The Rundown by Public.com — CPI Steady at 2.7%, Nvidia & Eli Lilly Announce $1B Partnership

Episode Date: January 13, 2026
Host: Zaid Admani

Episode Overview

This episode offers a concise recap of notable market news, focused on the latest Consumer Price Index (CPI) inflation report, fresh earnings results from top companies, breakthroughs in AI-driven pharma, and shifting credit card interest rates. Host Zaid Admani brings listeners up to speed on key stories investors should watch, including political intrigue around the Fed and major sector developments.

Key Discussion Points

1. Stock Market Recap & Records

• Main Points:

  • S&P 500 rose 0.2%, setting another record high.
  • NASDAQ climbed 0.3%.
  • Google surpassed $4 trillion market cap, joining Nvidia at this milestone.
  • Google’s rally was boosted by news that its Gemini AI will power a revamped Siri.

• Quote:
  “Google crossed the 4 trillion dollar market cap for the first time ever, joining Nvidia as the only companies worth more than 4 trillion.” (00:34)

• Context:
  Despite DoJ’s criminal investigation into the Fed and Jerome Powell, markets remained buoyant, showing investor focus on corporate strength rather than political turbulence.

2. CPI Inflation Report & The Fed

• Main Points:

  • December’s CPI came in at 2.7% (in line with expectations); core CPI at 2.6%.
  • Inflation remains above the Fed’s 2% target but is considered “in check.”
  • Trump’s tariffs have had minimal apparent impact on prices.
  • Only 5% chance of a rate cut at the upcoming Fed meeting (January 28).

• Quote:
  “Inflation in December came in at 2.7%, which is right in line with expectations, and core CPI came in at 2.6%.” (02:48)

  “While inflation is still running a bit hotter than the Fed's 2% target, it's still relatively in check. And it's yet another sign that Trump's tariffs have had minimal impact on prices so far.” (03:11)

3. Q4 Earnings — Focus on JP Morgan

• Main Points:

  • JP Morgan beat earnings expectations; equities trading revenue surged 40%.
  • Bank’s total revenues up 7% to ~$47B.
  • Net interest income also up 7%.
  • Investment banking fees down 5% but attributed to tough comparisons from a record year.
  • CEO Jamie Dimon reassured on economic resilience; highlighted continued consumer and business strength.

• Quote:
  “Jamie Dimon, who's a bit of a Doomer, says the U.S. economy has remained resilient. He said that while labor markets have softened, conditions do not appear to be worsening.” (05:28)

• Upcoming:

  • More bank earnings this week: Bank of America, Citi, Wells Fargo, Goldman Sachs, Morgan Stanley.

4. Nvidia and Eli Lilly: $1B Joint AI Research Lab

• Main Points:

  • Nvidia and Eli Lilly to invest $1B+ over five years for an AI drug discovery lab in the Bay Area.
  • Builds on earlier Eli Lilly investments in AI and Nvidia’s technology (notably the Vera Rubin chip).
  • Aim: To automate and expedite drug discovery—traditionally a slow process—by integrating advanced AI and automation.
  • Both companies see it as a “drop in the bucket” and potentially the beginning of deeper investments.

• Quote:
  “These two giant companies announced that they're investing $1 billion over the next five years to build a joint AI research lab…A key goal…is to speed up the drug discovery process, which has historically been very slow.” (07:06)

  “I’m bullish in the healthcare sector this year and AI is a big reason for that.” (08:08)

5. Semiconductor Sector: Intel & AMD

• Main Points:

  • Intel and AMD stocks rise after KeyBank upgrades, driven by surging demand for server CPUs (not just AI GPUs).
  • Supply for server CPUs nearly sold out for all of 2026.
  • Intel praised for its advanced 2nm chip manufacturing and possible expansion of business with Apple (low-end M Series, potential A series chips by 2029).
  • Price targets: $60 for Intel, $270 for AMD.

• Quote: “According to KeyBank, which is a Wall street research firm, big tech companies are stocking up on server CPUs as they build out AI infrastructure. And demand is so strong that server CPUs are almost sold out for all of 2026.” (08:29)

6. Delta Airlines Q4 Earnings

• Main Points:

  • Delta missed Q4 revenue expectations, primarily due to declining economy travel.
  • Economy ticket revenue dropped 7%; premium ticket sales surged 9%.
  • Going forward, Delta expects seat growth mainly in premium cabins.
  • Despite solid Q1 booking outlook, stock fell 5% on the news.

• Quote:
  “The big issue for Delta was a decline in economy travelers. Delta said their economy ticket revenues fell 7% while their premium ticket sales jumped 9%.” (10:02)

7. Credit Card Interest Rates: A Decade of Doubling

• Main Points:

  • Current average interest rate: 22%, up from 12% ten years ago.
  • Reasons: Higher Fed funds rate, explosion of credit card reward programs, and rising bank profit margins.
  • Political debate: President Trump and others propose capping rates at 10%.
  • Host remains skeptical about a cap, raising questions about implications for rewards and lending.

• Quote:
  “The average credit card interest rate today is 22%. Ten years ago it was 12%. Now, a big reason that credit card interest rates have gone up is because of the Federal Reserve.” (11:15)

  “President Trump and other politicians are calling for credit card interest rates to be capped at 10%...if it does, it'll be interesting to see the fallout.” (12:14)

Notable Quotes & Memorable Moments

• “I was pretty surprised to see stocks rally yesterday. I thought the criminal investigation by the DoJ into the Federal Reserve and Jerome Powell would spook the market, but that wasn't the case. I guess investors are more focused on all the good things happening right now, one of those things being strong corporate earnings.” (01:05)
• “Earnings season is officially here, everybody.” (06:23)
• “Hopefully this billion dollars is just the start.” (08:14)

Timestamps

| Timestamp | Segment | Highlights | |-----------|-------------------------------|---------------------------------------------------------| | 00:00 | Market Recap / Google, S&P | Market highs, Google milestone, surprise rally | | 02:20 | DOJ/Fed Investigation | Powell’s support and market reaction | | 02:48 | CPI Report / Inflation Data | December CPI & commentary on Fed & tariffs | | 04:25 | Earnings: JP Morgan | Trading revenues, CEO insights, sector implications | | 06:23 | Other Earnings Preview | Schedule for upcoming bank earnings | | 07:06 | Nvidia/Eli Lilly Partnership | $1B AI drug discovery lab, industry context | | 08:18 | Semiconductors | Intel/AMD upgrades, industry supply/demand | | 10:02 | Delta Airlines Earnings | Revenue miss, traveler trends, outlook | | 11:15 | Credit Card Interest Rates | Rate surge, structural reasons, policy debate | | 12:14 | Implications of Interest Caps | Skepticism, host’s perspective, questions for audience |

Final Thoughts & Tone

The episode’s tone is direct, analytical but accessible, with occasional humor (“Jamie Dimon, who’s a bit of a Doomer…”) and a focus on actionable, digestible insights. Zaid Admani frequently invites listeners’ opinions, making content interactive and community-driven.

This summary encapsulates all substantive discussion points and data from the episode, providing all the context needed to be fully updated—without having listened.