Market Sell-off: Earnings Misses for JPM and Morgan Stanley, Rate Hike Fears and Double-Digit Wholesale Inflation. 7/14/22
Carl Quintanilla, Jim Cramer and David Faber delved into the catalysts that sparked Thursday's sell-off: The Producer Price Index for June jumped 11.3% from year-ago levels, reigniting worries about a potential one percent Fed interest rate hike. The anchors also reacted to JPMorgan Chase and Morgan Stanley each missing Wall Street expectations with their second-quarter results. Carl, Jim and David discussed what JPM CEO Jamie Dimon said on the company's earnings call about the health of the consumer. Also in focus: Taiwan Semiconductor's earnings beat, Intel reportedly set to hike prices, Warren Buffett buys more Occidental Petroleum, Twitter vs. Elon Musk and a preview of "Mad Money" moving Monday to the NYSE.
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