Inflation Falls, Exclusive With NFL Commissioner Goodell, Rough Day for Delta 7/11/24

Squawk on the Street

CNBC

News, Investing, Business

4.1 • 567 Ratings

🗓️ 11 July 2024

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

After another record-setting day for stocks,, Carl Quintanilla, Jim Cramer and David Faber explored market reaction to the Consumer Price Index. It shows inflation fell in June from the previous month. Is a September Fed rate cut in the cards? In a CNBC Exclusive at the Allen & Co. conference in Sun Valley, Idaho, NFL Commissioner Roger Goodell and Julia Boorstin discussed the business of football in the streaming era. Also in focus: Delta shares tumble on guidance and oversupply, what PepsiCo's CEO said about his company’s earnings, Pfizer rises on its experimental obesity pill, Ed Yardeni boosts his year-end S&P 500target to 5800. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market Moving Insight and Analysis.
0:02.0	Join Jim Kramer, David Faber, and me, Carl Kainteneah, on the opening bell hour of CNBC Squawk on the Street. Good Thursday morning, welcome to Squawk on the Street. I'm Carl Kintanaia with Jim Kramer, David Faber, post nine of the New York Stock Exchange. Futures tried to erase some morning losses as June CPI gives us our first month-on-month deflation in more than four years. Shelter slows down
0:22.7	dramatically. Ten-year yield drops to the lowest level since March. Our roadmap begins with the
0:27.1	rate cut outlook. Inflation does fall in June. What does it mean for the Fed's policy path?
0:31.9	Plus, Delta shares are tumbling this morning. The outlook for the company falling short of estimates,
0:35.8	despite what is, of course, very strong summer travel demand.
0:39.4	Pepsi shares also under a bit of pressure this amid signs of weakening U.S. demand, and,
0:44.3	yeah, that guy, he's going to join us as well.
0:46.9	NFL Commissioner Roger Goodell.
0:50.5	Let's begin with the market reaction to CPI after yesterday's sixth record close in a row, Jim.
0:56.0	Everyone's pointing to Super Corps down two straight months.
0:59.1	Core X Shelter down two straight months.
1:01.6	Look, these numbers are the kind of numbers that if you were J-PAL, you say, listen, I'm there, I'm ready.
1:08.3	I've said that we have to be a little bit more worried about balancing things.
1:12.6	And looking at these numbers, I think that unlike Delta, which has got a lot of turbulence, this thing is perfect.
1:20.6	Look, it's okay to say it's perfect, too.
1:22.6	It's okay.
1:23.6	So many things are not perfect.
1:25.6	So many.
1:26.6	Okay, you want to know the line that's not perfect?
1:28.9	Tell me. Indoor plants and flowers. Much higher than I thought. I thought when you were talking about things are not perfect, you were talking in a broader sense, but sure, indoor plants and flowers do not do as well. But don't worry, clocks were okay. Clocks were okay? Yeah, you buy a clock. They do get very granular there. Do we get a cut before September?
1:45.8	Okay, see, you buy a clock. They do get very granular there. All right. Do we get a cut before September?
	...

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