Inflation Data Fuels Big Rally for Stocks and Elon Musk Sells More Tesla Shares 8/10/22
Jim Cramer and David Faber focused on the stocks leading Wednesday's big stock market rally, sparked by cooler-than-expected\ninflation data. The Consumer Price Index for July easing from a four-decade high, fueling investor hopes that \nthe Fed might take a 75 basis point rate hike off the table in September. The anchors reacted to Elon Musk's decision to sell\nnearly $7 billion worth of Tesla shares amid his legal battle to exit his $44 billion deal to buy Twitter. Also in focus: \nWhat to make of this year's meltdown in media stocks ahead of Disney's after-the-bell earnings, Softbank reducing its stake in Alibaba,\nand Coinbase's billion-dollar loss.