Squawk on the Street
Inflation Report Fuels Stock rally, Disney's Price Hikes, $8.5B Luxury Retail Deal 8/10/23
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Show notes
Carl Quintanilla, Jim Cramer and David Faber focused on stocks rallying on new inflation data. The Consumer Price Index rose in July year-over-year for the first time in 13 months, but came in tamer than expected -- boosting bulls' hopes that the Fed will stand pat on rates in September. The anchors also engaged in a wide-ranging discussion about Disney. The stock rose after the company announced price hikes for its streaming services, overshadowing mixed quarterly results. Also in focus: Coach parent Tapestry agreed to acquire Capri Holdings -- the home of Versace and Michael Kors -- for $8.5 billion in cash, Alibaba and Wynn Resorts among the earnings winners, Novo Nordisk vs. Eli Lilly: The demand for diabetes and obesity drugs.
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