Retail Sales Blowout Sparks Market Rally, Walmart Surges, Cisco CEO on Job Cuts, Earnings and AI 8/15/24

With the broader markets aiming for a 6-day win streak, Carl Quintanilla, Jim Cramer and David Faber discussed stocks in rally mode thanks to a number of catalysts: July retail sales blew past expectations with a 1% gain, Walmart shares jumped on a Q2 earnings beat and raised guidance, while weekly jobless claims came in below forecasts. Cisco was among the biggest gainers. CEO Chuck Robbins joined the anchors at Post 9 to discuss the company's plan to cut 7% of its global workforce as part of a restructuring, what drove its better-than-expected Q4 results -- and how Cisco plans to capitalize on the AI boom. Also in focus: Alibaba's miss and the cautious Chinese consumer, the “Warren Buffett effect” on Ulta Beauty. Squawk on the Street Disclaimer