9am Hour: Exclusive: BlackRock’s Larry Fink, CPI Runs Hot,  BofA’s $1.2B Fine  10/14/26

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Carl Quintanilla (0:59)

Market moving insight and analysis. Join Jim Cramer, David Faber and me, Carl Quintanilla on the opening bell hour of CNBC Squawk on the Street. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber at Post 9 of the New York Stock Exchange. Futures stumble here as September CPI runs a bit hot. Three-seven on headline is the highest since May.

Two-six on core up from a prior two-four.

Yields are responding. Two-year at the highs of the month. Oil is pretty steady. We got reports of Saudi Aramco's HQ getting hit by the Hoosies. And just now, the Iranian reports of a container ship sinking in the straits. Our roadmap begins with consumer prices up six-tenths in September. Annual inflation now three-seven.

David Faber (1:40)

Plus, Semi is riding their longest losing streak in 16 months. This is ASML, Posts of Profit Beat. It also says it's receiving order interest that goes through 2030 And BlackRock's Chairman and CEO, Larry Fink, he's going to join us right here at Post 9 on our set, breaking down the company's latest results, which were quite strong. Asset Center management growing to $15.5 trillion dollars.

Carl Quintanilla (2:06)

Let's get right to this morning's CPI number. Pretty important as Fed odds for October, Jim, do increase. Not much relief even in rent of 4-1. That was a surprise.

Jim Cramer (2:15)

I mean, I was trying to think about something positive to say about this, because I said the other day, I think that the quarter point will matter.

You almost have the flip here. You have housing going up as a percentage of your income because of mortgage. So therefore, you stay in a rented apartment, and then the rent goes up because there's such demand. So that didn't work.

Many of these are just so traceable to the both tariff and right to the president. Look, if you want to mandate, I feel like telling you this is just saying it today. If you want to mandate higher prices, you're going to have a hard time doing it better than this guy. I mean, there's so many of these things. Right to gasoline, right to diesel. I mean, food is right to diesel. Food did not go up, but it's right to diesel. And if you want textile, okay, apparel. I could go and survey every... I have surveyed every single buddy, every single buddy on apparel. Apparel is tariff, and apparel is getting it to you. Okay? Soda is getting it to you. So, I mean, I don't know what to say. I mean, other than the fact that, you know, if you believe that this war is going to get over sometime soon, you're going to have a pretty good... I mean, this is the bull case. You have a pretty good run.

David Faber (3:27)

Cost of diesel, though, which war are you talking about?

SPEAKER_2 (3:29)

I'm not worried about diesel as much.

David Faber (3:30)

Which war are you talking about?

Jim Cramer (3:32)

Well, I'm just saying energy.

David Faber (3:33)

The one in Iran or the one in Ukraine?

Carl Quintanilla (3:37)

Or the one in Saudi Arabia.

SPEAKER_2 (3:38)

Or the one in Saudi Arabia.

Jim Cramer (3:39)

Okay, the one that we're most likely in control of, which would be Iran.

David Faber (3:43)

Okay.

Jim Cramer (3:45)

But that's a great question because, frankly, all these figures... I'm just saying that if you could get the war in Iran over, you could get a lot of oil coming, that people wouldn't even know where to put the oil.

So, you'd have like a $50 oil. But the fact is, is that I can't find... Look, it's not really traceable to shortage of manpower.