Hot Inflation Data, Nvidia Reaches Amazon’s Market Cap, TV Ratings Record 2/13/24

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 13 February 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber started the show by breaking down the hotter-than-expected inflation data, with CPI rising 0.3% in January. The morning data sent stocks lower and yields spiking; the Dow dropped 500 points during the first hour of trading. The anchors then shifted to a look at some high-flying tech names, as Nvidia overtook Amazon in market value, making the tech giant America’s 4th largest company. Also in the mix: the desk also mentioned the viewership numbers from Super Bowl 58. More than 123 million Americans tuned into the game, making it the most-watched television show ever. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street. Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kington-A. with David Faber Post-9 of the New York Stock Exchange. Kramer joins us live today from Philadelphia. Futures are tumbling on the hottest core CPI print since last April. Ten-year pops above four and a quarter. That's a high for the year. Add to that,
0:21.7	a rash of weak guidance from companies like Marriott and Hasbro. We'll get to all of it. Our roadmap begins,
0:26.6	though, with the latest inflation print core CPI, hotter than expected, big implications for Fed rate cut
0:32.4	expectations. Plus, we'll talk chips and the AI frenzy. Invidia shares, They're at record highs and have overtaken Amazon when it comes to overall market value.
0:42.1	And it was a big ratings win for Sunday's big NFL game.
0:47.1	Yeah, it was called the Super Bowl, and it easily shattered viewership records.
0:52.0	Let's get to this morning's a CPI number, as we said, hotter than expected.
0:55.5	Jim, everybody's talking about shelter six-tenths. That's two-thirds of it right there.
1:01.0	Right. I wonder how much the, we tend to use the number eight million aliens, illegal aliens,
1:08.9	legal aliens, immigrants, whatever you want to call it.
1:12.0	But I think that they've been a major source of rent increase because we have to shelter everybody.
1:17.3	And the cost of sheltering is just going up because we've had a big burgeoning in population.
1:22.1	We just don't talk about it.
1:23.5	I think we should talk about it because it's something that is vital to make sure that we're a civilized country.
1:29.0	And we right now have to put people in homes.
1:32.2	We have to put people in apartments.
1:33.9	And we have no choice.
1:35.1	And I think that's moving up in shelter.
1:37.9	Kind of ties in with what CBO said the other day about immigration, Jim.
1:41.5	And that is that the economy is going to be $7 billion bigger because of the people we're letting into the country.
1:47.6	Well, look, these are undocumented immigrants. I think I do not share the negativity about this,
1:53.6	by the way, because we have such a shortage of workers, and I think if we just adopt kind of a humane
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