Squawk on the Street SOTS 2nd Hour: Nov. CPI Print, Grocery Deal Denied, Apple's AI Strategy, 12/11/24
Dec 11, 2024
Inflation is back on the rise, particularly in groceries and gasoline, but some categories are slowing down. The fallout from Albertsons' scrapped merger with Kroger sparks legal disputes, adding complexity to the grocery market. Mega-cap tech stocks soar as Apple rolls out AI features integrated with Siri, raising eyebrows about the future of tech innovations. Meanwhile, the Federal Reserve is eyeing potential interest rate cuts amidst conflicting economic indicators, creating uncertainty in the financial landscape.
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CPI Report: Mixed Signals
- November CPI data shows inflation rose slightly, driven by groceries, gas, and used cars.
- Core CPI remains stagnant at 0.3%, signaling persistent inflation despite some deflationary areas.
2025 Economic Outlook
- Daryl Kronk predicts higher GDP growth, inflation, and interest rates than consensus for 2025.
- He anticipates one rate cut next year and suggests the Fed is responding to market pressure.
Trump's FTC Pick
- Trump's FTC chair pick, Andrew Ferguson, promises to repeal regulations and halt the "war on mergers."
- Ferguson, however, is a known critic of Big Tech, targeting "collusion" on DEI and environmental initiatives.