Big Bank Earnings Day 2, Nvidia CEO in China, Inflation Surprise 7/16/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 16 July 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla and Jim Cramer explored what to make of a second day of bank earnings, led by Bank of America, Goldman Sachs and Morgan Stanley. The chip sector's record run also in the spotlight, led by Nvidia trading at all-time highs. The anchors reacted to comments made by Nvidia CEO Jensen Huang in Beijing about doing business in China. The Producer Price Index for June comes in tamer than expected, showing wholesale inflation unchanged month-on-month. Also in focus: ASML drags chip equipment stocks lower, Johnson & Johnson jumps on earnings, President Trump from trade to your 401(K), crypto legislation vote watch. Squawk on the Street Disclaimer

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0:00.0	Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.
0:11.2	Good Wednesday morning. Welcome to Squawk in the Street. I'm Carl Kintania with Jim Kramer at Post-Night of the New York Stock Exchange. Faber has the morning off.
0:17.5	Pre-market equities are encouraged by this soft PPI print this morning,
0:27.5	unchanged on headline and on core, yields back off a bit after the long bond hits 503. That was the highest since late May. Our roadmap begins with a fresh round of bank earnings, B of A, Goldman,
0:33.1	Morgan Stanley, and more. Invidia with some new record highs, Jensen Wong talking in China about doing more
0:38.4	business there, and the president reportedly preparing an executive order to help open up 401ks
0:43.8	to private markets. Let's begin, though, with day two of these bank earnings, as we said, Goldman
0:49.7	Sacks, Morgan Stanley with quarterly results mostly beats B of A results come in mixed, Jim.
0:55.2	The star of the show, maybe Goldman Equities, the best trading quarter in the history of Wall Street.
1:02.3	I was astonished, but Nicole could make this much money.
1:05.3	And by the way, it's a prelude.
1:07.1	What they're saying is that investment banking is going to get incredibly hot.
1:12.6	IPO really coming together. They look what they've done, they've cut expenses.
1:16.6	They're making a lot more money.
1:18.6	And I think it's just their time.
1:20.6	It's what they're set up to do.
1:22.6	Wealth management was fine.
1:24.6	I like wealth manager.
1:25.6	I like that's like to go to Morgan Stanley for that.
1:27.8	But I was just quite impressed that they are so bullish.
1:33.6	See, that's something that I've not heard.
1:35.6	I mean, everyone's circumspect, right?
	...

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