The markets are trading mostly higher on Tuesday after June inflation data came in lighter than expected. Kelly Evans and Brian Sullivan are joined on set by Yardeni Research’s Ed Yardeni to react to the latest CPI numbers and Fed Chairman Kevin Warsh’s appearance on Capitol Hill. Meanwhile, IBM investor Jeff Kilburg breaks down what’s driving IBM’s massive drop this afternoon and whether there is still opportunity for investors to buy in. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Investors React to Inflation Data, IBM Shares Plunge, CleanSpark CEO Interview 7/14/26

Power Lunch

A big blue bust, but big banks blow up in a big way. Welcome to Power Lunch. I'm Brian with Kelly. Inflation seeing its biggest monthly drop in six years. The Fed getting set to meet again in just two weeks. Ed Yardini here to make sense of all that and more. Plus, another big Bitcoin power company soaring. CleanSpark hire on a big new data center lease deal. The CEO, Matt Schultz, is here exclusively.

Really looking forward to that and a tale of two very different tech trades. IBM seeing its worst day ever. The shares are sharply lower after they pre-announced second quarter results way below the street. A long-term investor is coming up with his playbook. And SK Hynix's going the other way. Its U.S.-listed shares are soaring 20% as investors are piling into the AI memory trade today.

The stock getting another catalyst as options on its ADRs begin trading, giving investors a new way to play. One of the biggest beneficiaries of demand for high bandwidth memory and AI infrastructure. We'll get to that. But let's begin with the question hanging over Wall Street. What is the Fed's next move now? Fed Chair Kevin Warsh didn't offer any clues during testimony on Capitol Hill today.

But the cooler-than-expected inflation report may have just changed the playbook. According to the CME's FedWatch tool, the odds of a hike this month at their meeting in a couple of weeks are down from 42% yesterday to just 12% today. Yesterday, by the way, we also had those hawkish comments from Fed Governor Christopher Waller.

Investors React to Inflation Data, IBM Shares Plunge, CleanSpark CEO Interview 7/14/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Investors React to Inflation Data, IBM Shares Plunge, CleanSpark CEO Interview 7/14/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.