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Squawk on the Street

War Impact on Inflation, Bessent and Powell Meeting With Bank CEOs About AI Risks, CoreWeave CEO "First on CNBC" 4/10/26

Squawk on the Street

CNBC

News, Investing, Business

4.0566 Ratings

🗓️ 10 April 2026

⏱️ 46 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber led off the show with the first CPI report reflecting the spike in oil and gasoline prices due to the Iran war: Consumer inflation rose in March by 3.3% year-on-year, the biggest increase in two years. On the AI front: CNBC confirmed that Treasury Secretary Scott Bessent and Fed Chair Jerome Powell convened a meeting with bank CEOs earlier this week, to discuss cyber risks raised by Anthropic's new Mythos AI Model. CoreWeave CEO Mike Intrator joined the program to talk about the company's latest AI deals: One with Anthropic, the other with Meta. Also in focus: A week to forget for software stocks, Taiwan Semi's revenue surge, Intel extends rally on Melius' price target hike, Nike downgraded. 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's squawk on the street. Don't miss a minute of the action. Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintania with Jim Kramer, David Faber, post-9 of the New York Stock Exchange. Stock's going for an eighth straight gain in a row, and the first back-to-back gains of the year weekly as we await the first in-person talks with Iran and Islamabad this weekend.

0:23.3

S&P's back to gains of the year weekly as we await the first in-person talks with Iran and

0:21.5

Islamabad this weekend. S&P's back to flat on the year for a total return basis. Oil pretty steady,

0:28.0

around 98, energy costs did take headline CPI to 3-3 in March, hottest in a couple of years,

0:34.2

but not much bleed into the core year-on-year- 2.6. We'll get you, mission an hour.

0:39.0

Roadman begins with the S&P riding the longest win streak since October as negotiators

0:43.7

meet for talks this weekend in Pakistan.

0:46.6

First gracious Secretary Bessett and Fed Chair Powell meeting with bank CEOs earlier

0:51.7

this week to discuss the rising risks.

0:54.1

Wow, this is not going to work today, is it?

0:56.5

Following Anthropics's latest AI model, speaking of Anthropics, not to the news.

1:00.8

The CEO of CoreWeave will join us.

1:03.0

It's a first on CNBC's announcing a new multi-year deal with Anthropic.

1:07.3

That's a day after they expanded that IR partnership, AI partnership with Meta.

1:12.8

We'll see whether I make it through the show here with this voice. Sorry, guys.

1:16.8

He sound pretty good. I think we'll be all right. Okay. Let's begin with some market reaction to

1:20.6

CPI today. Jim, obviously we were bracing for a move in headline. Energy up 10.9.

1:26.5

It's about a third of the overall increase.

1:28.6

You know, look, I know that almost everything's political these days and I don't want it to be,

1:33.9

but when you look at the fine print, apparel's up. We had Levi Strauss from the other day,

1:38.5

Michelle Goss. I mean, they had tariffs. Household furnishings really hit badly by tariffs.

1:45.8

Education is weird, new vehicles, tariffs.

...

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