The Exchange

The President is expected to sign an executive order providing some tariff relief for autos, but is it enough? We look at what is changing and how to position in the auto trade from here.Plus, the White House is blasting Amazon over reportedly planning to show tariff costs on products. Amazon shooting down that report...sort of. We have the details and whether it signals an emerging rift.And Commerce Secretary Howard Lutnick on U.S. manufacturing, and one trade deal that's done and waiting for approval. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Are the warnings about empty shelves in a few weeks due to tariffs overblown? VC Bradley Tusk makes the case for keeping AI open and accessible across borders. Plus, the bullish case for Spotify ahead of earnings. 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 messaging on trade talks is very different in Washington versus Beijing. We have the latest and look at how to position amid all the trade turmoil. Plus, we got another ugly report on housing, and one data point that was rather unusual. We'll tell you what it is and what it means for the housing market from here. And, our analyst sees a period of below-target growth for two big food names, but he also sees one bright spot. He joins us with the winners and losers. 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.

Treasury Secretary Bessent saying the current standoff between China and the U.S. is unsustainable, giving investors hope President Trump might back down from his hardline stance on trade. Our strategists have two names they say can ride out the current volatility. Plus, Google’s Search remedies trial is taking a turn for the AI. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Trump going after Jay Powell yet again, calling the Fed Chair a “major loser” and urging him to cut interest. Plus, Wolfe upgrading two entertainment stocks—one on valuation, one on domination. We have the names and the bullish case. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jay Powell’s “termination cannot come fast enough,” according to President Trump. But can the President remove a Fed Chair? And if so, what would that mean for the economy, the markets, and your money? We discuss. Plus, chip stocks unable to shake-off concerns about tariffs and stricter export controls. Our trader tells us this weakness was a much-needed revaluation – and an opportunity. He joins us with which names he’s buying. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Another beat for the big banks. Both Citi and Bank of America reporting better than expected results. We dive into the commentary coming out of both C-suites. Plus, both tech and autos getting some tariff relief recently, but President Trump has got his eyes on two new targets: semis and pharma. We speak with one CEO who’s moving drug production from Canada to Barcelona as a result. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As the dollar falls and yields climb, we’re asking if this is the beginning of the end of American exceptionalism. Former Treasury Secretary Janet Yelling telling CNBC President Trump’s trade policies are “completely chaotic” after the administration exempted some tech from the newest round of tariffs over the weekend, but then promised there would be different levies on the way. We look at the potential pains and gains, and where investors can ride out the ongoing uncertainty. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The bond market is not backing down, but consumer sentiment is near historic lows. We’ll wrap up the latest data and look at how investors should position. Plus, BNY is reaffirming its full-year guidance despite all the uncertainty in the market. The CEO joins us with his take on rates, the consumer, and more. And retail is caught in the middle of President Trump’s tariff fight. We go inside one LA denim factory with a hybid manufacturing model that could be the new blueprint. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A strong 10-year Treasury auction pushing stocks higher at the top of the hour, but it was President Trump’s 90 day pause of some tariffs that sent stocks soaring. We have the story as it breaks, including Treasury Secretary Bessent’s news conference, and instant reaction from strategists and traders as the Dow posts its biggest rally in five years. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks lose steam as Trump team sticks by tariffs and a weak bond auction pushes yields higher. Plus, why Needham’s Laura Martin says things are going to get worse for one of tech’s biggest companies. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

It’s been a wild day of swings in the market. From the Dow being down 1,700 points at the low, to up nearly 900 points at the high, we make sense of one of Wall Street’s most volatile sessions ever Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

JPMorgan’s Chief Economist tells us why he upped his U.S recession risk to 60%. President Trump posting he’ll extend the TikTok sale deadline by 75 days—we have instant reaction from the CEO of AppLovin, one of the companies bidding to buy the social media service. Plus, the software name that could be a stealth tariff winner. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks and yields both sinking after President Trump announced sweeping new tariffs. We dig into how we got here, what it means for Americans’ wallets, and the names best- and worst-positioned names. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As Wall Street awaits Trump’s tariff announcement, Wolfe Research’s Tobin Marcus says investors are underestimating one of their key features. But it’s not just tariffs making news, the last-minute bids for TikTok coming in fast and furious ahead of Saturday’s deadline. We bring you all the headlines and the big names stepping up to buy it. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

With a little more than 24 hours until Trump’s big announcement, Raymond James’ Ed Mills says the tariff talk is just getting started. The sectors and countries he expects to be targeted first—and why we’ll still be talking about this in a year’s time. If you’re looking for names successfully navigating the uncertainty in the meantime, one portfolio manager has an under-the-radar software pick. Plus, Acy Cooper, fourth-generation Louisiana fisherman and captain of the Lacy Kay, tells us why the shrimping industry is rooting for more trade restrictions. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tech under pressure again today, but two Mag 7 names are starting to look attractive according to Extel’s 2024 top-ranked portfolio strategist. Economists see an increasing chance of stagflation, so what does that mean for the Fed? And Jefferies’ new cruise stock to buy as travelers begin to trade down. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks are selling off as growing uncertainty on U.S. trade policy and a more grim outlook on inflation weighs on investor sentiment. Plus, Coreweave makes its public debut, but immediately comes under pressure after pricing below its expected range. And China hawk Kyle Bass chimes in on the market sell-off, saying the economy actually needs a “slight recession”. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Trump’s latest round of tariffs focused on autos and auto parts. We’ve got the details, the winners and losers, and the name one trader says will cut its dividend “immediately.” And while President Trump touts them as a win for America, will the government eventually have to step in to support the automakers like it did farmers following the 2016 tariffs? Plus, Sal Khan on how AI is reshaping the classroom for both teachers and students alike. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Are the markets REALLY ready for tariffs? Just how inflationary could they be? And what does that mean for both business and consumer spending? We dive into all of that ahead of this afternoon’s auto tariff announcement. Plus, the latest on the Trump administration’s Signal group chat fallout. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Consumer confidence is tumbling to a 12-year low, and one of our guests agrees that a recession is back in play. Plus, our trader covered his Tesla calls, comparing it to catching a falling knife. And we have an exclusive sit-down with the Gap CEO live at the ShopTalk conference in Las Vegas. 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 S&P is trying to avoid a 5th-straight losing week, but our market guest insists there are four signals that the correction is over. Plus, Elon Musk holding an all-hands meeting at Tesla last night, and today he’s visiting the Pentagon. We’ll look at whether his reach is getting too wide. And some consumer names are less exposed to tariffs than others. Bank of America gives us the names on their radar. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fundstrat’s Tom Lee joins us with the four positive signs he sees in the market this week. Plus, Tesla is becoming the new political football in Washington, and now even the White House is stepping in to support it. And Robinhood is getting on the action ahead of the NCAA Tournament. 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.

Jensen Huang is taking the stage at Nvidia’s biggest event of the year, and Wall Street’s expectations are higher than ever. We’ll look at what to expect and how investors are positioning. Plus, tariffs are hitting the housing market from every angle, but one pre-fabricated homebuilder could be a beneficiary. And President Trump spoke at length with Russian President Putin about a potential ceasefire in Ukraine. We have the headlines and what it all means for U.S. foreign policy. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today’s economic data is painting a mixed picture of the consumer, but most of Wall Street remains positive on GDP growth for the year. We’ll debate what it means for the Fed’s path forward. Plus, Klarna is poaching Walmart from its rival Affirm to become the retailer’s exclusive provider of Buy Now Pay Later loans. And the author of “Moneyball” and “The Big Short” joins us in a First on CNBC interview to discuss his new book, “Who is Government?” Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks are rebounding today but still on track for their worst week in two years. Plus, our market guest likes gold at record highs, but he’s also starting to nibble on some equities amid the recent sell-off. And Apple is having its worst week in five years, but one analyst says the bears are wrong. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re less than 36 hours away from a potential government shutdown, and Senate Democrats seem to be uniting against the House bill. We have the latest from Capitol Hill. Plus, Intel is flirting with its best day since 2020 after hiring a permanent CEO, who Wall Street’s #1 analyst says can drive a turnaround. And DOGE’s cuts to the federal government are having a direct impact on defense and education companies. Our analyst has some names to avoid, and some to consider ahead of more potential layoffs. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

CPI cooling for the first time since September, but JPMorgan sees a 40% chance of a recession this year due to U.S. policy. We’ll look at the rising recession risk and how to position. Plus, China is targeting Walmart over U.S. tariffs, but our retail analyst still sees plenty of opportunity in the space. And Robinhood’s chief brokerage officer joins us with their latest data and a look at how users are taking advantage of the recent market sell-off. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Trump’s new tariff threats are sending stocks lower, dashing hopes of a rebound from yesterday’s sell-off. Plus, our strategist is telling investors to seek safety in “defensive value.” And we’re live at CERAWeek in Houston for an exclusive interview with the Cheniere CEO. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The S&P and Nasdaq are back at their lowest level since September as recession fears ripple across Wall Street. We’re breaking down the latest economic data and looking at how to position ahead of more volatility. Plus, Canada’s next prime minister is not shying away from a trade war with the U.S. And we’re live at CERAWeek in Houston with NextEra’s CEO on the company’s outlook and how DC’s budget battle could impact the entire energy landscape. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fed Chair Powell says the Fed is focused on separating the signal from the noise, but with so much uncertainty in the market, we’ll look at how to position in both stocks and bonds. Trump’s tariffs remain a major source of that investor uncertainty, with the president saying reciprocal tariffs could go into effect as early as today. And one portfolio manager says investors should keep the faith in the Mag 7’s fundamentals, despite the noise in the rest of the tech landscape. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Uncertainty about supply chains and higher costs are rattling C-suites around the world, as American companies continue to worry about growth. We’ll ask one CEO who’s uniquely positioned to look at both challenges. Plus, 6 of the Mag-7 stocks are down year-to-date, but Evercore just made one of them their new top pick in the Internet space. And we’ll look at the state of the semis trade as the SMH ETF breaks below a key technical level. 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.

President Trump’s tariffs on Canada, Mexico and China are going into effect today, rattling the markets. We’ll look at how to position and what it all means for consumers and the Fed’s path forward. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tariffs are set to be imposed on Mexico, Canada, and China, but our guest is concerned there doesn’t seem to be any rush for countries to find an off-ramp. Plus, Warren Buffett warns the economy and consumer could weaken, but our market guest is ready to buy any pullbacks and tells us where he sees the most opportunity. And tariffs should be a tailwind for this U.S. uranium producer, but there’s more to this story than trade. The CEO of Uranium Energy Corp. joins us with his outlook for America’s energy security. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Trump and Vice President Vance argued with Ukranian President Zelenskyy during an extraordinary moment before reporters in the White House. The visit, which was supposed to culminate in a news conference between both leaders, ended with Zelenskyy’s abrupt departure. We follow the live developments and market action as the event unfolds. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

More signs of a slowdown are putting the Fed in a tricky position. We’ll debate what it means for the bull run. Plus, Bath & Body Works is plunging on weak guidance and the risk of tariffs. We’ll look at who else has the most exposure to China. And Trump’s gold card program has a hidden tax break that could lead to a boom in foreign investment. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Amazon CEO Andy Jassy weighs in on AI, James Bond, and why Alexa+ is for the children in an extended interview. Plus, ahead of earnings, we dig into why Wells Fargo says Nvidia is still one of the most attractive secular growth stories in semis. 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.

Leverage, inverse and single-stock funds have exploded in popularity. But, could a turn in the market leave some investors imploding? What to know before you buy into this trend. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A batch of negative data, including weak consumer sentiment, is weighing on stocks. Plus, UnitedHealth plunges as the Justice Department reportedly investigates its Medicare billing practices. And Wells Fargo has the retail names most exposed to the Trump administration’s shifting policy on immigration. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Walmart’s weak guidance is weighing on the Dow, putting it on pace for one of its worst days of the year. Plus, a flurry of Fed officials are weighing in on tariff uncertainty and warning of a material slowdown. And the housing market could be set for another soggy spring selling season. We’ll ask the CEO of Tri Pointe Homes about what he’s seeing. 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.

President Trump reiterated his reciprocal tariff plan over the weekend. We’ll speak to an expert that says it really could lead to 20% or more tariffs on many of our biggest trading partners.Plus, shares of Intel are surging again today amid reports it could be broken in two. But we’ll speak to an analyst who says he has a “better” idea to create value.And, U.S. and Russia officials are holding their first high-level talks in more than two years, as they try to negotiate a truce in the Ukraine conflict. We’ll get the latest details. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The major averages are set to end the week higher despite a whirlwind week of tariffs, inflation, and Musk-driven drama. But President Trump’s rhetoric around defense spending is spooking that sector. And Intel is on pace for its best week since 2000 on rumors of a tie-up with Taiwan Semi. We’ll cut through the noise with Bernstein’s Stacy Rasgon. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Trump is set to impose new, reciprocal tariffs on other nations, matching what they currently charge the U.S. to import goods. We’ll look at the fallout for stocks and the inflationary impact. And is DOGE distracting Elon Musk from Tesla? Wedbush’s Dan Ives doesn’t think so, and says deregulation will drive another $1 trillion in market cap for the EV maker. And Atlantic Council CEO Fred Kempe is in Munich with what European officials are saying about a potential truce between Russia and Ukraine. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.