Welcome to squawk on the street. Im Carl Quintanilla, david faber, jim cramer at the new york stock exchange. Get to wells in a moment. Premarket weak on the back of disappointing chinese trade data, renewing concerns about global growth. Europe down more than 1 . Yields here falling back to 1. 75. And oil still fighting it out just above 50. John stumpf said departure comes amid that scandal thats engulfed wells fargo. Tim sloan is now the new ceo. Sanger will be nonexecutive chairman. Jim, happened suddenly, tensely worded press release. Your thoughts after seeing that tape. Well, first, when i asked stumpf whether he would resign, that was regarded at that moment as a radical question. Almost idiotic. People said what are you kidding me . Jumping to conclusion. And i just felt that the way went through the crisis the crisis is a very simple lesson. You lose your job whether you know about what happened underneath or you dont. Now, you can say jamie dimon didnt lose his job, very dif
Time to buy. The action begins right now. Lets get right to it. If you thought it was bad for retail this week, the real test comes next week. Thats because big box names will report. Dan, whats your take . Listen, this is the main event. We saw all these Department Stores, apparel guys, and for the most part the small market caps relative to next week. To me, i actually think you have the potential to see outliers here. A lot of the space has actually sold off in same p think. Weve been talking about it on the show, the srt, s p. I think it got as low as 41 today. Thats a big move in a couple of weeks. When you think about the events next week, some of the bad news may be in the stock. But i think obviously this is an options program, well talk about ways to define your risk and play what may be a continuation of the trend. And mike, arguably some of these names were from the beginning thought to be the stronger of the retail group. Definitely thats true. First of all, amongst the ret
Lets get right to it. If you thought it was bad for retail this week, the real test comes next week. Thats because big box names will report. Will they go the way of the Department Stores . Dan, whats your take . Listen, this is the main event. We saw all these Department Stores, apparel guys, and for the most part the small market caps relative to next week. To me, i actually think you have the potential to see outliers here. A lot of the space has actually sold off in same p think. Weve been talking about it on the show, the srt, s p. Retail etf got as low as 41 today. Thats a big move in a couple of weeks. When you think about the events next week, some of the bad news may be in the stock. But i think obviously this is an options program, well talk about ways to define your risk and play what may be a continuation of the trend. And mike, arguably some of these names were from the beginning thought to be the stronger of the retail group. Definitely thats true. First of all, amongst t
The action begins right now. Lets get right to it. If you thought it was bad for retail this week, the real test comes next week. Thats because big box names like home depot, lowes, target will report. Dan, whats your take . Listen, this is the main event. We saw all these Department Stores, apparel guys, and for the most part the small market caps relative to next week. To me, i actually think you have the potential to see outliers here. A lot of the space has actually sold off in sympathy. Weve been talking about it on the show, the srt, s p. I think it got as low as 41 today. Thats a big move in a couple of weeks. When you think about the events next week, some of the bad news may be in the stock. But i think obviously this is an options program, well talk about ways to define your risk and play what may be a continuation of the trend. And mike, arguably some of these names were from the beginning thought to be the stronger of the retail group. Definitely thats true. First of all, a
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