The Exchange

Today’s hotter-than-expected CPI print might make the Fed’s path forward a bit murkier, as Powell doubles down on not rushing to cut rates with the economy as strong as it is. Plus, Elon Musk is laying out his vision for DOGE’s cuts to the federal government, as his feud with OpenAI’s Sam Altman continues. 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 is wrapping up his first day of testimony on Capitol Hill, saying there’s no rush for the central bank to cut rates. Plus, Elon Musk is making an offer to buy OpenAI, but Sam Altman wasted no time shutting that down. And BYD is taking aim at Tesla in China with its new driver assistance technology Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Inflation is stealing the show today with consumers increasingly anxious about tariffs and higher costs. KPMG’s Diane Swonk is now forecasting zero Fed rate cuts this year and joins us to make her case. Plus, we’ll speak with the Frontier CEO as the stock soars on the back of earnings and on the heels of making another offer to buy Spirit. And the U.S. unit of Belgian cement producer, Titan America, is going public on the NYSE. The CEO joins us in a First on CNBC interview. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

January’s jobs report is on deck, and there’s likely to be a huge swing on the monthly figure and some major revisions. Plus, tech stocks are underperforming this year at a level we haven’t seen in over a decade. And Amazon, Affirm, and Expedia results are on deck. 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.

Alphabet shares are selling off after missing revenue estimates, but one tech portfolio manager isn’t worried about it. Plus, researchers uncovered a troubling connection between DeepSeek and a Chinese telecom company that’s banned from doing business in the U.S. We’ll speak with the man behind the report. And gold is hitting another record high as the dollar gains strength too, and that has one portfolio manager looking to buy some unloved names. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Wall Street is back in love with growth names like Meta and Palantir, but our guest has a word of caution for investors banking on big returns. Plus, more companies are splitting their stock and seeing big returns afterwards. We’ll ask Bank of America who’s next on their watchlist. And tariffs are mostly on pause, but there’s another headwind on the horizon for retail stocks. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks are cutting their losses after opening sharply lower, following news of a temporary tariff deal between the U.S. and Mexico. We have the impact to the economy and supply chain. Plus, one CEO is warning of a lumber supply shock as homebuilders depend on Canadian lumber to construct houses. And Nvidia is coming off its worst week in more than two years after the DeepSeek-induced sell-off. Wall Street’s #1 analyst joins us with a look at the tariff risk facing the space. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Fed’s preferred inflation gauge came in-line with estimates. We’ll look at how to position as stocks shake off a rough start to the year. Plus, Nvidia’s CEO is at the White House to meet with President Trump. And tariffs are set to take effect on Mexico, Canada, and China tomorrow. We’ll look at which companies have the most exposure and how to protect your portfolio. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tesla moving higher despite dismal results, but our analyst says its in a unique position with a supercharged AI and self-driving outlook. Plus, Apple is on deck to report results and one CIO says the bar seems pretty low post-DeepSeek. And UPS is tracking for its worst day on record after announcing plans to scale back Amazon deliveries. We’ll speak with the CEO about that and their cost-cutting efforts. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re gearing up for the Fed’s first rate decision under the second Trump administration, and what to expect Chair Powell to say at his press conference. Plus, Nvidia falling again on more AI news and reports of potentially stricter restrictions on their China sales. And we’ll look ahead to Microsoft, Tesla and Caterpillar’s results after the bell 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.

The Nasdaq is rebounding after yesterday’s Nvidia-led sell-off, but Vaneck’s CEO sees more pain ahead for big tech. If that comes to pass, Barclays says health care stands to be the biggest beneficiary of tech’s underperformance, and our analyst has the names with the biggest upside. And consumer confidence came in weaker than expected as Main Street remains pessimistic about their future employment. We’ll look at what it means for the Fed’s next move. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

DeepSeek isn’t just outperforming Silicon Valley competitors – it’s also open-source, cost effective, and requires way less computational power. VC Bradely Tusk tells us it’s going to be really hard to tell his starts ups not to use it. Plus, some good news on the housing front. New home sales were better than expected, and rents are coming down. This matters to CPI, PCE and to the Fed. We discuss if a rate cut could be on the docket for Wednesday’s meeting. 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 500 is hitting another record high ahead of the busiest week of earnings, but our market guest is worried about one risk to the overall rally. Plus, President Trump wants the Fed to cut rates, and our economist thinks he might get his wish times three! And Netflix is getting another big upgrade on Wall Street to cap off the stock’s best week in a year. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Trump speaking to bank CEOs at Davos, and throwing punches at some of them with his comments too. Plus, Blackrock’s Larry Fink is warning of renewed inflation risk to the market. And Netflix is moving higher again today after its blowout earnings report. We’ll look at the fallout for the media landscape. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Trump-backed, multibillion-dollar AI initiative “Stargate” answers some key questions about the AI trade, according to one analyst. Plus, JPMorgan Chase CEO Jamie Dimon says a strong dollar isn’t bad, but P&G’s CEO says it isn’t good either, and our market guest says staying small helps avoid it altogether. And the CEO of Chuck E. Cheese’s parent company joins us with the latest on their turnaround efforts after filing for, and emerging from, bankruptcy in 2020. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Day 1 of Trump 2.0 brought 46 presidential actions, along with a shift in tone on tariffs that the market seems to be welcoming today. We have the latest and what could happen next. Plus, venture capitalist Bradley Tusk says Trump repealing Biden’s orders on AI doesn’t matter and will join us to explain. And S&P Vice Chair Dan Yergin is live from Davos with the business community’s reaction to Trump declaring a “national energy emergency”. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Will TikTok go dark this weekend? Will Elon Musk buy it? We game out the likely scenarios for the social media apps—and dig into the cybersecurity risks for both users and non-users alike. Bitcoin up 10% in the week before Trump’s inauguration, just how high crypto can go this year, according to Standard Chartered. Plus, Bernstein analyst Toni Sacconaghi tells us where he’s finding value in big tech in his final TV interview ahead of retirement. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President-elect Trump’s pick for Treasury Secretary is testifying before the Senate Banking Committee. Plus, we have an exclusive sit-down interview with Citi CEO Jane Fraser on the heels of the bank’s strong quarterly results. And USAA’s CEO is on the ground in California as residents begin to rebuild their lives in the wake of the devastating wildfires. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Inflation is cooling, yields are dropping, and stocks are rallying. Can today’s market action last or is it a last hurrah before tariffs take center stage? Plus, deal activity is surging to start the year. We’ll look at who could be next. And we’ll speak with one TikTok creator with millions of dollars at stake about how she’s preparing for a potential ban. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks moving lower on the eve of earnings season, but our guest is warning of a different risk that the market is underpricing. Plus, TikTok denying a report that it’s weighing a sale to Elon Musk. We’ll look at the platform’s most likely path forward. And our strategist has the sectors he expects to come out on top this earnings season, and some of them may surprise you. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The global surge in bond yields and the dollar is putting pressure on tech stocks. We’ll dig into how long these headwinds could persist. Plus, Meta CEO Mark Zuckerberg is calling out Apple for a lack of innovation and for “squeezing people.” We’ll look at the potential fallout for advertisers amid his recent political shift. And Redfin is fielding thousands of calls as the rental market looks to absorb the fallout from the California wildfires. We’ll check on the real estate market with the broker’s CEO. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Stocks selling off on today’s jobs report, now erasing all their post-election gains, and one of our guests says don’t expect that to change until yields move lower. Plus, Disney, Fox and Warner Bros. are pulling the plug on their joint venture, Venu Sports. We’ll look at why and what it means for the media landscape. And NATO’s former Supreme Allied Commander Adm. James Stavridis joins us with a look at Greenland’s strategic importance and how the U.S. can expand its presence there. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Deadly wildfires continue to devastate Southern California. We speak with two people directly impacted. Plus, we’re decades away from useful quantum computers – or so says Nvidia CEO Jensen Huang. We talk to one CEO who says that timeline is dead-wrong. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Mark Zuckerberg is taking a page out of Elon Musk’s playbook by eliminating fact checkers in favor of community notes. We have the details and a look at the bigger battle that could be brewing. Plus, MoffettNathanson is downgrading Apple to Sell for the first time, and it’s got Wall Street second-guessing the stock. The analyst behind that call 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.

Pres.-elect Trump denies he’s considering paring back tariffs, so what would a full rollout mean for stocks, bonds, and currencies? We’ll debate. Plus, Disney striking the first big media deal of the year with Fubo. We’ll break down the details and what it means for the broader media landscape. And one analyst calls 2025 the year of the underdog airlines, and she’s upgrading American as a result. She’ll join us to make her case. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Rep.-elect Mike Johnson is fighting to retain the gavel as House Speaker, and we’ll game out the potential impact of a protracted battle for speakership. Plus, our market guest is staying bullish on the U.S. despite the drama in D.C., and joins us with the themes driving stocks in the new year. But our technician isn’t feeling so optimistic, and brings three charts that make him worry about near-term risk. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

2025’s first big data point is a strong one, but our market guest still sees the Fed cutting rates for times this year. Plus, Tesla getting hit after its first-ever annual drop in deliveries, but our analyst is watching the trends in autonomous driving instead. And we’ll speak with the CEO of a company involved in every aspect of LNG, ahead of a predicted natural gas boom Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

AI was the big story of the year, but now it needs to grow up, according to our market guest. Plus, insurance stocks soared in 2024, but so have property insurance premiums. We’ll tell you how to mitigate risk, potentially lower your payments, and position your portfolio for big gains in 2025. And we’re live at the NYSE for the annual singing of “Wait ‘Till The Sun Shines Nellie,” led by the late Art Cashin’s family. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Despite stocks sinking into year-end, Citi is staying optimistic for 2025 and their US equity strategist joins us with the names he expects to outperform over the next 12 months. Plus, homeflipping profits are plunging as rates go higher. And we look back at the life, legacy, and economic record of former President Jimmy Carter. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Big tech is getting pounded, Bitcoin is falling, and treasury yields are moving lower. We dive into today’s market sell-off as we round out the holiday-shortened trading week. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

David Zervos tells us why he thinks the Fed is too restrictive heading into the Trump administratio. A retail analyst brings us the four names he’s most bullish heading into 2025--including one stock that’s up 20% in the past month. Plus, the PMG CEO gives us his read on the health of commercial real estate, and why rents won’t be falling any time soon. 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.

Trader Jenny Harrington gives us the names that can cut through the market noise. With Nordstrom being taken private, we look at the other retailers that could be poised for a deal next year. And we run through predictions from 13 media executives for what 2025 will bring. 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.

Strategas’ Dan Clifton makes the case for why Elon Musk is the ultimate bond vigilante, and what comes next could be earth-shattering. Plus, we have the latest from Capitol Hill as Congress races to avoid a shutdown by Friday night. And Bloom Energy has been called an underappreciated AI play for its ability to scale quickly and power data centers. The CEO joins us exclusively with what’s behind the innovative technology. 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.

Today’s retail sales data suggests consumers are getting more cautious, and tariffs may not help things in 2025. Plus, our market guest is going long Europe despite the growing geopolitical uncertainty there. And BofA is out with its food forecast for 2025, claiming chocolate milk could be a growth driver next year. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Fed is expected to cut rates this Wednesday, but it’s a somewhat controversial cut. We explain why. Plus, Bank of America just made Nvidia one its top picks for year, but the stock’s been stalling out. We dive into the risks to consider. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Wall Street’s #1 semiconductor analyst is with us as Broadcom soars to a new all-time high, pushing its market cap past $1 trillion for the first time. Plus, the market is facing a breadth problem, and the Mag 7 are emblematic of a worrying sign of weakness in the market, according to our market guest. And Rep. Gottheimer from NJ joins us with his take on the mysterious drone sightings in the state, and the government’s efforts to ban TikTok. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

ServiceTitan opens for trading above its IPO price after pricing well above its range. Is it a bullish sign for the IPO market? Plus, President-elect Trump spoke to Jim Cramer after ringing the opening bell at the NYSE, sharing a preview of his agenda on crypto, taxes, and more. And Archer Aviation shares have more than doubled since the election as eVTOL names get a bump ahead of inauguration day. We’ll speak with the CEO about what’s driving optimism. 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.

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.

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.

Did today’s strong jobs report put the Fed’s December pause on pause? It depends on who you ask. We’ll round up the latest Fedspeak and look at how to position into year-end. Plus, one economist says AI is exacerbating the “hiring doom loop.” He’ll join us to explain and give us the latest remote-work trends. And it’s OpenAI’s second day of “Shipmas”, we have their latest offering and a look at Trump’s pick for the White House AI and Crypto Czar. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Bitcoin just topped $100K for the first time ever. President-elect Trump says “You’re welcome.” Early investor Mike Novogratz says we’re witnessing a paradigm shift. And our market guest says he’s taking his money off the table. We discuss the different takes on Bitcoin’s big comeback. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re counting down to Fed Chair Powell’s interview at the DealBook Summit. But first, we’ve got both sides of the rate-cut conundrum with where the economy could go depending on the Fed’s meeting in 2 weeks. And the housing market is showing some signs of movement. We’ll look at the latest data points and why housing could become a key issue for President-elect Trump and the GOP. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

If the Fed skips a December cut, our market guest says there’s one trade to position for that. Plus, Salesforce earnings are on deck, and our analyst is bringing his 2025 playbook to the table. And Deutsche Bank is initiating coverage on Instacart, but warning investors not to put the ”CART” before the horse. 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.

Stocks hitting record highs again and one strategist says there’s no reason to believe the rally will slow down. Plus, bitcoin is on track to snap a 4-week winning streak, but one trading platform executive sees it climbing to $250K by the end of next year and $500K by the end of 2027. He joins us to make his case. And we’ve got every angle of Black Friday shopping covered with an in-mall view, the consumer forecast for holiday shopping season, and the CEO of Pandora Jewelers with his pulse of the consumer. 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.