5 Things to Know Before the Opening Bell 7/14/2025

0:01I'm Andrew Ross Sorkin, co-host of Squawk Box along with Joe Kernan and Becky Quick and this is five Five things to know before today's opening bell. Warner Brothers' Superman reboot topping the weekend box office. Brought in$122 million in the United States and Canada in its debut weekend. Its global haul estimated at$217 million. The movie cost$225 million to produce. Of course, there are marketing costs on top of that. Shoppers spending heavily online from last Tuesday to Friday, what some are calling Black Friday and summer. That was led by Amazon's Prime Day. Adobe Analytics saying that online spending grew more than$24 billion across the United States retailers.

0:42And that was above Adobe's prior forecast. And Reuters reporting that NVIDIA's Jensen Wang is going to hold a media briefing in Beijing this week. He's going to be making his second visit to China just in about the past three months. In an interview that aired yesterday on CNN, he downplayed the United States' fears that his firm's chips will aid the Chinese military. And speaking of China, the country's export growth beating expectations last month. That was boosted by shipments to non-U.S. markets and a temporary reprieve from U.S. tariffs. And J.P. Morgan's Jamie Dimon has warned about the dangers of private credit, comparing the risks to those of the 2008 financial crisis.

1:19But J.P. Morgan now ramping up its efforts in that same area as the growth of private lending has exploded. A new piece in The Wall Street Journal this morning saying that Dimon is now racing to claim a stake before J.P. Morgan is left behind. The report details the bank's strategy to, quote, swoop in strategically and profit if there is a meltdown. I think that's the most important part about this, which is he's not going whole hog into this space. The idea is, to the extent you can be opportunistic, how do you do it? There's potentially a lot of leverage in this space. I mean, the question always has been in the private credit market, some people would say it's all matched up perfectly because there's not a duration mismatch.

1:59meaning people raise a fund that starts one year and ends 10 years later, and they loan it for 10 years, and that's the end of it, so that should be good. The question is whether there's leverage embedded in those funds. Some of the funds don't have leverage, and then there's a lot of funds that have started to get leverage from banks. And the question is, how does that all really work? And is there a way of measuring or tracking all of that? Not well right now. Not well. That is one cute dog. What are you looking at? What dog? That is one crypto. They showed in the scenes, and he was flying. And he was very cute, so I'm trying to figure out what kind of dog he is.

2:36He's a mutt modeled after James Gunn's rescue dog, Ozu. And the CGI, apparently that dog really isn't flying. The CGI design, all of his traits are based on James Gunn's own animal. Usually Superman had a lab or a German Shepherd. So this is, but did you see, did you see how cute? Yeah, I did. I think that's going to make the movie really, or at least, I mean, they seem to have the right formula. I was thinking, reminds me of Underdog. Remember Underdog? He was a pretty studly dog. He was more muttly, right? Yeah, but he was, he flew. He was a little. Superhero. Chestier dog. Save people, save people.

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