New Market Week, Musk Interview Announcement, Adobe CEO on AI, Merger Monday 5/15/23

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 15 May 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla Jim Cramer and David Faber led off the show with what investors can expect from the markets this week, ahead of earnings releases from major retailers and the resumption of debt ceiling talks in Washington. David announced that he will have a live interview with Elon Musk Tuesday night on CNBC. Adobe CEO Shantanu Narayen joined the program to discuss his company's foray into AI. Also in focus: "Merger Monday" including the largest-ever M&A deal in the gold mining industry, Shake Shack faces a proxy battle, Sarepta soars, plus why legendary investor Paul Tudor Jones told CNBC the Fed “could probably declare victory now.” 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 CBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:07.8	Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintanay with Jim Kramer,
0:11.0	David Faber at Post 9 of the New York Stock Exchange. Future is pretty steady. Active news flow
0:15.6	today. Some debt ceiling optimism as talks resumed tomorrow. softer inflation prints in Europe and Asia,
0:21.6	upgrades of Schwab, Mehta, and DuPont.
0:24.6	Our roadmap begins with the macro outlook, though, investors eyeing new hopes for a DC debt
0:29.1	ceiling compromise.
0:30.6	And Atlanta Fed, President Boston, casting some doubts on rate cuts this year, even if there
0:35.1	is a recession.
0:36.1	Plus, we've got some deals today. Newmont gets that green light for one of the world's largest buyouts so far this year. And Wanox going to buy Magellan. It's a $19 billion pipeline deal. Jim will have some things to offer on that. Sure. And as well, we're going to hear about Adobe's push into AI. CEO Shantanu Nar Ryan will join us later in the hour to talk about that.
0:57.5	Let's start with this new market week, including these debt ceiling talks and a bunch of retail
1:01.9	earnings.
1:02.7	Jim, you've been, I would say, worried about the X-Date, and I wonder if any of these reports
1:07.5	about so-called progress resonate with you?
1:10.5	I need to hear hear from the Republicans,
1:13.7	particularly from Speaker McCarthy,
1:15.0	because Speaker McCarthy's on thin ice if he makes a deal here.
1:19.2	The sitting president who has a recession or inflation has, if it's first term,
1:26.6	has historically lost. So I don't understand why Speaker McCarthy would want to come to this deal unless Biden's surrendering.
1:32.3	If Biden's surrendering, I get that.
1:34.3	David, if the Biden's surrendering, this market's going to be up a lot more.
	...

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