Big Bank Beats, $40B AI Deal, Bessent and Miran at CNBC's Invest In America Forum 10/15/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 15 October 2025

⏱️ 50 minutes

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Summary

Carl Quintanilla, Jim Cramer and David Faber discussed the market rally on a day in which September CPI was scheduled to be released. The report has been postponed until October 24 due to the government shutdown. Shares of Bank of America and Morgan Stanley jumped on better-than-expected quarterly results. The anchors reacted to Treasury Secretary Scott Bessent's harsh criticism of China at the CNBC Invest in America Forum. Sara Eisen interviewed Fed Governor Stephen Miran at that event, discussing his push for further rate cuts. On the AI Front: A consortium including Blackrock, Nvidia, Microsoft and xAI agreed to buy a data center company for about $40 billion. Hear what Salesforce CEO Marc Benioff told Jim at Dreamforce Tuesday about AI and the speed of innovation. Squawk on the Street Disclaimer

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0:00.0	Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintania with David Faber at Post 9 of the New York Stock Exchange. Kramer's in San Francisco following his interview with Mark Benioff last night at Dreamforce. Meantime stocks look to reclaim some of Tuesday's late day fade,
0:21.7	as banks add to strength, plenty of news and chips in AI,
0:24.9	even luxuries finding some new legs.
0:26.8	Ten year 402, gold 4,200 today.
0:30.5	Our roadmap begins with trade troubles and rates.
0:33.1	The president firing off a new threat at China.
0:35.7	Powell signaling the Fed's tightening program may soon come to an end.
0:39.3	We've also got more earnings from the big banks. Morgan Stanley posted a big beat. Stop looks like it's
0:44.7	going to be higher investment banking revenue also surging at Bank of America. And CNBC's Invest in
0:51.4	America Forum is underway in D.C. You're taking a look at it right there.
0:54.5	We just heard from the Treasury Secretary of course. Right now, you're looking at the CEOs of Pfizer, Wells Fargo. There's Charlie Sharp talking right now, Northrop Grumman as well, all on stage with our colleague, Sarah. Fed Governor Stephen Myron is also going to speak this hour. We'll bring you some of the highlights. Let's begin with the markets on
1:11.1	the day we were originally due to get a report on CPI. Of course, that release has been postponed
1:15.9	until October 24th due to the government shutdown. Jim, the Treasury Secretary with Sarah this
1:21.2	morning talking about how this is beginning to bite into the real economy. I've seen a couple
1:26.1	notes today saying that because of the paycheck
1:28.2	miss today and tomorrow, you might begin to see some nonlinear impacts of the shutdown on the
1:35.0	economy. Yeah, but look, I think that J-PAL totally understands this. He also seems to understand
1:40.0	that it's that tariffs are coming to be only like a one time and one time plus this possibility
1:46.8	of hiring and employment going down, I mean, shockingly, I think, because of this,
1:53.8	makes it so that you feel that the, that pal has your back.
1:56.8	And that was why I felt that the market was doing so well yesterday until the soybean incident.
2:02.2	It does kind of feel like came mutiny at this point.
	...

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