SOTS 2nd Hour: Treasury Sec. On The Hill: Day 2, Boeing Crash Latest, Chime IPO 6/12/25

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 12 June 2025

⏱️ 44 minutes

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Summary

Treasury Secy. Bessent testifying on Capitol Hill for a 2nd day, this time before the Senate Finance Committee: Carl Quintanilla, Sara Eisen, and David Faber got the biggest headlines this hour and discussed what it all means for stocks alongside this morning’s fresh inflation and jobless claims data. Evercore Chairman Roger Altman joined the team with his read from the ground – and why he thinks we’re at “the beginning of a slowdown”… Also not mincing words when it comes to the President’s Big Beautiful Bill and its impact. Plus: the latest on an Air India Boeing 787 flight that crashed after take-off overnight, with over 200 casualties. Other top stories: IPO markets beginning to heat back up as Chime becomes the latest name to go public; David caught up with their CEO ahead of the first trade and broke the latest indications this hour… The road ahead for autos with one former Tesla President, current GM board member – as the latter name makes a new multi-billion dollar bet on American manufacturing… And a breakdown of the results sending Oracle shares to new all-time highs. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Thursday morning. Welcome back to Squawk on the Street. I'm Sarah Eisen with Carl
0:10.2	Kintanilla and David Faber. We are live at post nine of the New York Stock Exchange.
0:14.2	Stocks have come back from a little morning sell-off here. The S&P climbing toward the flat line.
0:19.5	A number of sectors positive now. Utilities,
0:21.4	real estate, information technology. Thank you, Oracle, on that one. Materials and healthcare still
0:27.0	have stocks up about four-tenths for the week on the NASDAQ, about three-tenths for the S&P 500.
0:33.4	A mix of geopolitical headlines today. Another benign inflation report trying to figure out what comes next on the trade front.
0:40.0	Treasuries are rallying big time.
0:42.2	You're seeing lower yields across the board.
0:44.1	We do have a big 30-year auction later today.
0:46.0	But again, more better news on inflation.
0:49.5	Maybe it means the Fed can cut more.
0:50.9	That's leading to a bond rally.
0:52.2	30-year yield now, 4.87%. Today, Secretary Besson
0:56.8	back on the Hill, the Treasury Secretary testifying this hour before the Senate Finance Committee
1:01.2	will bring you the highlights as we get them. Plus, much more from David Faber's conversation
1:05.7	with the CEO of CHIM as the FinTech company gets ready for its public debut later today at the nasdaq first
1:12.9	though to the breaking story of the morning an air india flight carrying more than 200 passengers
1:17.3	crashing in the western city of umdabod shares of boeing were down sharply after it was reported the
1:22.3	plane was a bowing 787 dreamliner our phil abo is back with what we know so far this morning. Hi again, Phil.
1:30.2	Hey, Carl, more questions than answers regarding this crash. The video that was fed in minutes
1:35.5	after this crash shows that this plane went down in a fairly populated area, not far from the airport
	...

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