Squawk Pod: 5 Things to Know Before the Opening Bell (August 13, 2025)

Podcast: Squawk Pod
Host: CNBC
Episode Date: August 13, 2025
Summary Prepared By: Podcast Summarizer AI

Episode Overview

This episode delivers a brisk rundown of the top market-moving headlines and business news for the day ahead, as curated from CNBC’s flagship morning show, Squawk Box, anchored by Andrew Ross Sorkin. The themes touch on global trade tensions, tech-innovation rivalries, public health policy shifts, notable company earnings, and diplomatic developments—aiming to equip listeners with the five most critical insights before Wall Street opens.

Key Discussion Points & Insights

1. U.S. Export Taxes on Semiconductors to China

• Main Point: The White House is finalizing legal details for a new policy, proposed by President Trump, to levy a 15% export tax on Nvidia and AMD for semiconductors shipped to China.
  • Potential Expansion: The Press Secretary suggests similar tariffs could extend to additional companies.
• Implication: Heightened U.S.-China trade tensions and increased scrutiny of U.S. tech exports could impact global supply chains and domestic tech firms.

Quote:
"The White House saying the Commerce Department still working out the legal details of President Trump's plan to charge 15% export taxes on Nvidia and AMD for sending certain semiconductors to China."
— Andrew Ross Sorkin [00:25]

2. OpenAI’s Sam Altman Backing Rival to Neuralink

• Main Point: Financial Times reports that Sam Altman is expected to back "Merge Labs"—positioning the new venture as a competitor to Elon Musk’s Neuralink.
  • Fundraising Note: Merge Labs is reportedly seeking an $850 million valuation.
• Implication: The neurotech race intensifies, with major tech figures driving accelerated investment and innovation.

Quote:
"The FT says the company is called Merge Labs and is raising money at $850 million valuations, I should say evaluation..."
— Andrew Ross Sorkin [00:44]

3. FDA Considering Revoke of Pfizer COVID Vaccine for Young Children

• Main Point: The FDA is weighing the revocation of emergency use authorization for Pfizer’s COVID-19 vaccine in healthy children under five.
  • Related: Moderna and Novavax vaccines remain approved for certain populations.
• Implication: Adjustments in vaccination guidance could affect public perception, vaccination rates, and pharmaceutical stock prices.

Quote:
"The FDA considering revoking its authorization of Pfizer's COVID 19 vaccine for healthy children under the age of five..."
— Andrew Ross Sorkin [00:53]

4. Circle’s Earnings and New Stock Offering

• Main Point: Circle’s share price rose 1.3% after reporting a 53% revenue increase, but a surprise 10-million-share stock offering after the bell puts shares under pressure.
  • Breakdown: Of the offering, 2 million shares come from the company; 8 million from existing stockholders.
• Implication: The dual announcement signals confidence but may dilute existing shareholder value in the short-run.

Quote:
"The company reported a 53% increase in revenue. But after the closing bell the company announced a new stock offering of 10 million shares, the stock now under pressure as a result this morning..."
— Andrew Ross Sorkin [01:08]

5. Trump-Putin Alaska Summit Details

• Main Point: Emerging details confirm President Trump and Russian President Vladimir Putin will meet Friday at Joint Base Elmendorf-Richardson in Anchorage, Alaska.
  • Source: White House official via NBC News.
• Implication: The Alaska setting for the summit underscores both geographical positioning and the continued significance of U.S.-Russia relations.

Quote:
"Details emerging on the upcoming meeting in Alaska between President Trump and Russian President Vladimir Putin...the Friday sit down will take place at Joint Base Eltendorf Richardson in Anchorage."
— Andrew Ross Sorkin [01:22]

Notable Quotes & Memorable Moments

• On Market Uncertainty:
  "We're going to keep our eyes of course on that."
  — Andrew Ross Sorkin [01:31]

• The episode maintains a brisk, no-nonsense tone, staying tightly focused on actionable news for investors.

Important Timestamps

| Timestamp (MM:SS) | Segment | |-----------------------|--------------------------------------------------------------------| | 00:25 | Semiconductor export-tax plan and White House comments | | 00:44 | Sam Altman’s Merge Labs to rival Neuralink | | 00:53 | FDA reconsidering Pfizer COVID vaccine for children under 5 | | 01:08 | Circle’s earnings, revenue jump, and surprise stock offering | | 01:22 | Details of Trump-Putin Alaska summit | | 01:31 | Closing remarks and transition |

Tone and Language

• The delivery is fast-paced and information-dense, mirroring the sense of urgency and import typical of pre-market coverage.
• Quotes are direct and succinct, designed to be informational rather than speculative.

Takeaways

Listeners are left with a clear sense of the pivotal stories likely to move global markets—particularly watching U.S. semiconductor policy, biotech developments, and diplomatic summits. The host, Andrew Ross Sorkin, ensures that investors and market observers know where to focus their attention as the markets open.