SOTS 2nd Hour: The State of 'Truflation', AI Private Credit Check, & Is Software Oversold Here? 2/12/26

Carl Quintanilla, Sara Eisen, and David Faber kicked off the hour with a look at inflation - including a new alternative data source cited by the Treasury - ahead of tomorrow's CPI report. Citi Wealth's CIO joined the team with more on what it all could mean for markets, and possible rate cuts ahead... Before the team did a deep-dive on software: spanning the names worth buying here, according to a longtime veteran in the space (who's also in investor in Anthropic) - and what the AI buildout means for private credit as concerns grow over possible contagion risks... Goldman's Head of Corporate Credit is bullish as ever here. Plus: more on the day's biggest earnings reports - spanning exclusive commentary from the CFO of McDonalds, to what the street's saying about Cisco's numbers (as shares look for their worst day since April of last year).  Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, David Faber and Michael Santoli discussed the markets and sectors that are thriving in wake of the recent pullback in tech. Add commercial real estate stocks to the list of equities hit by AI fears. Shares of Cisco down sharply as guidance on soaring memory chip costs overshadowed a Q2 earnings beat. McDonalds posted better-than-expected quarterly results, citing its emphasis on value meals and affordability. The anchors reacted to the House's passage of a resolution to overturn President Trump's tariffs on Canada. Also in focus: What the CEO of FedEx told CNBC ahead of the company's investor day, AppLovin's earnings and the slump in software stocks, a $13.5 billion deal to create a transatlantic asset-management giant. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

January payrolls coming in FAR above expectations:Carl Quintanilla, Sara Eisen, and David Faber broke down the numbers, and got the White House's first reaction to the print with Counselor to the Treasury Joe Lavorgna - before later discussing what it means for the Fed with Goldman Sachs' Chief Economist Jan Hatzius. Plus - AI concerns have crushed software stocks year-to-date... Are contagion concerns overblown here? Hear Apollo Asset Management Co-President John Zito's read from the ground on how it could be an opportunity for private credit markets. Around the edges: Sara brought new behind-the-scenes reporting on Kraft Heinz's decision to pause their planned split; David gave his take on T-Mobile results; and the CEO of Robinhood joined the team for a wide-ranging interview spanning crypto, quarterly results, and even what he thinks of a California wealth tax.  Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, David Faber and Michael Santoli discussed the stronger-than-expected January jobs report — and what it could mean for Fed rate policy going forward.On the earnings front: Robinhood shares tumbled on weaker-than-expected crypto trading revenue, Mattel shares plunged on a quarterly miss and disappointing guidance, Shopify President Harley Finkelstein joined the program to talk about the e-commerce company's results and its outlook on AI growth. Also in focus: AI's impact on brokerage stocks, Elon Musk's comments on AI and jobs, Kraft Heinz pauses plans to split up the company, "Magnificent 7" movers, the FAA 's brief closure of El Paso, Texas airspace. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A busy morning of when it comes to earnings:Carl Quintanilla, Sara Eisen, and David Faber kicked off the hour with two of them - Coca-Cola & Marriott... The CEOs of both companies joined the team with their read on the consumer, the numbers, and more. Plus: why Evercore still sees a higher S&P ahead - despite growing AI debt concerns - with the firm's Head of Equity Strategy. Also in focus: all the earnings names you should be watching here, from Astrazeneca to Datadog to Spotify - and David's new reporting on Paramount's enhanced offer to buy Warner Brothers Discovery.  Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The opening hour of CNBC’s "Squawk on the Street" with Carl Quintanilla, Jim Cramer and David Faber is broadcast each weekday from the floor of the New York Stock Exchange, on site at the opening bell with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds.Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Dow rallies in early market trade, reversing direction to hit a new record high. Citi lays out where they think stocks go next. Then some new reporting by CNBC details OpenAI CEO Sam Altman’s rallying cry to employees as pressure mounts from Anthropic. And could a wave of anti-American sentiment hit the markets? Rockefeller’s Ruchir Sharma explains why it’s not likely. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks and crypto coming off another volatile week:Carl Quintanilla, Michael Santoli and David Faber kicked off the hour with a look at the state of the Big Tech trade - as value names like Caterpillar and Walmart power the Dow above 50k for the first time ever. Are AI capex plans still a huge risk for investors? The team discussed whether an early morning rebound for names like Oracle has legs here... and if there's more pain to come in the crypto space, with Bitcoin holding on above $65k. Plus: get a look at the staggering numbers around Super Bowl wagers - and what it could mean for gaming stocks.  Also in focus: the latest out of a growing battle over the future of weightloss drugs - as Novo Nordisk files a new lawsuit against Hims & Hers... and a deep dive on how AI's changing the game for one of America's oldest banks.  Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Cramer says he wants investors to buy this megacap tech stock. This episode contains a preview of exclusive content from the members-only CNBC Investing Club morning meeting. Become an Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks every day as they talk candidly about the market’s biggest headlines, analyst calls and holdings in the Charitable Trust – and see up close how they decide when, and if, to take action on stocks. Sign up here: cnbc.com/morningtake CNBC Investing Club Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

New numbers detail just how much big tech is planning to spend on capex this year. The street showing some concern with many of the Mag 7 names under pressure this week. We talk with one Wall Street analyst who lays out the bull case for Amazon. Plus, Elon Musk’s net worth surging past $850 billion. More details on that staggering wealth gain.Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.