The Exchange

The latest data show the economy remains resilient – and so does the consumer. What does it all mean for the market and the Fed? We speak with one economist about her forecast. Plus, our market guest says the recent pullback in tech provides a good entry point, but there’s one way to play it. He’ll tell us how, and what else he’s buying outside of tech right now. And Empire State Realty Trust’s CEO joins us fresh off earnings with what’s driving the stock higher, and his read on the New York City commercial real estate market. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Three months after a bold call, our market guest rejoins us to take a “quarter-victory lap” and look ahead to the next opportunity. Plus, we’ll speak with the CEO of one travel company that’s benefitting from one key consumer trend that they expect to withstand an economic slowdown. And while homebuilders have been buying down mortgage rates to make homes more affordable, the calls for the government to step in are getting louder. Our strategist tells us how that approach would work and how likely it is to actually happen. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Pershing Square’s Bill Ackman covered his bet against bonds, but our market guest is not buying into that move. Plus, JPMorgan Chase CEO Jamie Dimon says central banks have been “100% dead wrong” on economic forecasts and it doesn’t matter if the Fed hikes again. Is he right? We’ll ask former Fed vice chair Randy Quarles. And Microsoft, Alphabet, and Visa are on deck with results. Our trader says one of them has a lot of problems… but good ones. He’ll explain in Earnings Exchange. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A big drop in bond yields after the 10-year started the day back above 5%, but the recent climb led our portfolio manger to say bonds can achieve equity-like returns over the next 18 months. She’ll tell us where she’s seeing opportunities now. Plus, one economist is sounding the alarm that government spending could overwhelm the Fed’s inflation fight. And the co-CEO of Morgan Stanley’s real estate arm is here to break down her strategy in the face of higher yields – and what she’s seeing for opportunities overseas. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly discusses trouble brewing in the banking system. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The yield on the 10-year note hit 5% for the first time in 16 years, a five-star fund manager gives us his duration timeline. Why consumer is even stronger than you may think, and the hidden tax break for homeowners. Plus, Philly Fed President Patrick Harker has a very specific reason for keeping rates where they are. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly explains why the Fed has obligations beyond its "dual mandate.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The House divided. Jim Jordan comes up short in his second vote to secure the Speaker gavel. A top Republican strategist tells us how this should really be resolved. Plus, President Biden visits Israel. He’s pledging an "unprecedented" support package for the country...even as Congress remains leaderless. And have you seen what's happening with bond yields? It's a major headache for banks – and the CEO of Hancock Whitney says that the historic move in yields is pressuring both consumer and commercial loan demand. He joins us to discuss. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Better than expected economic data is pushing yields back toward their recent highs. We’ll ask our strategist how he’s adjusting his portfolio. Plus, homebuilder sentiment sliding to 10-month lows, but our analyst is staying positive ahead of next week’s earnings and tells us why. And salaries could be higher for longer – keeping the Fed in that mode as well. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Is inflation blinding investors to a potential fiscal crisis? We have two heavyweights on the controversial topic. Plus, bitcoin crossing above $30,000 for the first time in months. We’ll ask former CFTC Chairman Tim Massan about the path forward for regulation. And the second half of big bank earnings are on deck tomorrow. We have the action the story and the trade on two big names, plus Johnson & Johnson and Lockheed Martin. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks are struggling, and gold is rallying as investors seek safety. Plus, oil climbing as the U.S. tightens sanctions against Russia. And mortgage rates are near 23-year highs, leading one former Obama official to suggest the government step in and curb the run in rates. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re breaking down the geopolitical fallout from the Israel-Hamas war ahead of President Biden’s speech. Plus, could the 10-year yield be headed to 4% as the “earnings recession” is about to end? We’ll debate. And what are the consequences of a House of Representatives with no Speaker? AEI’s James Pethokoukis joins us to dig into that. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks stage a reversal this hour as Israel’s conflict with Hamas enters its third day. We’ll look at what the unrest means for the region and for energy prices. Plus, activist investor Nelson Peltz is reigniting his proxy fight with Disney. And one analyst says investors should “close their eyes and buy” some utility stocks. She’ll join us with her top picks. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks are staging a big reversal since this morning’s jobs report. We’ll look at the implication for yields and your money. Plus, mortgage rates are shooting higher, nearing 8 percent. And with earnings season around the corner, one analyst is slashing his estimates and price targets on a number of headwinds. He’ll join us to make his case. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The one weapon the Fed has to pull off a soft landing could be backfiring. Companies with a ton of debt could be dead on arrival in this new high-interest-rate environment. And Chartmaster Carter Worth joins us to chime in on the Dollar as it hits an 11-month high. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Two big legal cases concerning the fate of FTX founder Sam Bankman-Fried and the CFPB. We’ve got the latest developments on each. Plus, is Microsoft’s new $9B AI tool worth the hype? And the weight-loss drug boom is having major ripple effects on stocks. We’ll look at one buy and one bail as a result of the craze. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The 10-year yield is hitting its highest level since 2007, and our market guest still sees opportunities in bonds ahead of a recession. Plus, Birkenstock is preparing for its IPO. VC Sam Lessin joins us with what the IPO market means for Silicon Valley and beyond. And a bullish call on a housing name one analyst says is well positioned for a slowdown. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

With the government just two days away from a shutdown, we look at how it could impact everything from economic data to the IPO market. EV manufacturing one of the issues driving the UAW strike, and it could have big implications not just on the big three, but Tesla too, according to Barclays. Plus, a key childcare pandemic subsidy also expiring this weekend, which could have a big impact not just on daycare centers, but the US economy. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The biggest returns against a backdrop of soaring yields and oil prices, according to one 5-star fund manager. Plus, another strike looms over the economy – this time in the health care space. We’ll speak with the union rep about the negotiations and look at the stocks that could be at risk. And on private lender sees “demand destruction” the current environment. He’ll join us from CNBC’s “Delivering Alpha” to explain. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Value has taken a back seat to growth for the past 15 years, but the tide may be turning—we get the names to buy and hold onto for the long-term. The Senate Banking Committee passes a key piece of legislation for the cannabis industry. Plus…is the government shutdown about spending? Border security? The war in Ukraine? Why one policy analyst calls this the “Seinfeld shutdown.” Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Between rising rates, the UAW strike, and a potential government shutdown, we’ve got every economic pressure point covered for investors. Plus, real estate magnate Don Peebles joins us to weigh in on the health of the housing market and commercial real estate, including the one city where he’s waiting to see a wave of defaults before buying up properties. And Bank of America is slashing their estimates on a pair of department stores on rising consumer risks. You won’t believe the shocking numbers behind these retailers’ revenues. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly opines on the soaring national debt. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly explains why the Fed isn’t to blame for interest rates rising here. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

With just days until a government shutdown, Raymond James’ Ed Mills takes a look at the potential impact on both stocks and bonds. Nevermind the office space, here’s the hospitality industry. Why hotels could be the next commercial real estate headache. Plus, Goldman’s Jeff Currie makes the bullish case for copper and oil in his last on-air interview while at the firm. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

There’s a perfect storm brewing for private equity as rates continue to rise, according to Dan Rasmussen. The UAW expands its strikes at GM and Stellantis facilities, the impact that could have on both production and share prices. Plus, if you’ve got a spare $200k, NYC has a club for that. We go inside the rapid rise of high society’s private clubs. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly explains why the U.N. General Assembly meeting might be losing its political luster. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Legendary economist John Taylor joins the show to weigh in on how the Federal Reserve should grapple with the glut of government debt that seems to be pushing yields higher. Plus, with stocks stalling and yields at multi-year highs, is the bond market the place to be buying right now? We’ll debate. And Klaviyo’s debut could be an opportunity to invest in the DTC space… one analyst joins us to make his case. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re live in Washington, D.C. ahead of the Federal Reserve decision on interest rates. And while the Fed is expected to pause, there is plenty of uncertainty around labor strikes, rising energy prices, and a looming government shutdown. We’ll look at what it all means for investors and consumers as rising rates take a bite out of their buying power. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly explains why private equity could find itself becoming a casualty of the Fed’s rate hikes. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Yields on the move ahead of Wednesday’s Fed meeting and our market guest warns that it’s NOT good news for stocks, saying anyone who thinks otherwise is living in fantasyland. Plus, what impact will the strike have on the economy? Rapid Ratings’ James Gellert joins us with the perfect storm he sees forming on the horizon. And one media analyst says the window for Disney CEO Bob Iger to get a good deal for ABC may be closing. He’ll join us to explain. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Mary Barra says she put a historic offer on the table, but UAW workers disagree, and instead, have now begun a historic strike. There will be ripple effects throughout the economy. We’ll have the latest, and look at just how wide those ripples could get. Plus, our market guest says he still sees gains ahead but they will be much harder to come by from here. He joins us to explain how to find them, and the names he’s buying right now. And on the heels of ARM’s big trading debut, we have a special three buys and a bail—2023 IPO edition. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly explains why we’re at one of the biggest inflection points the auto industry has ever seen. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly explains why a lot of hype isn’t always best when it comes to IPOs – especially these days. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Shares of Softbank’s chip company, Arm, higher in their public debut…we discuss what it means for the likes of Instacart and Birkenstock’s impending offerings. But NYU’s Aswath Damadoran says he’s “skeptical of anything they touch,” warning about Softbank’s tendencies to overprice and underdeliver.Plus, fast casual restaurant stocks have been beaten up as of late, but Raymond James has names they say are poised to break out. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Core inflation coming in a little hotter than expected in August, but the street taking it in stride. If we’ve exited what one economist calls ‘the regime of high inflation,’ what should investors be watching now? And speaking of a bump in inflation, Bank of America sees $100 oil as a possibility by year-end. Plus, buying buildings at land prices…a West Coast-based commercial real estate developer tells us what he’s got planned for San Francisco. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly explains why the inflation data doesn’t matter the way it once did. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Apple debuts its iPhone at its flagship event in Cupertino. CNBC’s annual top Financial Advisors list is out and the #1 advisor joins with his best small cap buys now. Plus, Morgan Stanley’s all in on Tesla, but Needham says not so fast. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Two deals dominating the news: Apple & Qualcomm and Disney & Charter. We’ll bring you the headlines and what it means for investors and consumers. Plus, Instacart’s valuation falling to a fraction of what it was just a couple of years ago. And finally, some signs of life for China’s economy! Are the concerns about its looming collapse overblown? We’ll debate. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly explains why when it comes to economic data, caution should still be the order of the day. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Apple falling as China could reportedly widen their iPhone ban to state-owned enterprises. We’ll look at the fallout for Apple with a live report from Beijing, and a look at the technical levels, with shares seeking support amid their worst 2-day drop in nearly three years. And is energy’s gain retail’s pain? Gas prices are higher than usual for this time of year and that could eat into discretionary spending. We’ve got both sides of the story on today’s show. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Are rising interest rates suddenly bad news? All year long, equities have largely shrugged off climbing rates - but this week seems different. Yields popping again today on the back of another round of strong economic data. And just like yesterday, that's sending stocks lower. So why are investors sounding the alarm now? Plus, Apple shares are lower on a one-two punch overseas. The E.U. naming it one of six digital "gatekeepers," while China bans government officials from using iPhones at work. Is it a minor inconvenience or just the state's first salvo against the company? Analyst Toni Sacconaghi weighs in. And have we finally reached the television tipping point? Why the fight between Disney and Charter Communications could be the beginning of the end for linear TV as we know it. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Goldman Sachs slashing their recession odds and one Fed Governor says we’re coming off “a hell of a good week of data.” We’ll debate what it all means for the Fed’s next move. Plus, the key trend our market guest says poses a threat to stocks AND the Fed’s 2% inflation target. And more homeowners are bailing on home insurance, but not because they can’t afford it. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A “Goldilocks” jobs report sent stocks higher initially, but our economist warns that a recession coming, and investors better be ready for it. Plus, home prices hit an all-time high in July but there are signs of a top coming. We have the signals that need to be on your radar. And a special 3 Buys & A Bail: Fed Playbook Edition, featuring the stocks to buy in each rate-hike scenario. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

JPMorgan Chase’s chief economist joins us after a ‘no surprise’ reading from today’s inflation print. He’ll give us his read on the numbers and what they mean for the economy. Plus, recruiter sentiment falling to a record low – we’ll look at the industries in demand ahead of tomorrow’s jobs report. And semiconductors take center stage this afternoon with Broadcom and VMWare reporting after the bell. We have the numbers and narratives to know in Earnings Exchange. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.