David Faber and Sara Eisen broke down the days biggest movers - from a new Apple partnership sending Intel shares surging to another day of losses for SpaceX. Plus: hear a deep-dive on what Fed Chairman Warsh&#x27;s inflation battle could mean for investors still expecting rate cuts, and more on Accenture&#x27;s results with the company&#x27;s CEO - as those shares plunge double-digits and even hit stocks of competitors like IBM. Elsewhere in the hour, the team also discussed the economic impact of the Knick&#x27;s championship run as their celebration parade kicked off in downtown Manhattan.<br><br>Squawk on the Street Disclaimer<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

10AM Hour: Warsh's Next Moves, SpaceX Rally Takes A Breather, & Accenture CEO Defends Results 6/18/26

Squawk on the Street

# Full Transcript

**Podcast:** Squawk on the Street

## Participants

- **Sara Eisen** (CNBC)
- **David Faber** (CNBC)
- **Ben Reitzes** (Bank of America Merrill Lynch)
- **Mellis** (None)
- **Ben Miller** (None)
- **Mackenzie Sigalos** (CNBC)

## Transcript

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[SPEAKER_08] Good Thursday morning. Welcome to Squawk on the Street. I'm Sara Eisen with David Faber. We are live, as always, from Post 9 of the New York Stock Exchange. Carl has the morning off. Coming up, Intel surging after President Trump said Apple has agreed to work with the company on Made in America chips. We'll talk to longtime analyst Ben Reitzis about the news. Plus, look at Accenture shares are at the bottom of the S&P this morning, down 16 percent. After a mixed quarter and news of a number of acquisitions, CEO Julie Sweet will be with us. And it's one of the last few weeks.

[SPEAKER_08] Last Supreme Court opinion days of the session. We're still awaiting a potential decision on President Trump's authority to fire Fed Governor Lisa Cook. We'll bring any headlines as we get them.

[SPEAKER_03] First, though, we do have some economic data just crossing. Rick Santelli has that for us. Rick.

[SPEAKER_11] Yes. Good morning, David. Leading economic indicators for the month of May. We're looking for a number around up one tenth of a percent. And that's exactly what we end up with, up one tenth of a percent. And last month gets revised higher from one tenth to up two tenths, which means we have back to back positive numbers. We haven't had back to back positive numbers in LEI since the end of 2021.

[SPEAKER_11] Yes. Leading economic indicators have not been leading us higher. But indeed, it does show the weakness of this statistic, because as equities continue to grow and the underpinnings of the economy remain somewhat solid, leading indicators have been mostly on the weak side. So it's nice to see it moving up. The high watermark this year was February at up three tenths. And that, of course, as you guessed, it was the high watermark going back to D's of 2021.

[SPEAKER_11] Yields. Yields are moving do...

10AM Hour: Warsh's Next Moves, SpaceX Rally Takes A Breather, & Accenture CEO Defends Results 6/18/26

Transcript

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10AM Hour: Warsh's Next Moves, SpaceX Rally Takes A Breather, & Accenture CEO Defends Results 6/18/26

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.