Squawk on the Street
9AM Hour: IBM Plunges, Big Bank Earnings Reaction, Tame CPI, Fed's Warsh Heads to the Hill 7/14/26
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Show notes
Carl Quintanilla, Jim Cramer and David Faber covered all of the bases on a busy day for the markets: IBM shares plunge on weaker-than-expected preliminary Q2 results; Five of the nation's six largest banks post quarterly beats to kick off earnings season; June CPI comes in tamer than expected ahead of Kevin Warsh's first Capitol Hill testimony as Fed Chairman; SK Hynix rebounds from Monday's sell-off. Also in focus: JPMorgan Chase CEO Jamie Dimon's earnings call message about the market and AI; Apple gets downgraded to the equivalent of a "sell" rating; An exclusive with Paramount's lead outside counsel defending the company's merger with Warner Bros. Discovery — after twelve state attorneys general filed a lawsuit to block it.
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