Yellen's Backstop Message, First Republic Shares Jump, Nvidia and the AI Arms Race 03/21/23
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 21 March 2023
⏱️ 43 minutes
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| 0:00.0 | Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street. |
| 0:12.5 | Good Tuesday morning and welcome to Squawk in the Street. I'm David Faber with Jim Kramer. We're live from post-9 at the New York Stock Exchange. |
| 0:19.7 | Carl has the morning off. Let's give you a look at futures. |
| 0:22.0 | We get ready to start trading on this Tuesday, half hour from now. |
| 0:25.6 | And you can see we are looking for a higher, higher open. |
| 0:29.3 | All right, let's get to our roadmap this morning. |
| 0:30.9 | It starts with, give you one guess. |
| 0:33.8 | Banks. |
| 0:34.5 | Thanks. |
| 0:34.8 | George Secretary Yellen is set to tell a banking summit that the government could backstop more deposits if necessary to stop any potential contagion. |
| 0:45.3 | Of course, Republic has certainly been a focus for us. |
| 0:48.1 | Those shares are up this morning. |
| 0:49.8 | As we reported yesterday, J.P. Morgan continues to advise the bank on strategic alternatives. |
| 0:56.2 | That could include maybe a capital raise. |
| 0:58.8 | We're going to get into this, Jim and I. |
| 1:00.7 | I'll give you some ideas here and what I'm hearing, too. |
| 1:03.1 | And, of course, we'll be talking about the Fed. |
| 1:04.6 | It's kicking off that two-day meeting. |
| 1:06.6 | Policymakers are juggling financial stability versus inflation. |
| 1:14.5 | And that's the key in terms of what they will do. |
| 1:20.8 | 25, 50, zero. All right, let's start with the latest developments surrounding the banking turmoil that kind of continues. You've had a few days to sort of think about things. And we say |
| 1:26.9 | turmoil, you know, yesterday was actually quite a positive base for many of the |
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