Hot Inflation Day 2, Trump-Xi Summit, Nvidia CEO Huang Goes to China 5/13/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 13 May 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Sara Eisen and Michael Santoli led off the show with market reaction to another batch of hotter-than-expected inflation data: Month-on-month, April PPI nearly tripled economists' forecasts — one day after CPI showed a jump in consumer inflation due to high gas prices. A live report from Beijing after President Trump arrived in China for high stakes talks with President Xi. Shares of Nvidia rose after Jensen Huang joined fellow CEOs such as Elon Musk on the trip. Also in focus: Musk vs. Altman, chips coming off their worst day since late April, Nebius surges, SoftBank and Alibaba earnings, Amazon rolls out its AI shopping assistant, oil prices climb, Cerebras to price what's expected to become the biggest IPO of the year so far. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market moving insight and analysis.
0:02.1	Join Jim Kramer, David Faber, and me, Carl Kintanilla,
0:04.8	on the opening bell hour of CNBC Squawk on the Street.
0:13.3	Good Wednesday morning.
0:14.4	Welcome to Squawk on the Street.
0:15.4	I'm Carl Kintania with Sarah Eisen, Mike Santoli here at post-9 of the New York Stock
0:18.8	Exchange.
0:19.6	Favors on assignment, Kramer has the morning off.
0:22.1	Got some pressure on premarkered equities as April producer prices come in.
0:25.7	Triple the estimate, one of the biggest monthly spikes of the past 10 years.
0:29.9	Ten year yields near four and a half.
0:31.5	That's a 10-month high.
0:32.8	Oil's relatively steady as the stalemate with Iran will no doubt be the subject of discussion
0:37.1	as the president lands in Beijing for will no doubt be the subject of discussion as the
0:37.8	president lands in Beijing for the first time in nine years.
0:42.0	A roadmap begins with the president arriving in China for his summit with Xi Jinping.
0:46.2	We'll get a live report from Beijing.
0:48.5	Also ahead, closer look at April's PPI coming in much hotter than expected.
0:53.1	Yield spiking, including the 30-year bond yield moving further into the 5% area.
0:58.4	And the chip sector looking to resume its red-hot rally after posting its worst day since late April.
1:03.8	Let's begin with market reaction to PPI on top of yesterday's CPI print, which did add to Wall Street's concerns about inflation, guys.
1:12.5	Yesterday it was a discussion about SuperCore and Services X Housing.
	...

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