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Inflation Data and Regional Banks' Rebound Fuel Rally, Treasury on SVB Fallout, Meta to Cut 10,000 More Jobs. 03/14/23

Inflation Data and Regional Banks' Rebound Fuel Rally, Treasury on SVB Fallout, Meta to Cut 10,000 More Jobs. 03/14/23

Carl Quintanilla, Jim Cramer and David Faber led off the show with key inflation data that helped to boost the markets: The February Consumer Price Index came in as expected at 6% year-over-year -- down from 6.4% in January. The results sparked investor hopes of a smaller rate hike by the Fed next week. As for the fallout from Silicon Valley Bank’s collapse: Regional bank stocks began to rebound after days of massive selling -- and a senior Treasury official told CNBC that the deposits of uninsured depositors in banks across the U.S. are safe. Also in focus: Meta's plan to cut an additional 10,000 jobs -- and what CEO Mark Zuckerberg told his employees about the layoffs.

Squawk on the Street

March 14, 202345m 25s

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Show Notes

Carl Quintanilla, Jim Cramer and David Faber led off the show with key inflation data that helped to boost the markets: The February Consumer Price Index came in as expected at 6% year-over-year -- down from 6.4% in January. The results sparked investor hopes of a smaller rate hike by the Fed next week. As for the fallout from Silicon Valley Bank’s collapse: Regional bank stocks began to rebound after days of massive selling -- and a senior Treasury official told CNBC that the deposits of uninsured depositors in banks across the U.S. are safe. Also in focus: Meta's plan to cut an additional 10,000 jobs -- and what CEO Mark Zuckerberg told his employees about the layoffs. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
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