10AM Hour: The Market's Inflation Worries, Google I/O Takeaways, & Navigating Record Mortgage Rates 5/19/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 19 May 2026

⏱️ 43 minutes

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Summary

Carl Quintanilla, Sara Eisen, and David Faber began the hour with fresh housing data along with new Wall Street commentary around growing inflation fears before getting into the market outlook with Morgan Stanley Wealth Executive Director Jim Lacamp and later on - longtime market veteran Charles Dallara (who's got a new warning when it comes to energy markets). Plus: key takeaways from Google's I/O developer conference, a look at one 150 year old company experiencing the AI transformation first hand, and the latest headlines out of oral arguments in Anthropic's case against the Department of Defense, kicking off this morning. Elsewhere this hour: the housing tear down - from Home Depot results to record high mortgage rates - and what they mean for the rest of the group in today's trade. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintania with David Faber, Sarah Eisen at post-9 of the New York Stock Exchange.
0:12.7	Coming up this hour, the three-headed threat facing the market. We'll talk to Morgan Stanley's
0:17.0	Jim LaCamp about the factors that could tame the bull run. Is a rotation from the chips to software just getting started?
0:23.7	We'll look at what's driving one of the most consequential moves in the market right now.
0:27.6	And Google's I.O. starts today.
0:29.2	Updates expected around AI.
0:31.4	One expert says the company has disappointed on the frontier AI performance,
0:36.3	even though the stock has been a winner.
0:38.4	Let's get some pending homes with Diana Oleg this morning. Hey, Diana.
0:42.2	Good morning, Carl. Pending home sales rose 1.4% in April compared with March and worth
0:47.9	3.2% higher year over year, that according to the realtors, and it's pretty much in line
0:52.5	with expectations. Regionally, pending sales were higher month to month everywhere, except in the South.
0:57.9	Now, this count is based on signed contracts.
1:00.1	So that's people out shopping in April when mortgage rates actually fell back a little bit
1:04.2	from their March highs.
1:05.7	Rates sparked at the onset of the Iran War.
1:07.9	Now, the Realtors' Chief Economist, Lawrence Yun, said in a release that buyers are coming out with cautious optimism despite increasing economic uncertainty
1:15.9	and a slight rise in mortgage rates. He said demand will easily be even higher once mortgage
1:21.6	rates retreat to the levels they were earlier this year. But unfortunately, rates have
1:26.4	been rising again recently now with
1:28.4	the 30-year fixed at 6.68 percent. According to Mortgage News Daily, that is the highest level since
1:34.0	last July and higher than that recent spike in March, Sarah. All right. Diana, thank you very much.
	...

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