Fed Chair Powell and Inflation Watch, Challenges for The Reopening Trade, The FDA and a Third Booster Shot, More Companies Revise Return to Work Plans, Micron As a "Red" Chip, Credit Card Spending Data Airlines Don't Want to Hear, and What to Expect From Disney Earnings

The morning after the Dow and S&P 500 posted record closing highs, Carl Quintanilla, Jim Cramer and David Faber led of the show with new wholesale inflation data: Producer prices for July coming in hotter than expected, rising one percent from the previous month and up 7.8-percent year-on-year. They explored how Fed Chair Jay Powell is approaching inflation and the recovery amid the Delta variant outbreak -- and reacted to comments from Dallas Fed President Robert Kaplan, who told CNBC that he'd "rather take the foot off the accelerator soon" when it comes to bond purchases. Cramer explains why it's time to nix the term "taper tantrum." COVID and the reopening trade also in focus: The FDA is on the verge of authorizing a third COVID vaccine dose for immunocompromised people, Moderna shares trying to rebound after Wednesday's 15-percent drop, and McDonald's and CNBC parent NBCUniversal joining the list of companies revising their return to work plans and announcing vaccination requirements for certain employees. With airline stocks under pressure, the anchors discussed data from Bank of America showing a pullback in credit card spending, with the biggest deceleration coming from spending on airfare -- which reflects concerns about the Delta variant. Also in focus: The outlook for chip stocks as Micron falls on a Wall Street downgrade, What to expect from Disney's quarterly results after the bell, and market reaction to earnings movers including eBay, Palantir, Bumble, Sonos and snacks maker Utz Brands. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.