White House Plays Down Recession Fears, NFL Launches Streaming Service, China Risks 07/25/22

Carl Quintanilla and Jim Cramer began the hour by hitting the market action with stocks still on pace for their best month of the year. They also mentioned Treasury Secretary Janet Yellen telling NBC’s Meet the Press over the weekend that “this is not an economy that’s in recession.” The anchors then shifted their focus to the NFL, launching its own streaming service NFL+, which starts a $4.99 per month. Staying with media, they also mentioned SNAP getting double downgraded at Morgan Stanley from “overweight” to “underweight” with an $8 price target following last week’s dismal earnings report. Also in focus: Goldman Sachs cut its earnings outlook for the MSCI China stock index to zero growth for the year.