Squawk on the Street
Cooler Inflation Data Fuels Big Market Rally -- and FTX's Sam Bankman-Fried Tweets "I'm Sorry" Amid Crisis 11/10/22
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Show notes
Carl Quintanilla, Jim Cramer and David Faber highlighted inflation news that sparked a major rally on Wall Street.
The Consumer Price Index for October came in tamer than expected, up 7.7% from a year ago. The data fueled investor hopes
that the Federal Reserve could take a 75 basis point rate hike off the table for December. With the Nasdaq up 5%, the anchors
explored the best ways to play tech now.
The FTX crisis also in the spotlight after Binance backed out of rescuing its crypto exchange rival.
FTX CEO Sam Bankman-Fried launched a 22-part tweetstorm -- including profanity -- leading it off with "I'm sorry.
That's the biggest thing." The anchors discussed what's at stake for a crypto market under pressure. Also in focus:
Mark Zuckerberg's message to Meta employees about layoffs. Morgan Brennan talks defense and geopolitics with
Gen. Mark Milley, Chairman of the Joint Chiefs of Staff.
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