Former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner are set to buy the Los Angeles Lakers, marking a major shakeup for one of sports’ most valuable franchises. Then Goldman Sachs Chief U.S. Economist David Mericle breaks down the latest CPI report and what it means for inflation and the Fed. Plus, Lumentum CEO Michael Hurlston joins the show after earnings to discuss demand for the optical technology powering the AI infrastructure boom.<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: Bob Iger, Josh Kushner to Buy Lakers, Goldman’s First Reaction to CPI, Lumentum CEO on Earnings 8/12/26

Squawk on the Street

[SPEAKER_07] Good Wednesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Quintanilla, David Faber. We are live, as always, from Post 9 of the New York Stock Exchange. Stocks are mostly higher this morning as the latest read on inflation showed a pullback from June, though the Dow has dipped negative. We'll get first reaction from Goldman Sachs chief U.S. economist David Mericle. Plus, we'll get to this move in poor weave as the cloud computing stock jumps double digits on strong A.I. demand up 19 percent. Speaking of A.I. winners, CEO of Lumentum is with us as the optical technology company

[SPEAKER_07] stock pops after revenue more than doubles from last year. That name is up 600 percent over the last 12 months. Guys, let's start on inflation. Pretty much in line, which is good news, I think, for the markets, especially for the markets that are not expecting the Fed to urgently hike rates anymore in September. There's nothing in here that would suggest that they absolutely need to do this. There's the headline number in line month over month, 0.1, which is what was estimated, take out food and energy, 0.2, which

[SPEAKER_07] was estimated. Core, as I mentioned. Again, June was really soft, right? Remember, core in June was zero, so the 0.2 is a little bit higher. But still, we're talking about a year-over-year pace down to 2.5 percent on core inflation. That's really good. It's the lowest level since February. And marks a return to pre-war levels, which is also something. Again, the headline not, but the core, yes.

10AM Hour: Bob Iger, Josh Kushner to Buy Lakers, Goldman’s First Reaction to CPI, Lumentum CEO on Earnings 8/12/26

Read the full transcript

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

10AM Hour: Bob Iger, Josh Kushner to Buy Lakers, Goldman’s First Reaction to CPI, Lumentum CEO on Earnings 8/12/26

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.