Walmart Cuts Jobs, Lucid Hits the Brakes, Baba Beats 8/4/22

Carl Quintanilla and Jim Cramer started the show discussing the markets as Goldman Sachs published a new note warning investors of a potential move lower. They then shifted to the country’s largest employer, Walmart, announcing some job cuts after slashing its profit outlook just about a week ago. It was also another busy day for earnings, with names like Alibaba, Clorox and Paramount all on the move. The anchors also hit Coinbase, which announced a new partnership with Blackrock that will allow its institutional clients to buy bitcoin. Also in the mix: EV maker Lucid Motors dropped double digits at the open after cutting its production targets again amid logistic challenges.