11AM Hour: Saks Global CEO on Restructuring, Scotiabank CEO on Global Economy & The Next Wave of Weight Loss Drugs 6/8/26

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 8 June 2026

⏱️ 43 minutes

🔗️ Recording | Apple Podcasts | RSS

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Summary

The CEO of Saks Global joins after the company received court approval for its bankruptcy restructuring plan. Then, the CEO of Scotiabank, one of the largest banks in Canada, joins with his outlook for the global economy. We also discuss what to expect from Apple WWDC which kicks off today. Plus, we break down new weight loss drug results from Eli Lilly and Zealand Pharma. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Monday morning again. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kintanilla,
0:10.1	live from post nine of the New York Stock Exchange. Today, signs of life for the tech rally here
0:14.6	after Friday's brutal selloff, chipmakers looking to bounce back, and investors closely watching
0:19.1	headlines out of the Middle East.
0:25.3	Tim Cook's legacies in the spotlight today, what to expect from his final developers conference as Apple CEO. And SACS global edging closer to exiting Chapter 11 bankruptcy as a U.S.
0:32.9	Court approves its reorganization plan. We'll discuss the path forward with the department store,
0:37.8	CEO of SACS. Trying to get a little bounce after the worst day for the S&P of the year.
0:43.6	And, of course, the NASDAQ's shalacking on Friday down four plus. Cospy was down eight
0:48.0	overnight. Got some buying, definitely in tech. Consumer discretionary, too, up one percent.
0:52.9	But yields have been a little sticky. The long bond now 501.
0:57.0	We'll watch that. Yeah, the 10 year above 4.5. We're getting some breaking news. Speaking of
1:00.5	from the New York Fed, Steve Leesman has it for us. Steve.
1:04.6	Hey, yeah, about all important inflation expectations, Sarah, and they are stable. Unfortunately, though, they remain at a high level. The one-year
1:12.5	inflation expectations at three and a half percent. That is down a tick, but the level is up near where it was
1:18.3	around the tariffs. And again, you've got to go back to the pandemic era to find expectations that
1:23.5	high. Again, the three-year and the five-year unchanged, but still at a relatively high level.
1:28.3	The Fed watches those three and five years more carefully for signs that inflation expectations
1:32.6	are a problem. There was a modest drop in gas price expectations, but food and rent price
1:38.0	expectations both surges. The outlook for unemployment declined 0.4%. And the concern grows about job loss and finding a new job.
1:50.7	Guys, in case there was any question,
1:52.0	I put a chart together for viewers here about the connection between retail gas price
1:57.3	expectations and the one-year inflation expectations.
	...

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