

Also in focus: where to put your money to work in the autos with one analyst who calls Tesla an easy buy here – despite the release of a key competitor in China (with a live read from Beijing this hour) and more headlines around possible xAI investments

Carl Quintanilla and Jim Cramer kicked off a new week with market reaction to President Trump threatening Mexico and the EU with 30% tariffs beginning August 1. The anchors also discussed the president ramping up his criticism of Fed Chair Powell for not cutting interest rates and saying Powell should quit. Also in focus: Bitcoin's new record high and "Crypto Week" on Capitol Hill, Jim's CNBC Investing Club Annual Meeting message on bullishness, Elon Musk says Tesla and xAI should not merge, Nvidia and what's weighing on chip stocks, Waters and Becton Dickinson shares fall in reaction to their $17.5 billion merger agreement

Squawk on the Street Disclaimer

Carl Quintanilla, Contessa Brewer, and David Faber started the show with a look at stocks retreating from record highs, after President Trump announced a 35% tariff on Canada and threatened higher tariffs across the board. The anchors later brought on CNBC’s Julia Boorstin from Sun Valley, Idaho to discuss what the country’s biggest names in media and tech are saying about the impact of AI to the entertainment industry. Also in the mix; the desk discussed the fallout for Starbucks and Dutch Bros. following the 50% tariff threat to Brazil, America’s largest trade partner for coffee imports.