9AM Hour: Cisco CEO Chuck Robbins, PPI Print, Tapestry Tanks 8/13/26

**Carl Quintanilla** (0:00)
The board recommends approving...

**Carl Quintanilla** (0:01)
Regarding that seat on the committee, we're promoting...

**SPEAKER_3** (0:02)
to most quarterly earnings...

**SPEAKER_4** (0:04)
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**Jim Cramer** (1:00)
It's Jim Cramer here. You're listening to the opening bell of CNBC's Squawk on the Street. Don't miss a minute of the action.

**Carl Quintanilla** (1:07)
Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla, Jim Cramer, David Faber at Post 9 of the New York Stock Exchange. Little weakness in tech this morning on a relative basis. Investors may have wanted a bit more on the Cisco and Cerebus earnings overnight. Buying yields are helping out, though, as July PPI brings no real surprises. Maybe a tenth hot on ex-food energy and trade. Oil's lower on that bearish inventory data from yesterday, but retail gas back above $4 a gallon. GasBuddy says the average has never been this high this late in a calendar year ever.
Our roadmap begins with a macro outlook and geopolitical risks. Hormuz traffic down to a three-month low, watching yields as expectations rise for no imminent rate hike from the Fed.

**David Faber** (1:49)
Plus, AI and the overall technology traits, Cerebro shares, for example, are tumbling on a second quarter loss. Cisco shares also under pressure. This despite record revenue, its gross margins that seem to be giving investors some concerns. CEO Chuck Robbins is going to join us. We'll break down the quarter with him in just a few minutes.
What do we always keep an eye on here? Shares of SpaceX, of course, it's on its way to 150 Investors are buoyed by those comments from Elon Musk about AI, importance to the company, and what he hopes will be its dominance.

**Carl Quintanilla** (2:25)
Let's get right to the markets in this morning's print on producer prices. Jim, that year-on-year core core, ex-food energy and trade, 4.7, highest since May, even though the rest of it was pretty much in line, hammocks on the tape saying now is the time to act. She still wants to hike.

**Jim Cramer** (2:42)
They shouldn't even be talking. Why are you talking on a day of a 30-year auction? Come on, have some decorum and don't disrupt the institution. We're in a situation right now where we want this 30-year bond to go well. I mean, isn't everybody's interest to go well? You don't just go out and start talking about what we should be doing on the day of an auction. And we have to get used to that. The auctions, as many of us remember, were the seminal events that happened during the 90s. We could be at that moment. And the last thing you'd want is anyone other than the Fed Chiefs speaking on the tape.

**David Faber** (3:11)
Wow, I can't remember the last time I heard you talk about a 30-year auction as being important.

**Jim Cramer** (3:15)
Well, it's because the first time it's been an auction.

**Carl Quintanilla** (3:16)
Well, because the yield probably will be the highest since 1

**Jim Cramer** (3:19)
Yeah, and I'll tell you why. Okay, thank you, Carl.

**David Faber** (3:21)
Because when I look at... I'm helpful, too.

**Jim Cramer** (3:24)
Oh, yeah, sometimes. When I look at the... Yeah, I'm just defending myself. No, it's purpose. When I look at the rate, I say to myself, what the heck am I doing trying to get 5% from some food stock, which has the full faith and credit of Fruit Loops, when I can get that from the US government? Now, look, everyone, the real cynical people or mealists or whatever you want to call democratic socialists, perhaps anarchists, because if they want to... Look, if you want to defund Thanksgiving, you might guess, but no turkeys for you, partner. I will say that what this is seminal, because it's a great piece of paper, and I'm going for it this very day.