Stocks Pop, Recovering From a China Trade Deal Scare, Apple Ditches Intel Chips, Incoming Mastercard CEO

Carl Quintanilla, Jim Cramer and David Faber discuss the pop in stocks after White House trade advisor Navarro clarified his comments that the U.S.-China trade deal was over. Navarro explaining he was quote: “speaking to the lack of trust we now have of the Chinese Communist Party after they lied about the origins of the China virus and foisted a pandemic upon the world.” Shares of Apple surging on the heels of the company’s WWDC event, the stock hitting a record high at the open. The tech giant announcing it’s ditching Intel and will be using its own chips for Macs. Plus, the “Squawk on the Street” team speaks with the incoming CEO of Mastercard after the company announces it’s purchasing open-banking company Finicity for $825 million.