SOTS 2nd Hour: CPI Breakdown, Fed Implications, and Live from Riyadh: Elon Musk & Jensen Huang 5/13/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 13 May 2025

⏱️ 49 minutes

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Summary

Consumer prices coming in better-than-expected for the month of April: Carl Quintanilla, David Faber, and Michael Santoli broke down the numbers and what they mean for the Fed’s rate path here… Former Fed Governor Randy Kroszner saying he still expects 2-3 cuts by year-end while CFRA’s Chief Investment Strategist forecasts more gains ahead for the S&P - as the index turns positive on the year. Plus: more on key movers of the day from Honda to United Healthcare. Also in focus: the street’s biggest CEOs, regulators, and President Trump headed to Riyadh, Saudi Arabia for a star-studded Saudi-US Investment forum… Hear Elon Musk’s live remarks this hour – and Nvidia CEO Jensen Huang’s potential clue towards future policy when it comes to the chips. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Tuesday morning. Welcome to Swalk on the Street. I'm Carl Kintanao with Mike Santoli, David Faber, live at Post 9 of the New York Stock Exchange.
0:06.1	Sarah's on assignment. In fact, she's at the Saudi U.S. Investment Forum in Riyadh, Saudi Arabia, and we're going to head there live for remarks from the president in just a few moments. Plus Elon Musk also taking the stage there later this hour.
0:18.7	We're going to bring you that as well.
0:20.7	In the meantime, another interesting day in stocks
0:23.5	as we do not give back any. also taking the stage there later this hour. We're going to bring you that as well. In the meantime,
0:21.3	another interesting day in stocks is we do not give back any of yesterday's bounce.
0:26.8	5870 is about 11 points shy of a year-to-date break-even for the S&P. Meantime, the NDX and the
0:34.6	triple Qs have reclaimed their losses for the year so far.
0:39.0	All right, we're going to begin with that Saudi U.S. investment forum.
0:42.0	It's an A-list cross-section of corporate America, and they have descended upon Riyadh.
0:46.6	It includes the likes of Jensen Wong of NVIDIA, Arvin Krishna, IBM, Larry Fink of BlackRock,
0:52.2	AMD's Lisa Sue.
0:53.9	As you can see, all greeting President Trump
0:56.0	and Crown Prince Mohammed bin Salman this morning. Let's get to Amin Javers. He is in Washington.
1:01.4	He also has some breaking headlines as we, of course, are awaiting the president's remarks at this
1:07.0	forum. Amen. Yeah, David, the president running a little bit behind in Saudi Arabia, so we don't know exactly
1:13.0	when that will start.
1:14.0	Meantime, the White House has just put out a list of big business deals.
1:18.6	It's inking as part of this overall trip.
1:21.1	The White House saying it totals up to about $600 billion in investment from major corporations.
1:26.8	The White House saying that Saudi Arabian
1:28.6	company, Datavold, is moving forward with plans to invest $20 billion in AI data centers. Google,
	...

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