Stocks Rally, Morgan Stanley Chairman & CEO James Gorman and the Bank Earnings Parade, Inflation Watch and Pres. Biden's Supply Chain Challenges, and $1.5M-winning "Jeopardy!" Champion Matt Amodio.

Squawk on the Street

Carl Quintanilla, Jim Cramer and David Faber covered all of the bases on Wall Street's rally: Stocks getting a boost from tamer-than-expected wholesale inflation data, weekly jobless claims coming in below 300,000 for the first time since the pandemic began, and earnings from Bank of America, Wells Fargo, Citigroup and Morgan Stanley beating street expectations. Morgan Stanley Chairman & CEO James Gorman appeared on the program and said his company is seeing the fruits of its long-term strategy. the anchors also asked him about his take on Robinhood's trading platform, getting employees back into the office and the state of cryptocurrency. The anchors also took a closer look at the White House's strategy for tackling supply chain bottlenecks -- and President Biden urging the private sector to "step up" and help solve the crisis. Cramer sounded off about what he sees as the lack of urgency in dealing with gridlock at the ports. Also in focus: Walgreen Boots Alliance's earnings beat on stronger demand for COVID-19 vaccines, what Apple joining the rally means about the road ahead for investors, and a why it has been a rough October for shares of AT&T and its rivals. Long-time "Jeopardy" champion Matt Amodio joined the program just days after his 38-show winning streak came to an end. What's he going to do with his $1.5-million in prize money?