Squawk on the Street
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Cramer's Back, Tech's "Remarkable Staying Power," PayPal's Japanese "Buy Now, Pay Later" Deal , Coinbase vs. SEC, Apple from Record Highs to Ford's Poaching, the Bitcoin "Flash Crash" and BlackRock Fires Back at George Soros

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Carl Quintanilla, Jim Cramer and David Faber led off the show by discussing Jim's first take on the market since his return from vacation. He said "the remarkable staying power of technology has kept this market afloat" in the face of inflation fears, the COVID-19 Delta variant outbreak, Fed taper talk and worries about a growth slowdown. Cramer explained why he believes big tech will retain its leadership role. Speaking of tech, the anchors discussed PayPal's $2.7-billion deal for Japan's Paidy and what it could mean for the payments landscape as the "buy now, pay later" market heats up. Coinbase shares falling after the largest crypto exchange in the U.S. said the SEC is threatening to sue the company over its planned "Lend" product that would allow users to earn interest by lending crypto assets. The anchors reacted to how Coinbase CEO Brian Armstrong responded on Twitter to the SEC's Wells notice and defended his company's product. Lots of news regarding Apple: The stock entering Wednesday's session at record highs on the heels of the company announcing a product launch event slated for September 14, Morgan Stanley's Katy Huberty out with a note on Apple saying the recent App Store headlines have more bark than bite, and Ford announcing it has hired away Doug Field from apple to lead the automaker's emerging technology efforts. Field had been working on Apple's secret car project. Also in focus: The move in Bitcoin after Tuesday's brief 17-percent drop, China-based stocks and the latest on Beijing's crackdown, BlackRock responds to billionaire investor George Soros' criticism of its China investments, and Dallas Fed President Robert Kaplan reportedly made multiple stock trades of a million dollars or more last year.

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