Big Banks Report, Dow Record High, Delta Flies Lower 01/12/24

Carl Quintanilla and Jim Cramer began the show by breaking down the big bank earnings with JPMorgan, Wells Fargo, Bank of America and Citi all reporting results. JPMorgan’s profit fell for the fourth quarter after paying a $2.9 billion fee tied to the government seizures of failed regional banks last year. The anchors then shifted to the week’s second batch of inflation data, after wholesale prices unexpectedly declined in December, providing a positive signal for inflation. Other headlines this hour included: Delta Air Lines shares falling after trimming its 2024 earnings forecast, and Bitcoin ETFs seeing $4.6B in volume in their first day of trading. Squawk on the Street Disclaimer

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The opening hour of CNBC’s “Squawk on the Street” with Carl Quintanilla, Jim Cramer and David Faber is broadcast 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 Chief Executive Officers and greatest market minds.