Trump defends economy, CPI report returns, monster Medline IPO, and more in Morning Squawk

In a significant address from the White House, President Donald Trump defended his economic strategies amidst dwindling approval ratings. He criticized former President Joe Biden, asserting, "I inherited a mess, and I am fixing it." This statement comes as investors prepare for the anticipated November consumer price index (CPI) report, which is set to be released at 8:30 a.m. ET. Economists predict a 12-month inflation rate of 3.1%, with core CPI expected to show an annual rate of 3.0%, excluding food and energy. The Bureau of Labor Statistics has noted that this report will not include one-month percentage changes for November 2025, due to the cancellation of the October inflation report just weeks before the Federal Reserve's final meeting of the year. In premarket trading, stock futures are showing an upward trend ahead of this crucial inflation report. In corporate news, Micron Technology experienced a 10% surge in its premarket shares after surpassing Wall Street's expectations with its recent results and forecasts. Darden Restaurants, the parent company of Olive Garden, also saw its shares rise on an improved sales outlook. However, the S&P 500 and Dow Jones Industrial Average ended the previous trading session lower for four consecutive days. Oracle's stock fell more than 5% following reports that its main investor withdrew from a $10 billion data center project in Michigan. In an exciting development for the tech sector, Trump Media and Technology Group has announced a merger with TAE Technologies, a fusion power company, valued at over $6 billion. This move signifies the company's expansion beyond its current operations, which include the Truth Social platform. On the IPO front, medical supply giant Medline made a remarkable debut, with its stock soaring 41% on the Nasdaq after pricing at $29 and closing its first day at $41. This IPO marked the largest U.S. listing of the year and brought Medline's market capitalization to approximately $54 billion. This event follows a year with over 200 IPOs, despite challenges like President Trump's tariffs and the historic government shutdown in fall. Lastly, Delta Air Lines is set for a leadership change as President Glen Hauenstein announces his retirement at the end of February after two decades with the company. Hauenstein played a pivotal role in making Delta a profitable leader in the airline industry. In a notable shift for the entertainment sector, the Academy of Motion Picture Arts and Sciences revealed a new multiyear streaming agreement with YouTube for the Oscars, starting in 2029 and extending through 2033, including red carpet coverage. Stay tuned for further updates on these pivotal market movements and corporate strategies.