Treasury Sec. On The Hill, CPI Breakdown, & Musk’s Mea Culpa 6/11/25

A big morning for trade as Treasury Secretary Bessent testifies on Capitol Hill following U.S.-China trade talks in London: Carl Quintanilla, Sara Eisen, and David Faber got the biggest headlines this hour and discussed what it all means for stocks alongside this morning’s better-than-expected consumer inflation print. Goldman Sachs’ Chief U.S. Economist joined the team with his take on the Fed’s next steps here – as rate cut odds rise, and yields fall… Plus: an AI boom or bust? A quick check on the AI trade, and who’s winning the growing arms race – with Meta’s new $14B stake in Scale AI a key focus (along with a new lawsuit out of Disney and NBCUniversal accusing AI image generator ‘Midjourney’ of copyright infringement).

Other top stories: Voyager Technologies going public at the New York Stock Exchange – hear from the CEO of what some are calling “the Berkshire Hathaway of Space” ahead of the first trade; Elon Musk walking back his feud with President Trump – what it means for shares; and a first look at CNBC’s 2025 Top States For Business.

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