Mixed Picture for Stocks, Nasdaq Record High, Retail Woes, TikTok Distancing from China?

The “Squawk on the Street” team discusses the mixed picture for stocks, but the Nasdaq continues its rise hitting a fresh record high. U.S. initial unemployment claims edging down in the latest week, better than expected at 1.3 million. More pain for retailers, as Bed Bath & Beyond announces it’s closing 200 stores over 2 years as its sales fall almost 50% during the pandemic. Plus, Sur La Table files for bankruptcy protection and Pier 1 is becoming a web-only business. A report says that TikTok is considering changes in order to distance itself from its Chinese roots. Senior executives are said to be discussing options such as creating a new management board or establishing a new headquarters for the app outside of China.