Inflation Surprise, Trump's Tariff Threat Against EU Alcohol, Intel Surges on CEO Pick 3/13/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 13 March 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla and Jim Cramer explored market reaction to inflation data which saw a surprise decline in the February PPI core rate. The anchors discussed President Trump’s threat to slap the European Union with a retaliatory 200% tariff on the bloc's alcoholic beverages. Shares of Intel surged after chip industry veteran Lip-Bu Tan was named its CEO. Can he turn the chipmaker around? Also in focus: What FTC Chair Andrew Ferguson told CNBC about regulating big tech, Adobe falls despite a Q1 beat, the signals retail earnings are sending investors about consumer behavior, Democrats blast Elon Musk in campaign ads. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CNBC squawk on the street. Don't miss a minute of the action.
0:07.8	Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanao with Jim Kramer at Post Night of the New York Stock Exchange.
0:12.6	David Fabers on assignment. Futures are not benefiting from that decent macro data. The surprise drop in core PPI,
0:19.5	jobless claims down a touch, but the president does issue
0:22.8	some more tariff threats, and we do have the looming prospect of a government shutdown.
0:26.8	Our roadmap, the president threatens a new 200% tariff targeted at the EU. We're going to talk to
0:32.7	the Treasury Secretary next hour. Intel appointing a chip industry veteran and former board
0:37.4	member as its new CEO and
0:39.4	big tech in the crosshairs. The FTC says it will not back off Microsoft, Amazon, or meta.
0:46.6	Let's begin with the markets in this taper than expected a PPI number, Jim. Second month on
0:51.5	drop on core since 2020. Yeah, look, I think that if you had gotten this number not long ago before the tariff practice, you would say, you know what?
1:01.7	The Fed has really got an opportunity with the consumer slowing down to cut, and it's probably going to be on tap.
1:08.6	But because things are so convoluted and we keep reading these articles, but how
1:12.1	scared everybody is, I think you can scare people into scare, we're taking it as if it's not
1:17.5	significant.
1:18.5	It's incredibly significant.
1:20.1	And I think that the president doesn't make it easier because there's just news constantly,
1:25.0	and you do get a very inflationary thing that was just mentioned about wine and champagne.
1:29.7	But these numbers are very calm, and they should make us calm, but we're anything but.
1:34.8	Yeah, you point out some of the corporate commentary about the consumer.
1:38.8	Today, the journal tries to tally the, I don't know if we call them warnings, but certainly
1:43.8	comments about the consumer from, Delta, Walmart, McDonald's, Costco, Foot Locker, Lowe's. And they argue, I mean, if you're looking for someone to save the economy, maybe it's not going to be the consumer this time.
	...

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