CNBC’s "Fast Money" Podcast Summary: August 12, 2025 Episode – "Stocks Jump After CPI Data… Plus Perplexity’s Bid To Buy Google’s Chrome Browser"

Introduction and Market Overview

In the August 12, 2025 episode of CNBC’s "Fast Money," host Melissa Lee, along with a panel of top traders—Tim Seymour, Karen Feiderman, Dan Nathan, and Guy Adami—delves into the day’s significant financial movements. The episode kicks off with a robust market performance, highlighting the NASDAQ and S&P indices reaching new highs, while the Dow surges by 483 points. This impressive rally follows the release of softer-than-expected Consumer Price Index (CPI) data, which has sparked discussions about potential Federal Reserve (Fed) rate cuts.

Economic Data and Fed Policy

Melissa Lee opens the discussion by addressing the impact of the July CPI report, revealing a 2.7% year-over-year increase in consumer prices, below the anticipated 3% growth. This data has led to a decline in short-term treasury yields and heightened expectations for a Fed rate cut in the upcoming meeting.

Key Quote:

• Melissa Lee [02:33]: “Does today's data give the all clear for the central bank and for the markets to give the all clear on the economy in terms of the impact from tariffs. Guy, what do you think?”

Panel Insights on CPI and Fed's Stance

Guy Adami expresses skepticism about the CPI data signaling an “all clear” to the Fed, noting, “inflation is still a problem” ([02:33]). Dan Nathan elaborates on the CPI’s implications, suggesting that while the headline number was encouraging, the core inflation remains elevated, providing the Fed with room to consider rate cuts ([03:09]). Karen Feiderman echoes this sentiment, anticipating that the Fed will proceed with rate cuts, albeit cautiously ([04:23]).

Tim Seymour brings a nuanced perspective, highlighting the paradox of strong GDP growth and elevated inflation rates amidst a stable Fed funds rate ([05:05]). The panel collectively acknowledges the complexity of the current economic landscape, where mixed signals from various indicators make market predictions challenging.

Stock Market Reactions and Equity Discussions

The panel discusses the market's positive reaction to the CPI data, attributing gains to investor optimism about potential rate cuts and improving labor market conditions. Small-cap stocks, in particular, outperformed, rising nearly three times the broader market, driven by expectations of more accommodative Fed policies ([03:21]).

Key Quote:

• Dan Nathan [03:21]: “...small caps are up 3% today, almost three times the move of the market...”

Banking Sector Insights

The discussion shifts to the banking sector, with a focus on Goldman Sachs, which has seen its stock jump 4%, marking a 30% increase year-to-date. Despite this performance, President Trump criticized Goldman Sachs’ analysis of tariffs' impact on inflation, indicating potential political pressures on financial institutions ([16:18]).

Corporate Earnings and Stock Movements: Core Weave and Kava

Core Weave: Shares of Core Weave experienced a significant drop after announcing a public stock offering of 10 million shares, despite beating revenue estimates with a 53% increase. The company is also navigating a contentious $9 billion acquisition of Core Scientific, which has raised concerns about valuation and strategic direction ([20:22]).

Kava: Kava’s stock plunged over 21% following its Q2 earnings report, which missed revenue expectations despite beating EPS estimates. The company's revised full-year guidance for same-store sales growth led to investor disappointment. CEO Brett Schulman remains optimistic about future menu innovations as potential catalysts for recovery ([24:52]).

Key Quotes:

• Dan Nathan [23:04]: “The biggest issue is the infrastructure buildout. That quarter to quarter is very unclear and that's part of the story here.”
• Melissa Lee [26:01]: “Shares of Core Weave dropping after its second earnings report since going public.”

Gold vs. Gold Miners Analysis

The panel engages in a debate over the performance of gold bullion versus gold mining stocks. While the Gold Trust GLD ETF has risen 27%, the Gold Miners ETF GDX has surged 71% this year. The Chartmaster suggests a potential shift, advocating for a move from miners to bullion as the recent breakout might indicate overperformance ([28:21]).

Key Quotes:

• Guy Adami [28:49]: “I think the markets finally embrace the fact that gold is here to stay and the miners still have significant catch up to do.”
• Dan Nathan [29:13]: “I don't think gold's going lower. So over time I want to own the miners.”

Perplexity’s Bid for Google Chrome Browser

A highlight of the episode is Perplexity’s unsolicited $34.5 billion bid to acquire Google’s Chrome browser, nearly double its own valuation. This bold move is analyzed as a strategic stunt by Neelay Patel, editor-in-chief of The Verge, who suggests it aims to drive attention and app installs rather than a feasible acquisition ([32:06]). The panel concurs that this bid is unlikely to materialize but acknowledges its role in raising Perplexity’s profile in the competitive AI and web search landscape ([32:00]).

Key Quotes:

• Neelay Patel [32:06]: “Oh, this is a stunt. Google does not want to sell Chrome.”
• Dan Nathan [37:09]: “Google will expect a long legal battle.”

Investor Sentiment Analysis: Betterment Survey

Betterment CEO Sarah Levy joins the panel to discuss a recent investor survey revealing a generational divide in market confidence. Two-thirds of Gen Z and over half of millennials remain confident about the market's future, attributing their optimism to longer investment horizons and a proactive approach to investing ([38:24]). Levy emphasizes the importance of a balanced investment strategy, integrating both technology-driven tools and human advisory services to cater to evolving investor needs ([39:10]).

Key Quotes:

• Sarah Levy [38:36]: “Time horizon plays a huge role, which is you don't have to be as nervous.”
• Sarah Levy [41:20]: “We've built a really nice way for people to grow with us and get that human advice on top of the tools when they want it.”

Sneaker and Sports Stocks Rally

The episode covers the strong performance of sports and sneaker companies, highlighted by Swiss sneaker company On Holdings’ 32% revenue increase, prompting raised full-year guidance. Other stocks like Nike, Lululemon, and Dick's Sporting Goods also saw gains, fueled by robust sales despite new tariffs on imports from Vietnam ([42:59]). The panel discusses the sustainability of this rally amidst macroeconomic uncertainties and competitive pressures within the athleisure market.

Key Quotes:

• Dan Nathan [43:18]: “At some point, the macro here is not great. Look at Lulu. Lulu hasn't even seen the macro yet.”

Conclusion

The episode of "Fast Money" offers a comprehensive analysis of the current financial landscape, navigating through the nuances of CPI data, Fed policy implications, corporate earnings, and emerging market trends. The discussion underscores the complexity of market reactions in an environment marked by mixed economic indicators and strategic corporate maneuvers. Panelists provide diverse perspectives, offering investors valuable insights into navigating the volatility and identifying potential opportunities in various sectors.

Notable Quotes Summary:

• Melissa Lee [05:05]: “Cutting rates. We saw what happened last fall…”
• Karen Feiderman [04:23]: “There’s cover for it. So that’s what the market wanted to see.”
• Dan Nathan [10:25]: “Financial conditions are extraordinarily easy. Today's price action shows exactly that.”
• Neelay Patel [32:54]: “Perplexity needs attention. They need to drive app installs.”

Timestamp Highlights:

• [02:33]: Initial discussion on CPI data impact.
• [10:04]: Introduction of Societe Generale’s Subhadra Japa.
• [14:26]: Deep dive into bond yields and market expectations.
• [22:09]: Core Weave earnings analysis with Christina Parks Nevillis.
• [28:21]: Analysis of gold miners outperforming gold bullion.
• [32:00]: Perplexity’s bid for Google Chrome examined.
• [38:24]: Betterment CEO Sarah Levy discusses investor sentiment.

Final Thoughts

CNBC’s "Fast Money" delivers an insightful and engaging episode, dissecting pivotal market movements and strategic corporate actions. With expert analysis and real-time reactions, listeners gain a nuanced understanding of the factors influencing today’s financial markets. Whether you're a seasoned investor or new to the scene, this episode offers valuable perspectives to navigate the ever-evolving economic landscape.