In short
Squawk Pod Episode Summary: 5 Things to Know Before the Opening Bell (9/17/2025)
Episode Overview In this episode of *Squawk Pod*, co-hosts Becky Quick and Joe Kernen present five critical updates and insights before the stock market opens on September 17, 2025. The discussion covers significant developments in the tech industry, mortgage rates, corporate leadership changes, stock performance, and product recalls.
---
Key Updates
- Chinese Authorities and NVIDIA
- Action Against NVIDIA: Chinese internet authorities have instructed tech companies to stop purchasing AI chips from NVIDIA and to cancel existing orders.
- This includes a new chip designed specifically for China.
- The authorities prefer that companies opt for locally produced chips, asserting their equivalence to NVIDIA’s offerings.
- CNBC is expected to follow up with NVIDIA for their response.
- Mortgage Rates Decline
- Sharp Drop in Rates: Average mortgage rates for a 30-year fixed mortgage fell by 12 basis points, reaching 6.13%, the lowest since late 2022.
- This decline comes just ahead of a crucial Federal Reserve rate decision.
- Leadership Change at Ben & Jerry's
- Jerry Greenfield Resigns: Co-founder of Ben & Jerry's, Jerry Greenfield, has stepped down from the company.
- Cited loss of independence under parent company Unilever.
- Shared his sentiments through a letter posted on social media by co-founder Ben Cohen.
- This follows ongoing tensions between Unilever and Ben & Jerry's over social issues since 2021.
- Baidu Stock Surge
- Baidu Shares Rise: Hong Kong-listed shares of Baidu have seen a nearly 16% increase.
- A contributing factor is an upgrade from equity research firms, raising their rating from 'sell' to 'buy' based on a positive outlook for AI chip and cloud computing revenue.
- Costco Prosecco Recall
- Product Recall Announcement: Costco has issued a recall for its house brand Prosecco due to concerns that unopened bottles may shatter.
- Affected bottles were sold across 12 states between April and August.
- Customers are advised to safely discard the bottles and will receive a full refund.
---
Key Takeaways
- The tech industry faces challenges from government regulations, particularly in China.
- Mortgage rate fluctuations can significantly impact the housing market, especially in light of Federal Reserve decisions.
- Corporate governance and independence are critical topics in discussions around mergers and acquisitions, as evidenced by Greenfield's resignation.
- Positive market sentiment can lead to significant stock performance changes, particularly in tech.
- Consumer safety remains a priority, as demonstrated by Costco's proactive recall strategy.
---
Closing Remarks The episode wraps up with a light-hearted discussion about Costco's diverse product offerings, including their Prosecco, and a reminder for listeners to stay tuned for more insightful content from *Squawk Pod*.
For the latest updates and discussions, subscribe to *Squawk Pod* wherever you listen to podcasts.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Transcript
Automatic transcript. May contain errors.0:01Hi, I'm Becky Quick, co-host of Squawk Box. Today I'm with Joe Kernan and this is five things you need to know before today's opening bell. Chinese Internet authorities have reportedly told the country's tech giants to stop buying all AI chips from NVIDIA and to cancel existing orders. The FT says that this includes a new chip custom made for China. This is something that they apparently would like to see them buying Chinese made chips instead. They think that they are equitable to the H20 chip coming from China. CNBC has reached out to NVIDIA for comment. Mortgage rates dropping sharply ahead of today's Fed decision.
0:42Mortgage News Daily says that the average rate on a 30-year fixed mortgage fell by 12 basis points from Monday to yesterday, all the way down to 6.13%. That would be the lowest level since late 2022. Ben & Jerry's co-founder, Jerry Greenfield, has quit his namesake company. In a letter shared on X by co-founder Ben Cohen, Greenfield says that his brand has lost its independence under parent company Unilever. despite what he said was a unique merger agreement that was signed two years ago. Unilever and Ben & Jerry's have clashed over social issues since at least 2021. Hong Kong listed shares of Chinese tech company Baidu jumping nearly 16 % today.
1:24A contributing factor would be equity research firms already research services lifting its rating on Baidu's U.S. shares to buy from a cell based on a positive outlook for AI chip and cloud computing revenue. And Costco recalling bottles of its house brand Prosecco. It warned unopened bottles are at risk of shattering, even when left on a shelf. Bottles sold in 12 states between April and August are affected. Costco is going to be offering a full refund and is telling customers to safely discard those bottles instead of returning them to the store. That's a funny story. Costco makes Prosecco. If you want a really fine champagne, you know where to go.
2:05It's not champagne, it's Prosecco. I know, but if you're going to make that, you might as well go to Costco for anything. They make everything. They make Starbucks. They make coffee that I think Starbucks actually manufactures for them and puts them into their own brand. Prosecco go into a Campari. There's good to tend to. There are good drinks. From Prosecco. I kind of prefer it to champagne. You do? I don't like either really. I don't particularly like either of them, but if I'm going to drink one, Prosecco is a little. I'm telling you that Costco champagne. And if you can, if you're going to spring for it, forget the move.
2:37That's for you. We'll be back later today with Squawk Pod, our daily podcast featuring the best of Squawk Box. Stay tuned to your feed wherever you get your podcasts and listen anytime.
From the publisher
The 5 things you need to know before the stock market opens today: Chinese authorities have reportedly told the country’s tech companies to stop buying chips from Nvidia, mortgage rates are dropping sharply ahead of today’s highly anticipated Federal Reserve rate decision, Ben & Jerry’s co-founder Jerry Greenfield has quit his namesake company, Baidu shares are jumping, and Costco has recalled bottles of its house brand prosecco.
Squawk Box is hosted by Joe Kernen, Becky Quick and Andrew Ross Sorkin. Follow Squawk Pod for the best moments, interviews and analysis from our TV show in an audio-first format.
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
