Bank Earnings Day Two, Trump vs. Powell, "Good News, Bad News" Inflation Picture 1/14/26

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 14 January 2026

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On the second day of bank earnings, Carl Quintanilla, David Faber and Sara Eisen explored why shares of Bank of America, Wells Fargo and Citigroup fell in reaction to their respective quarterly results. The anchors discussed President Trump's latest criticism of Jerome Powell in wake of the Justice Department's criminal probe of the Fed chair. The November Producer Price Index came in hotter-than-expected year-on-year, but tamer than forecasts on a month-on-month basis. Also in focus: Trump speaks out on JPMorgan Chase CEO Jamie Dimon, sources tell David that Netflix is likely to make its deal to acquire Warner Bros. assets all-cash, weakness in software stocks, oil prices hit October highs as Trump considers ordering military strikes in Iran. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:05.7	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintania with David Faber, Sarah Eisen here at Post 9 of the New York Stock Exchange.
0:11.6	You'll see Kramer tonight on Mad. Stock's looking at another day of declines as bank earnings are mixed.
0:16.8	A lot of attention on Iran, waiting on SCOTUS perhaps. Brent crude up more than 10% over five sessions.
0:23.4	Retail sales do come in strong, but so does year-on-year producer prices, up 3%.
0:27.6	Bonds mostly taking that in stride.
0:30.4	Our roadmap begins with this flood of bank earnings.
0:32.7	Wells, B of A and City beat estimates, most of them anyway.
0:36.6	What they're saying about, they're out out looking for the U.S. economy.
0:39.2	From Wall Street to Washington, a Supreme Court opinion on President Trump's tariffs could come today.
0:45.0	We don't know, but we are expecting a decision, plus the latest back and forth on Powell and the Fed Independence.
0:50.4	And I will have some new developments in that battle for Warren Brothers Discovery.
0:54.1	Netflix likely to make its deal all cash.
0:56.9	We will talk about why.
0:59.4	Let's begin with market reaction to some of the bank earnings today.
1:02.1	B of A, as we said, Wells and City.
1:04.5	The outlier is Wells today, Sarah, which is missed on both the bottom and the top line.
1:09.1	I don't know.
1:09.5	I think it says more a little bit about the expectations, just missing.
1:13.9	Because overall, it was a pretty healthy quarter for Wells.
1:16.6	I did have a chance to talk to the CFO and the CEO today about the business.
1:21.5	And it was exactly what they expected and exactly what they think that they've been telegraphing Wall Street in terms of growth.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.