Inflation Hits a 1982 high, Oracle Soars and Larry Ellison Throws Shade, SEC Chair Gensler's Message on SPACs, and Highlights from Cramer's “Investing Club” Special.

Carl Quintanilla, Jim Cramer and David Faber kicked off the program with market reaction to inflation data showing November's Consumer Price Index rose to highs not seen since 1982. What does this mean for the Fed? The anchors reacted to comments Costco's CFO made on his company's earnings call about the supply chain and its impact on Christmas. Oracle a big topic of discussion: The stock up double-digits on strong quarterly results and chairman Larry Ellison took a veiled swipe at cloud rival Amazon Web Services on his company's earnings call. Also in focus: SEC Chair Gary Gensler's online video comments about SPACs and protecting investors, a look back at Jim Cramer's special "CNBC Investing Club" digital event -- including what Ford CEO Jim Farley told him about demand for its electric vehicles, Broadcom jumps on earnings, AMC executives sell more shares and Peloton's slump continues after a Wall Street downgrade.