A Chip Sell-Off, Netflix’s Report, & President Xi’s AI Pitch 7/17/26

Netflix shares are under pressure after its quarterly earnings forecast disappointed investors, and chip stocks are down amid concern about AI investment. JPMorgan Asset Management global market strategist Hugh Gimber explains why the pressure on chip and memory stocks might continue until hyperscaler companies report their own earnings in a few weeks. In Shanghai, CNBC’s Eunice Yoon reports on President Xi’s latest remarks pitching China to the global community as a leading partner in AI. President Trump has delivered his own remarks on China stateside, and LeBron James isn’t ready to announce his next move in the NBA. Plus, CNBC’s Diana Olick and Steve Liesman break down the latest housing data, what it means for the Federal Reserve, and what it tells Americans about affordability in this country. Eunice Yoon - 7:59 Hugh Gimber - 17:53 Diana Olick & Steve Liesman 25:13 In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY