Squawk on the Street
Cooler Than Expected Print, Paramount Update, Oracle’s AI-Fueled Boom 6/12/24
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Show notes
Carl Quintanilla, Jim Cramer and David Faber began the hour by breaking down the market rally following this morning’s inflation data. The consumer price index held flat in May, but increased 3.3% from a year ago. Both numbers were 0.1 percentage points below market expectations, which sent stocks soaring and yields lower. After the market discussion, David Faber reported the latest around Paramount, after National Amusements stopped discussions with Skydance, ending months of deal discussions without a transaction. After the opening bells, the desk also reacted to Oracle’s latest quarter. Shares of the tech company rallied on Google and OpenAI deals despite posting an earnings miss.
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