Squawk on the Street
Inflation Watch, Intel Reportedly Plans Job Cuts, PepsiCo Pops, Moderna Surges and Zuckerberg Talks Metaverse 10/12/22
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Show notes
Carl Quintanilla, Jim Cramer and David Faber explored market reaction to new wholesale inflation data: The September Producer Price Index jumped by a hotter-than-expected 0.4% from the previous month, but eased to 8.5% on a year-over-year basis. Cramer explains why he finds the data "disappointing," but sees PepsiCo as a bright spot after the company's
quarterly earnings beat and raised guidance. Intel also in the spotlight on a published report saying the company plans to cut
thousands of jobs. Also in focus: Treasury Secretary Yellen to CNBC on financial stability, President Biden's comments on the possibility of a recession, luxury retail, Moderna surges on its cancer vaccine partnership with Merck and Meta CEO Mark Zuckerberg makes the case for the metaverse. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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