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Squawk Pod

Netflix Ads & The Big Bank Barometer: Hotter Economy Ahead? 7/14/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2543 Ratings

🗓️ 14 July 2022

⏱️ 29 minutes

🧾️ Download transcript

Summary

Description: Hot summer weather, hot inflation data, gloomy Americans? Pollster and political strategist Frank Luntz says higher prices are frustrating both American consumers and CEOs. The first round of earnings is out, but the big banks have so far delivered lackluster reports. JPMorgan CEO Jamie Dimon is warning of a troubled road ahead for the American economy, and CNBC’s Dom Chu considers whether these results set a gloomy financial precedent for those still to come. Plus, Netflix and Microsoft have teamed up to deliver a lower-cost, ad-supported subscription to streamers. Axios reporter Sara Fischer says that Netflix is keeping up with the media Joneses.

Transcript

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0:00.0

Bring in show music please.

0:03.0

Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pot.

0:08.0

Inflation Emotions, Polster Frank Luns and the frustrations of American spenders on record high prices.

0:15.0

This is what happens when you tell people that things are getting better and they know through their own experiences that they're not.

0:22.0

And a cheaper Netflix is on deck, but it'll still cost you.

0:26.0

Sarah Fisher from Maxios. When Netflix launched its streaming service,

0:30.0

there wasn't a sophisticated streaming advertising product out there.

0:33.6

Fast forward to 2022, streaming advertising really is mainstream.

0:38.6

Plus a rare earnings surprise from America's biggest bank,

0:42.0

JP Morgan's 28% profit drop and hedge against future

0:45.9

loan loss.

0:46.9

Is this the canary in the consumer coal mine?

0:49.4

C. NBC's Dom Chu.

0:50.4

We use J.P. Morgan Chase as a precedent setter right because it's typically one of the first

0:54.4

of the bigger banks to report. The issue is now whether it becomes trend-like.

0:58.4

It's Thursday, July 14th, 2022. Squack Pod begins right now.

1:03.7

Today on the podcast, we'll start with inflation, yeah, at four decade highs.

1:15.3

We're looking not just at the headline numbers, but how it's making people feel.

1:20.5

Here's Morton Sloane, fourth generation grocer from the Morton Williams chain of supermarkets in New York City.

1:25.6

There have been waves of increases.

1:27.6

There's another one going on right now, and I hear the prices that we ourselves have to charge for things and I'm stunned by them.

1:36.6

I'm shocked by them.

...

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