Welcome back to Squawkbox. Rick Santelli here live at CME HQ with inflation data, wholesale inflation data. Breaking news for the month of June.PPI comes in unchanged. Unchanged. We're expecting up 210.Unchanged will be the smallest inflationary wholesale increase in it since it was minus one10enth in March of this year. Strip out food and energy, it remains zero, unchanged, zero. And uh that would once again that would comp towards April when we were minus 210 which by the way was lowest inflation rate goi ...

the House uh today set to take uh the next steps on three crypto bills. Uh it's going to happen today. Joining us now, Financial Services Committee Chairman uh French Hill.It it uh good morning. It's good to see you uh Congressman. Good morning, Chairman.We we heard that uh I guess rumblings that maybe the votes weren't there and then, you know, the president met with with uh some individuals yesterday. Are you confident now it's the votes are there. I believe that we do have uh the votes to advance the Sen ...

Joining us now, Gary Conn, IBM vice chairman, former director of the National Economic Council, joins us on set as he really should um exclusively um from time to time. Thank you, Joe. It's always nice to be here with you. Always good to see you.What an introduction, right. Yeah, you s I don't I don't Nice introduction. It's not nice to be It's No, it's not. It's not nice to be wanted that I want you here instead of somewhere else.It's not Would you rather say, "Gosh, I wish you were on another show." No, y ...

And a second day of meeting set to begin between the New York City Democratic mayoral candidate Zoran Mandami and more than 100 executives. It's been organized by the Partnership for New York City. Uh the group planning to meet with sitting mayor Eric Adams tomorrow.And joining us right now, someone who spent some time with that nominee yesterday and a whole bunch of other CEOs, Katherine Wild, president CEO of the Partnership for New York City. Good morning. Good morning.Okay, so take us inside the room. I ...

US-China Trade & Technology - The Trump administration initially banned the sale of Nvidia's H20 chip to China, a downgraded chip designed to meet US requirements for sale in the Chinese market, but later reversed this stance [2] - Chinese customers reportedly desire the H20 chip in very large quantities, potentially leading to billions of dollars in sales for Nvidia [2][3] - The decision to allow H20 sales may stem from US-China talks where China allowed rare earth magnet shipments to the US in exchange for the US lifting certain controls [5] - The initial ban on H20 chips was based on concerns that large-scale purchases by Chinese firms would enable them to compete with US AI players and develop AI for strategic purposes [6] Competitive Landscape in AI Chips - Nvidia remains a leading player in the AI chip market, even with downgraded chips, as Huawei's domestic production of needed AI chips is limited [7] - Nvidia's ability to sell scaled-down versions of its chips in large volumes to China indicates its lead over Huawei, which struggles with production [9] - Huawei faces challenges in ramping up production and resorts to smuggling chips and components from abroad [9] - US firms, along with Taiwanese manufacturing partners like TSMC, maintain a significant lead over Chinese competitors in high-end AI chips [8][9] Semiconductor Manufacturing & Geopolitics - Taiwan produces 90% or more of the most advanced chips used in AI, smartphone processors, and PC processors [10] - TSMC is developing a large campus in Arizona, representing early-stage efforts to diversify the semiconductor supply chain, but significant concentration remains in Taiwan [11]

Do you have a take on just the idea of putting a private investment, alts, it's often called, into a 401k. Um, how do you see that playing out for retail investors generally I would assume who would be accredited investors. Uh, what's your take.Well, look, I think we we are starting to see the mainstreaming of private credit into portfolios. I mean, already affluent and wealthy investors have increased their investments in private credit by two and a half fold in the last 3 years. there's something like abo ...

Welcome back. Squat. Zoran Mandami's primary win in New York City's mayoral race has sparked what might be described as a panic among the wealthy with some business owners and developers threatening to leave the big apple if the Democratic socialist becomes the mayor.Robert Frank joins us now uh at the table this morning with a look at the city's wealthy and what they really think about all of it. What do you think. Good morning, Andrew.Well, Florida real estate brokers say they've seen a surge in interest ...

ASML warning about growth. ASML a very key player when it comes to making chips for Nvidia and a whole bunch of other players. What does that say to you about this tech trade that we all I think a lot of people felt was kind of short up yesterday by Nvidia.Yeah, I think you know what we're seeing right now of course we're going to see some short-term eb and flows in terms of what's happening with the supply chain. But by and large u the story remains one driven by artificial intelligence and it's here to st ...

Goldman Sachs and Morgan Stanley just releasing quarterly results. I know Goldman Sachs is trading higher. Let's get over to Leslie Per picker.She's looking through the numbers on that. Hey Leslie. Hey Becky.Yeah, Goldman Sachs reporting top and bottom line beats driven by huge gains in the business that advises on acquisitions as well as equity trading. The firm's global banking and markets division which houses those two businesses generated 10 billion in revenue up 24% year-over-year. advisory, which lar ...

I got to start off with the chip trade and the tech trade in general after ASML's warning. How are you viewing that warning and the impact on stocks in the pre-market. I mean we have seen a market that for you know years and years now has been dominated by the mag seven earnings and the AI story and big tech.Now some of big tech in a sense when you look at an Amazon a meta etc. although they are also big tech and the forwardlooking AI trade. So sort of the engine of growth for the future. In a sense, they'r ...