Inflation Day 2 After the Sell-off, Amazon CEO Jassy's Message, "Cities of Success" 4/11/24

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 11 April 2024

⏱️ 43 minutes

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Summary

One day after a hotter-than-expected consumer inflation report sparked a sell-off on Wall Street, Jim Cramer and David Faber discussed market reaction to the March Producer Price Index. The wholesale inflation gauge came in a bit tamer than economists’ forecasts. The anchors reacted to what Amazon CEO Andy Jassy told CNBC about the consumer, regulation and his annual letter to shareholders. In Colorado, Carl Quintanilla provided a sneak peek into "Cities of Success: Denver and Boulder," which premieres Thursday night at 10pm ET on CNBC. Also in focus: Nvidia bucks the sell-off, Apple as the only FAANG stock in the red this year, gearing up for Friday's bank earnings, "Faber Report" on a potential Paramount deal, DJT slumps again, the CEOs who attended the White House state dinner for Japan's prime minister. Squawk on the Street Disclaimer

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street. Don't miss a minute of the action. Good Thursday morning. Welcome to Squawk on the Street. I'm David Faber. He is Jim Kramer. We are alive from Postland at the New York Stock Exchange. Hey, look, there's Carl Cantania. He's in Boulder, Colorado. That's ahead of tonight's premiere of Cities of Success, Denver and Boulder, which
0:21.8	airs at 10 p.m. Eastern. Let's give you a look at futures right now. Of course, we get ready to
0:27.0	begin trading 30 minutes from now. We're looking for, I don't know, what do you want to call that?
0:31.2	That's barely a higher open. PPI scooped. PPI. Yeah, scooped all the bears, man.
0:36.5	That's where our roadmap begins this morning.
0:38.3	The inflation picture, of course, is what we're talking about there.
0:42.3	We've got wholesale prices increasing less than expected, as Jim just said.
0:47.3	Two banks also lowering their rate cut expectations.
0:51.3	That's off of yesterday, CPI news.
0:53.3	We're keeping an eye on big tech as well. In
0:55.8	vizier shares, they're bouncing ahead of the open. JPMorgan lowering its Apple price target. And
1:00.7	you just heard from Amazon's Andy Jassy saying so many different things, including the fact that he's
1:05.8	committed to cost cutting while investing in AI. Plenty of other stocks to track this morning.
1:11.5	Nike, Airbnb, Chevron, Occidental.
1:16.5	We'll go through all the upgrades and downgrades.
1:19.3	But let's get to the broader market here.
1:20.9	First, just let's go get a reaction to PPI after yesterday's sell-off on the CPI.
1:26.1	Well, I mean, there was a lot to like.
1:28.3	I think there's a lot of confusion about these numbers.
1:32.3	I find that what's happened is that yesterday there were a lot of mistakes in the data.
1:37.3	What do you mean by the mistakes?
1:39.3	They're not taking into account a lot of e-com.
	...

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